20 Cents - Elizabeth II 4th portrait, Set Issue

Tokelau — three coral atolls with a combined land area of roughly 12 square kilometres — has no indigenous currency tradition and uses the New Zealand dollar for all practical commerce. Its coinage exists purely for collector sets, issued under a formal arrangement with New Zealand that delegates monetary authority southward. The 2012 set marked a transition point in royal portraiture, adopting Ian Rank-Broadley's fourth effigy of Elizabeth II, which had by then been standard on Commonwealth coinage for over a decade.