500 Patacas Year of the Rabbit

Macao's lunar gold issues are struck by the Monetary Authority under the city's "One Country, Two Systems" arrangement, which grants it independent monetary authority distinct from the People's Bank of China — a status that shapes the entire commemorative program. The rabbit holds particular resonance in the Chinese zodiac cycle as associated with longevity and diplomacy, making it a consistent commercial draw for the series.

KM#198 corresponds to the 2023 issue in what is now a well-established annual series from Macao. Mintage figures for these pieces are typically kept low to sustain collector premiums.