200 Dollars Marine Life Protection

Palau gained independence from U.S. administration in 1994 under a Compact of Free Association, and this 1995 issue was among the earliest gold coins struck under the new republic. The Marine Life Protection series was launched partly to generate international numismatic revenue — a small nation with limited tax base and no central bank of its own leaning on collector markets almost immediately after sovereignty.

KM#44 is a one-year type with low reported mintage figures, though precise production numbers from the Palau issues of this period are inconsistently documented across standard references.