Kiribati issued this piece as part of the wave of Titanic-themed commemoratives that flooded the market in 1998, timed to capitalize on James Cameron's film rather than any centenary of the 1912 sinking. The Pacific island nation had no historical connection to the disaster whatsoever — the issue is purely commercial, minted for the collector trade.
The .500 fineness is worth noting: half-silver alloys were common in low-budget commemorative programs of this era, allowing issuers to market "silver coins" at lower production cost.
Kiribati issued this piece as part of the wave of Titanic-themed commemoratives that flooded the market in 1998, timed to capitalize on James Cameron's film rather than any centenary of the 1912 sinking. The Pacific island nation had no historical connection to the disaster whatsoever — the issue is purely commercial, minted for the collector trade.
The .500 fineness is worth noting: half-silver alloys were common in low-budget commemorative programs of this era, allowing issuers to market "silver coins" at lower production cost.