1 oz Australian Shipwrecks Silver Coin

The World's First Triangular Bullion Coins

The 1 oz Royal Australian Mint Australian Shipwrecks silver coin is part of a four-coin series (2019-2021) that holds a genuine distinction in the bullion world: these are the first triangular-shaped bullion coins ever produced by a sovereign mint. The equilateral triangle format, measuring 33.9 mm per side, is a deliberate departure from the 500+ year convention of round coinage and creates an immediately recognisable product in any collection.

Each of the four releases depicts a different Dutch East India Company (VOC) vessel lost off the Western Australian coast between 1629 and 1727: the Batavia, Vergulde Draeck (Gilt Dragon), Zuytdorp, and Zeewijk. All four ships were carrying cargo of significant historical and monetary value when they sank, and their wrecks are now protected archaeological sites. The series was struck in .999 fine silver at one troy ounce, carrying Australian legal tender status with a $1 AUD face value.

With production limited to 20,000 silver pieces per release, the series is substantially scarcer than mainstream Australian bullion products. The Perth Mint's Kangaroo and Kookaburra programmes produce 300,000-500,000+ coins annually. The completed status of the series (no further releases planned) has increased secondary market interest from set collectors.

Distribution was handled exclusively by LPM (Lee Precious Metals) in Hong Kong, making these coins harder to obtain at launch through Western dealers. This distribution model contributed to the premiums these coins command over standard round bullion of equivalent weight and purity.

Australian Shipwrecks Series Specifications

Series Releases

The 2019 Batavia was also produced in a limited antiqued silver variant (1,000 pieces). Gold versions across all four releases were struck at just 250 pieces each in .9999 fine gold with $100 AUD face value. Two of the four coins (Vergulde Draeck and Zuytdorp) were both issued in 2020, making the series span only three calendar years despite having four coins.

Shipwrecks Coin Tax and Legal Position

As official Australian legal tender from the Royal Australian Mint, the Shipwrecks series benefits from sovereign-coin tax treatment in most markets where bullion-specific exemptions exist.

• Australia: GST-free as sovereign-mint investment bullion. Both the silver ($1 AUD face value) and gold ($100 AUD) versions qualify as legal tender investment-grade precious metals.
• United Kingdom: Gold versions are VAT-free as investment gold (legal tender coin above .900 purity). Silver versions are subject to 20% VAT on import as new bullion. Pre-owned silver versions available via UK dealers under the VAT margin scheme effectively reduce the tax burden. Not CGT-exempt (only UK legal tender coins qualify).
• United States: IRA-eligible as sovereign-issued .999 silver. The legal tender status and Royal Australian Mint origin satisfy IRS requirements for precious metals IRA holding. Sales tax varies by state.
• European Union: Gold is VAT-exempt as investment gold. Silver subject to local VAT rates. The margin scheme (particularly in Germany as Differenzbesteuerung) may apply to secondary market purchases.
• Hong Kong: No sales tax or import duty. The exclusive LPM distribution from Hong Kong means many of these coins first entered the market through this tax-free jurisdiction.

Four VOC Ships Lost off Western Australia

The Batavia, the inaugural 2019 release, depicts what became one of maritime history's most notorious episodes. The Dutch East India Company flagship struck Morning Reef in the Houtman Abrolhos islands on June 4, 1629. The initial wreck killed 40 people, but the real horror followed: mutineer Jeronimus Cornelisz organised the murder of approximately 125 survivors before loyal officers returned from a rescue mission and regained control. The subsequent trial and executions were the first European judicial proceedings on Australian soil.

The Vergulde Draeck ("The Gilt Dragon"), featured on the first 2020 release, was a VOC vessel carrying trade goods, coins, and passengers from the Cape of Good Hope to Batavia (modern Jakarta). It struck an uncharted reef off the Western Australian coast in 1656, with 75 of 322+ people surviving. The wreck site remained undiscovered for over 300 years until 1963, when a fishing boat snagged its nets on the remains.

The Zuytdorp, the second 2020 release, vanished en route to Batavia carrying an estimated 250,000 silver coins. The wreck was discovered more than 200 years later at the base of coastal cliffs that now bear the ship's name. Divers described the ocean floor as a "Carpet of Silver" from the scattered coin cargo. A genetic theory suggests Zuytdorp survivors may have intermarried with the local Nhanda Aboriginal people, as some carry a genetic marker (Ellis-van Creveld syndrome) potentially traceable to Dutch ancestry.

The Zeewijk, the 2021 conclusion, was the last Dutch East Indiaman lost off Western Australia. After the 1727 wreck, survivors accomplished a remarkable feat of seamanship: they built a small vessel (the Sloepie) from the wreckage and sailed it to Batavia. This survival story provides a more optimistic conclusion to a series otherwise defined by tragedy.