5 Kina - Elizabeth II Silver Proof Issue

Papua New Guinea gained independence on 16 September 1975, and the kina was introduced simultaneously as the country's first sovereign currency, replacing the Australian dollar at par. The Bank of Papua New Guinea commissioned proof sets almost immediately — partly as a revenue instrument through numismatic sales, partly to assert the new monetary identity to an international audience. The .500 fineness is notably low for a proof silver issue of this period, when most commonwealth nations were still striking proofs in .925.