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.
This coin is the second in a three-coin series named Discover New Zealand, celebrating New Zealand’s natural wonders, and features Aoraki / Mount Cook. Mount Cook (native name Aoraki) is the highest mountain in New Zealand.
NZ Post says about it:
Te Waka-o-Aoraki is an early name for the South Island of New Zealand. According to local legend, the island is an overturned canoe, and the rugged peaks of the Southern Alps are Aoraki and his three brothers, turned to stone by the south wind. Local iwi (tribe) Ngāi Tahu considers Aoraki to be the most sacred of the ancestors from whom they descend. The mountain is the physical embodiment of this ancestor and is a link between the supernatural and natural worlds. | 
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