2 Dollars - Elizabeth II Russian Beauty

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.