5 Dollars Year of the Ox

Palau has operated a prolific bullion and collector coin program since the 1990s, licensing its monetary authority to foreign minting houses — primarily in Europe — to produce themed issues largely targeting the global collector market rather than domestic circulation. This piece is one of dozens of annual lunar-series coins issued under that arrangement, with the actual minting almost certainly contracted to a European facility rather than struck on the island itself.

The KM#895 reference places it within a well-documented but densely populated section of the Krause catalog for Pacific island issues.