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 standard bullion sizes, including the large three troy ounces (3oz) of silver format.
The Mint says about this coin:
H.P. Lovecraft, in full Howard Phillips Lovecraft (1890 - 1937), was an American author of fantastic and macabre short novels and stories. He is acknowledged as one of the 20th-century masters of the Gothic tale of terror.
The Cthulhu mythos derives from the central creature in H. P. Lovecraft’s short story "The Call of Cthulhu", first published in the pulp magazine Weird Tales in 1928. It is a shared universe referring to ancient and powerful deities known as the "Great Old Ones", descending from deep space. Cthulhu is the most widely known of the Old Ones, waiting to rise from a submerged city at the bottom of the ocean to wreak havoc on mankind. Since its creation the Cthulhu mythos has been extended to tabletop games, graphic novels, games as well as book series. | 
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