5 Dollars - Elizabeth II Queen Mother and Daughters

Issued as part of the Cook Islands' prolific commemorative program of the 1990s, a period when the territory's government leaned heavily on licensed coin producers — primarily the Pobjoy Mint and B.H. Mayer's Kunstprägeanstalt — to generate foreign currency revenue through collector sales rather than circulation. These issues were struck in quantities calibrated entirely to the speculative market of the era, which subsequently collapsed, leaving most 1990s Cook Islands commemoratives chronically oversupplied relative to collector demand.