Carnival Coins are collectible items in the Overture DLC in Lies of P. These special coins are spread across the Carnival region and can be redeemed to claim valuable rewards, including unique weapons, gestures, and much more. There are a total of four Carnival Coins in the Lies of P: Overture DLC.
Keeping that in mind, this article will provide a complete guide on all Carnival Coin locations and their respective rewards in Lies of P: Overture.
Carnival Coin #1: Puppet by the Pillar

The first Carnival Coin can be collected shortly after reaching the Carnival Garden Stargazer. From there, enter the main gate and turn left. Near a tall pillar, you’ll find a white-and-blue puppet slumped in front of it. Interact with the puppet to obtain the first Carnival Coin.
Reward #1: “Tap Dance” Gesture

To use the first carnival Coin in Lies of P: Overture, continue toward a yellow house nearby. Inside, there is a puppet theater wagon located across from the entrance. Insert the coin into the mechanism to start a short puppet show. Once the animation is over, you’ll receive the “Tap Dance” gesture.
Carnival Coin #2: Defeat the Parade Master

The second coin is earned by defeating the Parade Master miniboss. This boss is located just ahead of the Carnival Garden Stargazer. Enter the large open area to begin the boss fight and defeat the enemy to claim the second Carnival Coin.
Reward #2: Maniac’s Pinwheel Weapon

After collecting the second coin, head to a booth that is located underneath the Clown’s Circus sign nearby. Use the coin here to gain access to the Clown’s Circus interior. Once inside, climb the wooden stairs and stand on the glowing platform in the center.
Doing so will cause multiple clown dolls to appear. Some of these dolls will throw bombs at you, so clear them out quickly. Completing this event plays another animation, after which you’ll be rewarded with the Maniac’s Pinwheel, which is a unique weapon in Lies of P: Overture.
Carnival Coin #3: Carousel Dead Couple

To find the third Carnival Coin, head back toward the area where the Parade Master was and make your way to the Ferris wheel section of the map. Before reaching it, look for the carousel on the left side.
Go around the carousel to the opposite end, where you’ll encounter a pair of dead NPCs. The third Carnival Coin is found near them, guarded by a few puppet enemies.
Reward #3: Workshop Union Auto‑adaptive Converter +2

Take this coin to another nearby puppet-operated stall bearing a Clown’s Circus theme. After inserting the coin, enter the tent and prepare for another short event. Fireworks will go off, and a new puppet enemy will appear. Using electric attacks will allow you to defeat it quickly.
Once the enemy has been defeated, head inside the clown’s mouth at the back of the area, and you will find a locked safe. Open it to obtain the Workshop Union Auto-Adaptive Converter, which is upgraded in New Game Plus. You’ll also receive an Ergo Crystal of the Eternal after the fight.
Carnival Coin #4: Suitcase Under the Bridge

The final Carnival Coin in Lies of P: Overture is located behind the Clown Knock-Down tent. From the Carnival Garden Stargazer, re-enter the carnival and head behind the tent to a downward slope.
Follow the path under a bridge and look for a dead body with a suitcase nearby. Inspect the suitcase to acquire the fourth and final Carnival Coin.
Reward #4: Full Moonstone of the Covenant, Cheer Gesture, Strategist’s Amulet

To use the final coin, head toward the red-and-white tent located near the merchant. You can reach it by taking the wooden plank path that branches off from the area around the carousel.
Once inside the tent, a clown will invite you to step onto a stage. Insert the last Carnival Coin to activate a mechanism that reveals a hidden compartment containing the Full Moonstone of the Covenant.
Afterward, return to the same stage and perform the “Tap Dance” gesture, which you should have unlocked earlier. Doing so will trigger an additional event that rewards you with two extra items: the “Cheer” gesture and the Strategist’s Amulet.