10 Dollars

The Cook Islands dollar was introduced in 1972, giving this self-governing territory in free association with New Zealand its own currency — though New Zealand dollars circulate interchangeably and the Cook Islands dollar is not accepted outside the islands. The 1987 series, of which this is a part, was printed by Note Printing Australia in Melbourne, which has handled Pacific island currency production for decades.

Watermark-only security on a 1987 issue reflects the relatively low counterfeiting risk assessed for a currency with such a narrow circulation base. The series is modestly scarce in high grades due to the small population and limited banking infrastructure on the islands.