2 Dollars - Charles III Hell

This is a novelty bullion issue from Niue, which has operated since the 1990s as a licensing vehicle for themed commemorative coins struck under New Zealand's monetary authority. The "Hell" branding almost certainly ties to one of several commercial franchises using that name — likely the Norse mythology entertainment or gaming properties popular in the early 2020s — rather than any geopolitical or historical occasion.

KM#5059 places it firmly in the sprawling Pacific island commemorative catalog, where legal-tender status is nominal and collector arbitrage drives production decisions entirely.