50 Dollars C62 "Swallow"

The Marshall Islands began issuing commemorative coinage in 1986 under U.S. dollar parity following the Compact of Free Association, which gave the republic its monetary independence from direct U.S. Treasury oversight while keeping the U.S. dollar as legal tender alongside its own issues. The proliferation of Marshall Islands silver commemoratives through the 1990s was largely driven by the international collector market rather than domestic circulation — most were struck by overseas mints and never reached the islands at all.

KM#376 belongs to a wildlife series issued during a period when the Marshall Islands Republic commissioned dozens of thematic commemoratives annually. Mintage controls on individual issues from this run were inconsistently documented.