Pobjoy Mint in the UK makes collectable proof non-circulating legal tender coins for various countries. This is a titanium coin anodized a light cyan blue color. It is a 5 dollar piece made for the British Virgin Islands, commemorating the famous "Inverted Swan" 4 penny stamp of Western Australia. Why, I have no idea.
Austria has issued bimetallic silver-titanium coins commemorating transportation and television.
In spite of its light weight, titanium is extremely strong, which makes it an appealing choice for aircraft parts and surgical hip replacements.
Titanium medal by Metallium, Inc. Photo used by permission.
Diameter 19 mm, 1.9 grams, 99.2% pure. $10 on 9/24/2006.