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2 Dollars - Elizabeth II Russian Beauty

Issuer Government of Niue
Year 2012
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Value 2 Dollars
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Obverse description The obverse presents the fourth effigy of Queen Elizabeth II in right-facing profile, wearing the George IV State Diadem and a pearl drop earring, after the portrait by Ian Rank-Broadley. The effigy is set within a deeply mirrored proof field framed by an elaborate filigree-style ornamental border of scrollwork and foliate motifs rendered in high relief. The legend ELIZABETH II and NIUE appears above the effigy in two lines, with the date 2012, denomination 2 DOLLARS, and the inscription 1oz 999 Silver below. The decorative border, evoking the style of a picture frame, integrates harmoniously with the rectangular format of the planchet.
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Reverse description The reverse features a full-color reproduction of a painting depicting a young woman of Slavic appearance, rendered in the manner of a 19th-century Russian academic portrait. She is shown facing the viewer in three-quarter bust, her long fair hair worn in a side braid, adorned with a pearl necklace and drop earrings, and clad in a white garment. She holds a lit candle in a candlestick before her, the warm flame dramatically illuminating her face against a dark background in a chiaroscuro style. The composition is enclosed within a textured silver-toned rectangular border evoking an ornate picture frame, with the title legend RUSSIAN BEAUTY inscribed in script lettering at the lower portion of the field.
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Additional information

Niue's legal tender silver issues function almost entirely as vehicles for third-party licensing deals, and the "Russian Beauty" series — produced by the Moscow-based MDM company in partnership with the Niue treasury — is a clear example of that arrangement. MDM sourced the distribution while the New Zealand Mint handled production, a supply chain that kept actual issuance in Niue entirely notional.

The coins never circulated on the island. Niue's GDP at the time of issue was insufficient to absorb even a fraction of the series' mintage.

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