100 Patacas Year of the Snake

Macau's lunar series issues of this period were produced under Portuguese administration, just three years after the Sino-Portuguese Joint Declaration of 1987 committed to the territory's handover to China in 1999. The colonial mint authority continued issuing collector coinage through that transitional decade with little disruption — these were revenue-generating pieces aimed squarely at the international bullion and numismatic market, not local circulation.

KM#44 was struck by the British Royal Mint on contract.