Tokelau, known previously as the Tokelau Islands, is a dependent territory of New Zealand in the southern Pacific Ocean. It uses the New Zealand Dollar as circulation currency, but has been issuing a variety of non-circulating coins since 1978. These are denominated in dollars or "Tala" (the local word for dollar) and cents.
The country has also authorised some foreign mints to issue non circulating coins under its jurisdiction. The silver ounce is an internationally popular format, and is denominated as either One Dollar or Five Dollars.
Coins are considered Non-Circulating Legal Tender (NCLT) when they are issued with relatively low mintage and at prices with a high premium over the intrinsic value of their metal content. For coins issued at a low premium, see silver ounce bullion from Tokelau.