Niue, a sovereign state in free association with New Zealand, uses two official legal tender currencies. The New Zealand Dollar is the circulation currency for daily transactions, while the government also authorises legal tender coins in the Niue Dollar currency for collector's purposes.
A number of mints issue a large variety of commemorative, bullion and collector coins under the authority of Niue. These coins are dedicated to historical or general popular culture themes not related to Niue itself.
Some coins are marketed in standard bullion sizes, like half ounce silver, one ounce silver etc, and some of those are also denominated as $1, for which see respective lists. This coin, denominated as One Niue Dollar, is not in a standard ounce-based size and is made using a "smartminting" technique - meaning that it has features not generally found in circulation coins.
The Mint says about this coin:
No matter where you are from or what you believe, love remains constant and true. It is deeply universal and breaks down barriers between people from all walks of life. In celebration of true love, we are pleased to present an incredible proof specimen with a heart-shaped resin insert. These remarkable coins could be an excellent gift for a wedding, anniversary, or Valentine’s Day.
Love is more than a feeling. Oftentimes, it requires a selfless commitment to the well-being of another. For many of us, love requires courage, sacrifice, and grace. Love is also not limited to romance. It can manifest itself through friendship, parenthood, and altruism, too. Love is truly timeless and for many of us is the reason we strive for a better tomorrow.
The obverse of the coin shows the crowned mature head of Queen Elizabeth II facing right (her effigy known as the "Fourth Portrait"). The Queen wears the "Girls of Great Britain and Ireland" diamond tiara, a wedding gift from Queen Mary (Her Majesty's grandmother) in 1947 - which she also has on the Machin and the Gottwald portraits.
In small letters below the head, the artist's initials IRB (for Ian Rank-Broadley).
Around the effigy is the monarch's legend, the date of issue and the value: ELIZABETH II NIUE ISLAND · 1 DOLLAR 2022 ·.
Below the portrait on its right side, the small MW mint mark of the Mint of Poland (m over W), for Mennica Warszawska (Mint of Warsaw).
Around below right, the hallmark Ag 999 (99.9% silver; "Ag" is abbreviated from Argentum, the Latin word for silver, and is internationally used to mark silver coins and jewellery).