1 Dollar Sea Horse, Gold Proof Issue

Palau's gold proof series of the early 2000s was issued under a licensing arrangement common among small Pacific island nations — the coins are legal tender of Palau but were produced entirely for the collector market, with no meaningful connection to the local economy. The Republic of Palau, independent since 1994, has used the US dollar as its actual circulating currency since before independence.

At 1.24 g, this is a 1/25 oz-equivalent piece, a format popularized in the 1990s as a lower entry point for gold proof collectors.