20 Dollars Marine Life Protection

Palau gained independence in 1994 after nearly five decades under United States administration as part of the Trust Territory of the Pacific Islands. This issue, struck just one year later, was among the earliest commemorative coins produced under Palau's own authority — the country's Compact of Free Association with the United States had only entered into force in October 1994. The five-ounce format was a deliberate choice to attract the collector bullion market, which was then aggressively courted by newly sovereign Pacific microstates seeking non-tax revenue streams.

KM#13 marks it as an early entry in what became a long-running series for the issuer.