5 Dollars - Elizabeth II Common Loon

Cook Islands has issued commemorative silver dollars under licensing arrangements for decades, functioning essentially as a mint-for-hire vehicle for third-party bullion and collector programs. This piece falls squarely into that category — a Canadian wildlife theme struck under Cook Islands authority purely because the issuing framework is convenient, not because the subject has any connection to the territory.

The Common Loon dollar is a format long associated with the Royal Canadian Mint's own circulation coinage, first introduced on the Canadian dollar in 1987.