Fantasy - 25 Cents Fanning island - cow

Fanning Island — properly Tabuaeran — is part of the Line Islands group and sits roughly 1,500 kilometers south of Hawaii. It has no cattle population to speak of; the cow here is pure invention, part of a broader wave of fantasy coinages produced for the collector market under Pacific island nation names. Kiribati has authorized several such issues, trading on nominal sovereignty to generate licensing revenue. This piece has no circulation history and was never intended to have one.