20 Dollars Underwater Fantasy

Palau has operated one of the more prolific fantasy-issue programs among Pacific micro-states, licensing its name and monetary authority to European minting houses — primarily Austrian and Polish — since the 1990s. These coins carry legal tender status under Palauan law but are produced entirely abroad, never circulate domestically, and exist solely for the collector market.

KM#1022 is a product of that arrangement, not of any domestic monetary need.