2 Pounds - Charles III Squadron Crest, Colored

Pitcairn Islands issues coinage through the authority of the British Crown but operates no mint of its own — all pieces are produced under contract, typically in New Zealand or the UK, and serve almost entirely as collector revenue rather than circulating currency. The island's permanent population has hovered below fifty for decades, making any notion of domestic coin circulation effectively fictional.

The KM#122.1 designation distinguishes this colored variant from an uncolored counterpart struck in the same year.