5 Dollars Shipwreck

Palau's commemorative program in the late 1990s and early 2000s leaned heavily on maritime themes, which suited a nation whose entire territorial identity is defined by ocean. This particular issue references the broader genre of shipwreck coinage that surged in popularity after salvage operations in the Pacific and Caribbean during the 1990s brought genuine recovered coins to market — creating collector appetite that mint programs were quick to exploit without the inconvenience of an actual wreck.

KM#74 was produced by the Austrian Mint under contract, as were most Palauan issues of this period.