Cook Islands has issued licensed pop-culture silver rounds under its authority since the 1990s, functioning largely as a bullion-adjacent collectibles program rather than genuine circulating coinage. This Wizard of Oz piece falls squarely in that tradition — the New Zealand-administered territory lends its legal tender status to a global novelty market, with the actual production contracted to private mints operating well outside Rarotonga.
The 1939 MGM film rights are now held by Warner Bros., whose licensing agreements govern the imagery on coins like this one worldwide.
Cook Islands has issued licensed pop-culture silver rounds under its authority since the 1990s, functioning largely as a bullion-adjacent collectibles program rather than genuine circulating coinage. This Wizard of Oz piece falls squarely in that tradition — the New Zealand-administered territory lends its legal tender status to a global novelty market, with the actual production contracted to private mints operating well outside Rarotonga.
The 1939 MGM film rights are now held by Warner Bros., whose licensing agreements govern the imagery on coins like this one worldwide.