New Zealand uses the New Zealand Dollar as its circulation currency for daily transactions. The country also issues a number of commemorative and collector coins, including in the internationally popular one ounce of silver format (abbreviated as 1 oz Ag, where "Ag" comes from the Latin word for silver, Argentum). Authorised by the Reserve Bank of New Zealand, the official issuer of these coins is NZ Post - which also issues the country's postal stamps. Manufacturing of the coins is commissioned to various foreign mints.
The coins are "Non-Circulating Legal Tender" (NCLT) and not bullion because they are issued at prices much higher than their intrinsic value and are targeted at collectors who appreciate them for their artistic or sentimental value, and not at bullion investors.
New Zealand has the tradition of issuing one "main" large commemorative per year, and this coin is the 2017 New Zealand Annual Coin, featuring the Laughing Owl.
NZ Post says about it:
The laughing owl, so named for its raucous cry of repetitive shrieks, was a common sight in the South Island in the mid 1800’s. However the laughing owl had no defence against predators, and the introduction of stoats and ferrets from the 1880s is believed to have led to the extinction of this beautiful nocturnal bird.
The robust form and detailed feathers of the laughing owl have been cleverly captured in Dave Burke’s design of this 1oz silver proof coin. The korus in the background represent the forests in which the owl dwelled and the domain of Tāne, God of the Forest. The English name for the laughing owl as well as the Māori name whēkau, can be seen clearly printed following the curvature of the coin. | 
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