Vanuatu has a long history of licensing its monetary authority to private coin producers for commemorative issues aimed squarely at the collector market — this piece has no meaningful circulation history and was never intended to have one. It appeared in 2009, the year of Obama's first inauguration, as part of a wave of foreign-issued gold miniatures produced for the souvenir trade.
The Reserve Bank of Vanuatu's involvement is nominal. Legal tender status is granted by arrangement, not by any domestic monetary need.
Vanuatu has a long history of licensing its monetary authority to private coin producers for commemorative issues aimed squarely at the collector market — this piece has no meaningful circulation history and was never intended to have one. It appeared in 2009, the year of Obama's first inauguration, as part of a wave of foreign-issued gold miniatures produced for the souvenir trade.
The Reserve Bank of Vanuatu's involvement is nominal. Legal tender status is granted by arrangement, not by any domestic monetary need.