5 Dollars - Elizabeth II 4th portrait

Cook Islands coinage has always occupied an odd administrative space — the islands are self-governing in free association with New Zealand, meaning Elizabeth II appears on the coinage not as a Commonwealth formality but as the actual head of state under the Cook Islands Constitution Act 1964. The fourth portrait, by Ian Rank-Broadley, was adopted progressively across Commonwealth territories from 1998 onward, with individual jurisdictions updating their coin series on different schedules.

KM#418 appears to have seen limited circulation demand given the islands' small population of under 20,000.