Tokelau's authority to issue coinage is delegated by New Zealand, which administers the territory, but the coins themselves are produced and marketed almost exclusively for the numismatic collector trade — Tokelau has no independent monetary system and virtually no domestic circulation. At 0.1555 g, this is among the smallest gold coin formats produced for the modern bullion and commemorative market, equivalent to one-twentieth of a troy ounce.
Tokelau's authority to issue coinage is delegated by New Zealand, which administers the territory, but the coins themselves are produced and marketed almost exclusively for the numismatic collector trade — Tokelau has no independent monetary system and virtually no domestic circulation. At 0.1555 g, this is among the smallest gold coin formats produced for the modern bullion and commemorative market, equivalent to one-twentieth of a troy ounce.