2 Dollars - Elizabeth II Black Turtle

Niue has functioned since the 1990s as a licensing vehicle for the New Zealand-administered coin program, issuing legal tender struck entirely by foreign mints for collector markets rather than circulation. The "Black Turtle" belongs to a wave of colorized and shaped wildlife issues that flooded the numismatic market in the 2010s and 2020s, produced primarily to capture retail bullion-plus-premium buyers.

KM#4218 is a catalog assignment; the underlying commercial arrangement traces to agreements between the Niue Treasury and private minting houses, with the island retaining nominal issuing authority while bearing none of the production cost.