5 Dollars - Elizabeth II St. Martha

Niue has issued gold fractionals under licensing arrangements with foreign minting houses for decades, functioning essentially as a revenue vehicle for the Pacific island nation whose own economy runs largely on New Zealand aid and remittances. These sub-gram pieces exist because collector demand for affordable pure gold — not any monetary need — created a market that Niue's unusually permissive coining authority was well positioned to supply.

At 0.5 grams of .9999 fine, the economics of production leave almost no margin; the premium over spot on issues like this one typically exceeds 50% at retail.