2 Dollars - Elizabeth II Wolf

Niue has operated as a de facto mint-for-hire since the 1990s, licensing its sovereign issuing authority to bullion and collector programs that have no connection to the island's 1,600-person population. This piece is part of that commercial pipeline — legally a coin of Niue, practically a private mint product sold directly to collectors through international distributors.

KM#4937 is one of hundreds of analogous issues struck under this arrangement, most produced at the New Zealand Mint in Auckland.