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20 Dollars - Elizabeth II Peonies

Issuer Cook Islands
Year 2008
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Thickness 1.74 mm
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Obverse description Right-facing effigy of Queen Elizabeth II wearing the George IV State Diadem, with pearl drop earring and necklace, as modeled by engraver Raphael David Maklouf (third portrait). The truncation of the bust bears the engraver's initials RDM. The peripheral legend reads ELIZABETH II · 2008 · COOK ISLANDS, with the purity and weight specification · 1/5 oz 9999 GOLD · disposed along the lower arc of the field.
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Obverse lettering ELIZABETH II · 2008 · COOK ISLANDS RDM · 1/5 oz 9999 GOLD ·
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Additional information

Cook Islands has issued commemorative gold under its own authority since the 1970s, a arrangement that has nothing to do with local monetary needs and everything to do with the international collector market. The .9999 fineness here is worth noting — four-nines gold was not standard for most sovereign mints in 2008, and its use signals that this piece was aimed squarely at bullion-sensitive buyers rather than thematic collectors.

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