1 oz Loggerhead Turtle Silver Coin

Cayman Islands Sea Life from Scottsdale Mint

The 1 oz Loggerhead Turtle is a .999 fine silver coin struck by Scottsdale Mint under a partnership with the Cayman Islands Monetary Authority (CIMA). It debuted in 2023 as the third species in the Cayman Islands Sea Life coin programme, joining the Blue Marlin (2018) and Stingray (2023). The coin carries legal tender status from the Cayman Islands and is available in both proof-like and coloured proof finishes, with a silver mintage of 50,000 coins per year.

The turtle theme carries deep historical resonance for the Cayman Islands. When Christopher Columbus sighted the islands in 1503, he named them "Las Tortugas" because of the abundance of sea turtles in surrounding waters. The loggerhead turtle (Caretta caretta) is one of several sea turtle species native to Cayman waters and is listed as Vulnerable by the IUCN. The Cayman Islands coat of arms itself features a turtle on a crested helm, making this one of those rare cases where the coin's subject is woven into the national identity of its issuing authority.

Scottsdale Mint has a distinctive edge treatment on this series: wavy lines textured into the coin's rim, thematically tied to ocean waves and unlike the standard reeded or smooth edges found on most bullion coins. This detail doubles as an anti-counterfeiting feature, adding manufacturing complexity that is difficult to replicate. The "Alpha Strike" designation, available as a premium variant, marks the first coins struck from fresh dies, claimed to produce sharper detail.

The 2025 edition was listed at .9999 purity, suggesting an upgrade from the original .999. If sustained, this would bring the series in line with products from the Royal Canadian Mint and Perth Mint at four-nines fineness. Gold versions are also produced: 1 oz at .9999 fine gold with a mintage of just 1,000 coins, and a 1/10 oz gold variant.

Loggerhead Turtle Coin Specifications and Sea Life Programme

The obverse features the Cayman Islands Coat of Arms: a shield with a lion (top) and three stars (bottom) representing Grand Cayman, Little Cayman, and Cayman Brac, topped by a turtle on a crested helm. The reverse depicts a loggerhead turtle swimming within a rope-encircled centre, with a sailing vessel and three stars above and weight/purity inscriptions on the rim.

The broader Sea Life programme includes three species with updated designs each year:

• 2018: Blue Marlin (programme launch, also issued in colourised variant)
• 2023: Expanded to Stingray and Loggerhead Turtle alongside the Marlin
• 2024-2025: Continued with updated designs for all three species

Special variants include the Color Proof edition with painted details and the Alpha Strike (first-strike from fresh dies). Larger silver formats (1.5 oz and 2 oz) appear in some dealer inventories. Individual coins arrive in coin zip bags, with multiples of 20 in tubes. CIMA also sells coins directly at their office in George Town, Grand Cayman, at face-value pricing (US$50 / KYD$40.75 per 1 oz silver).

Loggerhead Turtle Tax Treatment by Country

The coin is issued by the Cayman Islands Monetary Authority (CIMA). The Cayman Islands use the Cayman Islands Dollar (KYD), pegged to the US Dollar at a fixed rate of KYD 1 = USD 1.227. The territory has no income tax, no capital gains tax, and no sales tax domestically.

• United States: No federal sales tax on bullion. State-level exemptions cover roughly 35 states. The gold coin at .9999 purity is IRA-eligible under IRS rules for self-directed precious metals IRAs. The silver coin at .999 meets the 99.9% IRA threshold.
• United Kingdom: Silver carries 20% VAT on purchase. Gold at .995+ purity qualifies for investment gold VAT exemption. Cayman Islands coins are not CGT-exempt in the UK; CGT exemption is reserved for UK legal tender and Crown Dependency coins.
• Canada: Silver at 99.9%+ purity with legal tender status qualifies for GST/HST exemption. Gold is exempt under the same provisions.
• Australia: Silver at 99.9%+ purity qualifies for GST exemption as investment-grade bullion. Gold at 99.5%+ is also exempt. Standard CGT rules apply with a 50% discount for holdings over 12 months.
• New Zealand: GST-exempt for fine silver at 99.9%+ purity. No formal capital gains tax.
• Singapore: Qualifies for GST exemption under the IPM scheme at 99.9% silver purity and legal tender status. No capital gains tax.
• Hong Kong: No sales tax, import duty, or capital gains tax on bullion.
• Cayman Islands: Available directly from CIMA. No local taxes of any kind apply.

Loggerhead Turtle vs Hawksbill Turtle, Britannia, and Other Marine Coins

The most direct comparison is with the 1 oz Niue Hawksbill Turtle, also produced through a Scottsdale Mint connection (New Zealand Mint has Scottsdale ties). Both feature sea turtles on Pacific island legal tender silver coins. The Hawksbill has a much longer track record (since 2010, over 15 years of production) and a higher annual mintage of 350,000 coins, giving it better secondary market liquidity and lower premiums. The Loggerhead Turtle's 50,000 mintage makes it scarcer per year but newer and less established. A buyer choosing between them is trading liquidity (Hawksbill) for scarcity and the Scottsdale Mint's proof-like quality (Loggerhead).

Against the 1 oz Tokelau Great White Shark, the Loggerhead Turtle offers lower mintage and a more modern programme (2023 vs 2015). The Great White Shark's 500,000 mintage was a one-time run, while the Loggerhead is an ongoing annual issue. Both are struck at .999 silver with Pacific island legal tender status. The Tokelau coin tends to trade at lower premiums reflecting its higher mintage.

The 1 oz Silver Britannia is not a direct competitor in theme or market positioning, but it sets the standard for UK buyers considering any silver coin. The Britannia offers CGT exemption, advanced security features, and the deepest secondary market of any UK-available silver coin. The Loggerhead Turtle cannot match any of these advantages, but its distinctive design, wavy-edge treatment, and lower mintage appeal to collectors who want variety beyond the mainstream sovereign coins.

The gold version's 1,000 annual mintage is genuinely scarce. For comparison, even limited Royal Mint gold coins (Tudor Beasts, Legendary Creatures) are produced at 5,000 per design. Collectors of low-mintage gold bullion may find the Loggerhead Turtle gold particularly interesting, provided they are comfortable with the smaller secondary market that comes with a Cayman Islands issue.