25 Cents - Elizabeth II Fairy Godmother

Cook Islands has issued collectible coinage under licensing arrangements for decades, functioning less as a monetary authority and more as a vehicle for the global commemorative market. This piece is struck in iron with silver plating — a substrate combination used to keep production costs low on high-volume collector issues while maintaining surface appearance. The KM#2777 reference places it within a sprawling catalog of similar licensed output that Krause struggled to keep pace with during this period.