2 Dollars - Elizabeth II Battle of Cocos

The Battle of Cocos, fought on November 9, 1914, was HMAS Sydney's destruction of the German cruiser SMS Emden off Direction Island — Australia's first naval victory of the First World War and one of the most celebrated single-ship actions of the entire conflict. Niue has issued commemorative coinage under licensing arrangements that allow it to produce large-format pieces well outside the scope of its domestic economy, functioning essentially as a revenue vehicle for foreign minting houses.

At 110 grams and 65mm, this is a medallic-weight piece where the gold plating over copper is the defining commercial compromise.