2 Dollars - Elizabeth II Sauron

Niue has leveraged its status as a Cook Islands-associated self-governing territory to issue an enormous volume of licensed pop-culture bullion since the early 2010s, with New Zealand handling its monetary policy while Niue retains the legal authority to authorize face-value coinage. This piece is part of a broader Middle-earth series produced under license from the Tolkien Estate and Warner Bros., manufactured almost certainly by the New Zealand Mint, which has held that licensing relationship for years.

Legal tender in name only — the $2 face value is a formality against 31.1g of fine silver worth multiples of that figure at any spot price since issue.