The primary use of the term Oceania is to describe a continental region (like Europe or Africa) that lies between Asia and the Americas, with Australia as the major land mass. The name Oceania is used, rather than Australasia, because unlike the other continental groupings, it is the ocean rather than the continent that links the nations together. Oceania is the smallest continental grouping in land area and the second smallest, after Antarctica, in population.
This region of Oceania consists of many hundreds of small islands spread over a large region of the western Pacific. The only empire known to have originated in Micronesia was based in Yap. The term "Micronesia" was first proposed to distinguish the region in 1831 by Jules Dumont d'Urville; before this the term "Polynesia" was in use to generally describe the islands of the Pacific.
The obverse of the coin features a rendered image of the original design proposal for the Freedom Tower by Daniel Libeskind that was to be built on the former site of the World Trade Center in New York. Also on the obverse are the United States national motto "In God We Trust" and the words "Freedom Tower, July 4, 2004." The reverse features an image of the former World Trade Center and the words "We Will Never Forget", along with a small symbol of a star on a stone pillar within a circle. This latter unidentified icon is in fact the coat of arms of the Northern Mariana Islands.
The distributors purport that the coins have been struck using silver recovered from a vault in the rubble of the World Trade Center. The validity of this claim has not been confirmed, although the attorney general's office easily determined that the coin was only silver clad. The CNMI coin was named "Stupid Investment of the Week" by CBS MarketWatch on September 24, 2004.