Loggerhead Turtle Silver

Cayman Islands Legal Tender from Scottsdale Mint

The Loggerhead Turtle is a silver and gold bullion coin issued by the Cayman Islands Monetary Authority (CIMA) and struck by Scottsdale Mint in Arizona. Part of the broader Cayman Islands Sea Life coin programme, which launched in 2018 with the Blue Marlin, the Loggerhead Turtle debuted in 2023 and has quickly become the programme's most widely available silver coin.

The 1 oz silver coin is struck to .999 fineness (upgraded to .9999 for the 2025 edition) with a proof-like finish and a silver mintage of 50,000 pieces. A distinctive edge treatment with wavy line texture, thematically tied to ocean waves, sets it apart from standard reeded or smooth-edge bullion. Gold versions are available in 1 oz (.9999 fine, mintage 1,000) and 1/10 oz formats.

The coin's name connects to the islands' founding identity. Columbus named the archipelago Las Tortugas in 1503 because of the abundance of sea turtles in surrounding waters, and the Cayman Islands coat of arms features a turtle on a crested helm. The Loggerhead (Caretta caretta) is one of several sea turtle species native to Cayman waters and is listed as Vulnerable by the IUCN. The coin programme serves both as bullion and as a celebration of the territory's marine heritage.

Loggerhead Turtle Silver Specifications

Larger silver formats of 1.5 oz and 2 oz are also available in some dealer inventories. Special variants include the Colour Proof edition (2023) with painted details and the "Alpha Strike" designation, a Scottsdale Mint concept where the first coins struck from fresh dies are marketed as premium collector variants with theoretically enhanced sharpness.

Gold Specifications

The obverse features the Cayman Islands Coat of Arms with a shield bearing a lion and three stars representing Grand Cayman, Little Cayman, and Cayman Brac. The reverse depicts a Loggerhead turtle swimming within a rope-encircled centre, with a sailing vessel and three stars above. Individual coins arrive in coin zip bags; multiples of 20 are packaged in tubes.

Loggerhead Turtle Tax Treatment by Country

The Loggerhead Turtle coins are legal tender of the Cayman Islands, issued by the Cayman Islands Monetary Authority. The Cayman Islands have no income tax, capital gains tax, or sales tax of any kind.

• UK: Silver coins are subject to 20% VAT regardless of legal tender status (only UK Royal Mint legal tender coins are treated differently for CGT). The gold coin at .9999 purity qualifies for investment gold VAT exemption. Cayman Islands coins are not CGT-exempt in the UK. Pre-owned silver may become available under the margin scheme through some dealers.
• US: No federal sales tax on bullion. State exemptions vary across roughly 35 exempt states. The gold coin's .9999 purity meets IRS requirements for precious metals IRA eligibility under Section 408(m). Capital gains on silver are taxed at the 28% federal collectibles rate.
• Canada: Silver at .999 purity meets the 99.9% threshold for GST/HST exemption. The 2025 silver at .9999 purity also qualifies.
• Australia: Silver at .999 purity meets the 99.9% threshold for GST exemption on investment-grade precious metals.
• Singapore: Silver at .999 purity meets the 99.9% threshold for GST-exempt Investment Precious Metals (IPM) status, provided the coin appears on the MAS-approved list.
• Cayman Islands: No taxes of any kind. Available directly from CIMA offices in George Town at face-value pricing (approximately US$50 per 1 oz silver coin).

Sea Turtles, Columbus, and the Cayman Connection

The Cayman Islands were literally named for turtles. When Columbus sighted the islands in 1503, the surrounding waters held such vast numbers of sea turtles that he dubbed them Las Tortugas. The name later shifted to "Cayman" (derived from the Carib word for crocodile, likely referencing the islands' native iguanas), but the turtle connection persists on the national coat of arms and throughout Caymanian culture.

The Cayman Islands Sea Life programme launched in 2018 with the Blue Marlin as the inaugural design. CIMA, better known internationally as a financial regulator than a coin issuer, partnered with Scottsdale Mint to create a bullion coin programme that celebrates the territory's marine biodiversity. The programme expanded in 2023 to include the Stingray and Loggerhead Turtle alongside the Blue Marlin, with all three species receiving updated designs in 2024 and 2025.

The 2025 silver edition marks a significant technical change: the purity was upgraded from .999 to .9999 (four-nines) silver, matching the standard set by the Royal Canadian Mint and Perth Mint. This positions the Loggerhead Turtle more competitively against established four-nines silver coins while also expanding its eligibility under investment precious metals exemptions in jurisdictions with stricter purity thresholds.

The Cayman Islands Dollar (KYD) is pegged to the US Dollar at a fixed rate of KYD 1 = USD 1.227. The coin carries a Cayman Islands Dollar denomination, making it one of a small number of bullion coins denominated in a currency pegged to but distinct from the US Dollar.

Loggerhead Turtle vs Other Turtle-Themed and Scottsdale Mint Silver

The most direct competitor is the Fiji Taku (now Hawksbill) from the New Zealand Mint, a turtle-themed bullion series that has been running since 2010 with higher mintages and better secondary market liquidity. The Taku/Hawksbill has a decade-long head start in brand recognition and dealer networks. The Loggerhead Turtle is newer and less established, but the Scottsdale Mint production quality and Cayman Islands legal tender status give it credibility that some newer turtle coins from Pacific microstates lack.

Scottsdale Mint also previously struck the Niue Hawksbill turtle series, making the Cayman Loggerhead effectively its successor or complement under a different sovereign issuer. Within Scottsdale Mint's own catalogue, the Loggerhead Turtle sits alongside the Gibraltar Lady Justice and other territory-issued programmes.

Against mainstream sovereign bullion like the Silver Britannia or Canadian Maple Leaf, the Loggerhead Turtle is a niche product. The 50,000 silver mintage is limited enough to support collector interest but large enough to ensure reasonable dealer availability. The Britannia and Maple Leaf, with mintages in the millions, offer tighter premiums and deeper liquidity. The Loggerhead Turtle competes on design appeal, the distinctive wavy-edge treatment, and the 2025 purity upgrade to .9999.

The gold version at 1,000 mintage is genuinely scarce by any standard and may carry secondary market premiums above melt value. For comparison, the Royal Mint's limited-edition gold bullion coins typically run at 5,000 to 10,000 pieces. At 1,000, the Loggerhead Turtle gold is among the more limited sovereign gold bullion coins available from a recognised issuing authority.