5 Dollars - Charles III Peacock

Cook Islands has issued collectible silver dollars under licensing arrangements for decades, but the Peacock series sits within a specific wave of Asian-market bullion and semi-numismatic pieces that surged in demand during the 2010s and have continued with new monarchs as they arrive. The accession of Charles III in September 2022 triggered a round of effigy updates across all Commonwealth and associated territories, a process governed by the Royal Mint Advisory Committee's approval of the official portrait — in this case, the Penny portrait by Martin Jennings, adopted for coinage in 2023.