50 Cents - Elizabeth II Miffy 2003

Miffy — the minimalist rabbit created by Dutch illustrator Dick Bruna in 1955 — became the subject of a small wave of commemorative issues in the early 2000s, coinciding with the character's 50th anniversary marketing push. Cook Islands frequently served as the issuing authority for novelty silver issues of this kind, providing legal-tender status to pieces primarily intended for the gift and collector market rather than circulation. The arrangement was commercially straightforward: the Cook Islands government collected seigniorage while the licensing and distribution were handled entirely offshore.