1 Dollar Roman Herzog

Roman Herzog served as Germany's Federal President from 1994 to 1999, best known internationally for his 1997 "Berlin Speech" in which he declared that Germany was suffering from a collective failure of reform and needed to shake itself free of "Reformstau" — a political gridlock the word itself barely contains. Palau's small-denomination gold issues from this period were produced under licensing arrangements common to several Pacific microstates, with collector distribution handled almost entirely through European marketing firms targeting German-speaking buyers.