50 Cents - Elizabeth II Oil Production and Gas Industry: 1/4

Part of a four-coin series issued by Cook Islands in 2006 commemorating the global petroleum industry, this piece was struck by a private mint under license — Cook Islands has no mint of its own and has long used its commemorative coin program primarily as a revenue stream rather than for domestic circulation. The series coincided with oil prices reaching then-record highs above $70 per barrel, driven by Hurricane Katrina's disruption of Gulf Coast refining capacity and escalating demand from China.