The Republic of MInerva and Libertarian Sea-Steaders
In 1971, 200 libertarians invested $100 million in building their own island nation. The goal was to live free of taxes, able to do whatever they want. But when the neighboring country of Tonga declared the new libertarian island was in Tongan waters and belonged to Tonga, the libertarians fled. And the sea washed away all they had built.
In 1971, Minerva's construction began by bringing barges of sand to the reefs to raise them out of the ocean. Oliver then led a conference of neighboring states in which he delcared his intentions, only to find out that Tonga had issued a claim over the land. At that point, Oliver and his organization jumped the gun a little bit. Ignoring other claims to Minerva, Oliver issued a declaration of independence and created a coin currency for his new nation and was all set to launch into his experiment in nation building.
Unfortunately, the King of Tonga did not accept the new country's legitimacy, and issued a document laying official claim to the reefs. Within months, representatives from Tonga made it clear they were in control of the reefs, and Oliver and his followers left without a fight.
Since that time, a few other groups have tried to set up shop on the islands of Minerva, only to be rebuffed once again by the Tongan government