5 Pounds - Elizabeth II 2004 Summer Olympics - Holland

Gibraltar's Olympic commemorative program in the early 2000s ran to dozens of types, each assigned a national team or sport under a broad licensing arrangement that had little to do with Gibraltar fielding competitive athletes. The "Holland" attribution here refers to the Netherlands Olympic delegation at Athens 2004, not any Gibraltarian connection to Dutch sport.

The selective colour application was added post-strike, a technique widely used by the Royal Mint and contract minters during this period to boost retail appeal for collector-market issues. KM#1195 saw no meaningful circulation.