The Republic of Palau is an island country in the western Pacific, in free association with the United States. In one way or another, the country has been under US administration since it was established, and has never had its own separate currency - it has always used the US Dollar. However, Palau allows some foreign mints to issue coins under its authority; these are denominated in US Dollars but are only legal tender in Palau, so can in a way be considered to be in "Palau Dollars", even though such a currency does not officially exist.
The coins are usually dedicated to historical or general popular culture themes not related to the country itself. Many of them are in the internationally popular half gram (0.5g) of gold collector format.
The Golden Pirate Skull is part of a large series of specially shaped gold mini-coins by CIT Coin Invest, and is also part of the "Skulls" collection.
The Mint says about it:
"Following the overall surge in popularity in skull designs and the huge success of the Skull No1 coin and its small gold equivalent, CIT proudly introduces three additional coin skulls in 2017. Headlining the new releases is undoubtedly the Big Skull. A special shape combined with CIT’s smartminting high relief technology produced an incredible, three dimensional relief on Skull No1 that becomes even more astounding on its hefty half-kilo big brother that ships in a luxurious collector’s box and is limited to 555 pieces. The direct successor of the 1oz Skull No1 is the gruff Pirate Skull, a derivative of the original with an equally impressive relief and antique finish. Lastly, the little Golden Skull also received a pirate treatment and now features cross bones behind the aged skull."
The coin is shaped like a skull. Like all other gold half grams in the special shapes series, the date of issue is not written on the coin.