1 Dollar Hog Fish

Palau began issuing marine-themed collector dollars in the late 1990s under licensing arrangements that effectively outsourced the program to private minting agencies — the coins were never intended for domestic circulation and were sold directly into the international numismatic market. The hogfish series fits squarely within that commercial framework, produced in limited quantities for thematic collectors rather than for any monetary purpose.

KM#127 is copper-nickel, which distinguishes it from the silver-colored issues in the broader Palauan marine series that used .999 silver planchets at higher price points.