2 Pounds - Elizabeth II The Soldier

British Indian Ocean Territory — legally administered by the UK but home to no permanent civilian population — has no functioning economy and no circulating coinage. Issues under its name are produced exclusively for the collector market, with the BIOT designation lending an exotic geographic label to what are otherwise straightforward commemorative pieces. KM#28 is one of several dozen such issues released in the past two decades under arrangements with private minting companies.