2 Dollars - Elizabeth II 12 Drummers Drumming

Niue's ongoing arrangement with the New Zealand Mint has produced dozens of novelty bullion issues tied to pop-culture and holiday themes, of which this "12 Days of Christmas" series is among the more commercially calculated. Collector fatigue with such programs was already evident by 2009, when secondary market premiums on earlier releases in the series had softened considerably.

Niue itself has no independent mint and generates meaningful government revenue through these licensing arrangements.