2 Dollars - Elizabeth II Horses

Niue's coinage program has functioned since the 1970s primarily as a revenue-generating vehicle for the island territory, whose resident population sits under 2,000. The New Zealand dollar serves as actual circulating currency; coins issued under Niue's name are struck for collector sale, not domestic use.

KM#2202 is one of dozens of thematic silver rounds Niue issued through the New Zealand Mint during this period under licensing arrangements with external design houses.