1 Dollar Manta Ray

Palau began issuing dollar-denominated copper-nickel pieces in 1994 under a licensing arrangement typical of small Pacific island nations that use the U.S. dollar but retain the right to produce commemorative coinage. The marine life series, of which this is a part, was produced primarily for the collector market rather than domestic circulation — Palau's population at the time was under 20,000, and demand for circulating coinage was met entirely by U.S. Federal Reserve supply.

KM#35 was struck by the Austrian Mint on behalf of the Palauan government.