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10 Dollars - Elizabeth II Independence
| Issuer | Bank of Nauru |
|---|---|
| Year | 1993 |
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| Value | Log in to see details |
| Currency | Dollar (1993-date) |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse description | The reverse features a detailed relief depiction of a phosphate rock specimen at center, representing Nauru's historically significant phosphate mining industry. The legend 'SILVER JUBILEE OF INDEPENDENCE' curves along the upper periphery, flanked by raised dots at each terminus. Below the central motif, the denomination '$10' is inscribed in bold numerals, with 'BANK OF NAURU' arcing along the lower border, also flanked by raised dots. |
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| Edge | Reeded |
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| Additional information |
Nauru gained independence from Australian administration in 1968, but the island had no domestic coinage until this 1993 issue — a 25-year gap that reflects how thoroughly the phosphate economy operated through Australian currency. The Bank of Nauru itself was less a conventional central bank than an instrument for managing phosphate revenues, which at their peak in the 1970s made Nauru briefly one of the highest per-capita income nations on earth.
By 1993, those reserves were collapsing. The timing of this inaugural coinage, aimed squarely at the collector market, coincided with the beginning of Nauru's long fiscal crisis.