Gold Five Ounces (5 oz), Coin Type from Cook Islands - detailed information

The Cook Islands, a sovereign state in free association with New Zealand, uses two official legal tender currencies. The New Zealand Dollar circulates in parallel with the local Cook Islands Dollar; at the same time, the government also authorises many legal tender coins in the Cook Islands Dollar currency for collector's purposes.

Collector coins are dedicated to historical or general popular culture themes not related to the country itself. Many of them are in sizes based on the troy ounce, including the very large five ounces of gold format. They are "Non-Circulating Legal Tender" (NCLT) and not bullion because they are issued at prices much higher than their bullion value and are targeted at collectors who appreciate them for their artistic or sentimental value, and not at bullion investors.