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, and has also authorised some foreign mints to issue bullion coins under its jurisdiction.
The silver ounce (abbreviated as 1 oz) is an internationally popular format, and is denominated as Five Dollars.
Coins are considered "bullion" when they are issued with relatively high mintage and at prices close to the intrinsic value of their metal content. For Non-Circulating Legal Tender (NCLT) coins issued at a high premium, see silver ounce (NCLT) from Tokelau.