20 Dollars Anemonefish

Palau began issuing large-format silver nature series coins in the late 1990s under licensing arrangements that essentially outsourced the entire program — design, minting, and distribution — to European private mints, with the island nation receiving a fee while retaining nominal issuing authority. The anemonefish issue is part of that wave, produced for the collector market rather than any domestic monetary purpose.

The 155.5g specification places this in the 5-troy-ounce category, a format that gained commercial traction in the early 2000s as bullion-adjacent collector coins.