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5 Dollars - Elizabeth II Pegasus
| Issuer | Government of the Cook Islands |
|---|---|
| Year | 2022 |
| Type | Non-circulating coin |
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| Obverse description | Right-facing effigy of Queen Elizabeth II after the fourth definitive portrait by Ian Rank-Broadley, depicting the Queen wearing the Girls of Great Britain and Ireland Tiara. The legend ELIZABETH II arcs along the upper left field and COOK ISLANDS along the upper right, with the date 2022 positioned in the lower exergue. The engraver's initials IRB appear beneath the truncation of the bust. The portrait is rendered in high relief against a mirror-polished proof field. |
|---|---|
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| Obverse lettering | ELIZABETH II COOK ISLANDS IRB 2022 |
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| Additional information |
The Pegasus bullion series from the Cook Islands mint program occupies a peculiar corner of the modern gold market — these fractional pieces are legal tender by treaty arrangement, with the Cook Islands' monetary relationship to New Zealand allowing it to issue coins that circulate nominally in neither country but carry full sovereign backing. The 2022 issue continues a design lineage the program revived partly to compete with Perth Mint's fractional mythology-themed releases that had dominated that collector segment since the mid-2010s.