5 Dollars - Elizabeth II Elizabeth I

Niue has operated as a prolific bullion and commemorative licensing platform since the 1990s, contracting with private mints — primarily the New Zealand Mint — to produce collector issues that bear its nominal sovereignty simply because it offers favorable licensing terms. This coin exists for that reason, not because Elizabeth I holds any particular relevance to a Pacific island nation of roughly 1,500 people.

The two-ounce format at .999 fineness places it squarely in the collector bullion category that surged in the years following the 2008 financial crisis.