The design is a compass pointing North, a ship, and an 18th-century Royal Navy officer's hat with the number '50' superimposed on the hat. The outer inscriptions are 'LIEUT BROUGHTON. BRIG CHATHAM 1791'. The inner inscription is 'DISCOVERY OF THE CHATHAM ISLANDS 44 DEG S LAT 176 DEG 20 MIN W LONG'. The inscription 'FIFTY DOLLAR PIECE' appears below the '50'. The $50 coin is a dual commemorative: The Millennium and the 210th Anniversary of the British discovery of the Chatham Islands. Both the $5 and the $50 coins have milled edges. The Reserve Bank of New Zealand banned the issue of the coin in 2001. There are not more than 25 pieces of the $50 coin known to exist. Additional information Notes Verified - Chatham Islands Note Corporation Limited References External links Chatham Islands "dollars" not legal by 'negotiable' tender Chatham Islands dollars photos A list of notes, with higher-resolution photos of Chatham Islands dollar Extract from the New Zealand Registrar of Companies website Chatham Islands History of the Chatham Islands Local currencies Currencies of New Zealand Currencies of Oceania Modern obsolete currencies Dollar