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50 Dollars Year of the Rat
| Issuer | Marshall Islands |
|---|---|
| Year | 1996 |
| Type | Non-circulating coin |
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| Obverse description | The national seal of the Republic of the Marshall Islands occupies the central field, depicting a frigate bird above a traditional Marshallese stick chart, flanked by a palm tree to the left and a sailing canoe to the right, with a radiant sun above. The seal is enclosed within a decorative chain border. The legend REPUBLIC OF THE MARSHALL ISLANDS arcs along the upper periphery, with the denomination $50 to the left and the date 1996 to the right of the central device. The national motto JEPILPILIN KE EJUKAAN is inscribed along the lower border. |
|---|---|
| Obverse script | Latin |
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| Additional information |
The Marshall Islands used its post-Compact of Free Association monetary authority aggressively throughout the 1990s, issuing dozens of commemorative silver dollars targeting collector markets with no intention of circulating. This Lunar series piece is part of that programme — coins produced under contract by foreign mints and sold directly to dealers and distributors, never touching the domestic economy of a nation with fewer than 60,000 people.
KM#281 is one of several near-identical sovereign lunar issues from Pacific island states during this period, all competing for the same collector dollar.