Coin proves to be quick-silver hit

Following a record-fast sellout of a silver commemorative coin to mark the 60th anniversary of the local coat of arms last year, a second edition of the coin has been minted.

The Cayman Islands Monetary Authority debuted the silver $5 coin just before Christmas, and it became the fastest selling coin in the authority’s history. Produced in collaboration with Celebrate Cayman, it sold out within 36 hours of arriving on island, according to CIMA.

Scottsdale Mint of Scottsdale, Arizona, which minted 250 of the 60th anniversary coins in early 2018, was also commissioned to carry out the second mintage, in which 350 of the coins were created.

The stylistic details of the second mintage “differ ever so slightly from the first edition, a move to protect the integrity and authenticity of each,” CIMA stated in a press release. The second mintage coin features the thatch rope and “Our Coat of Arms” in gold – elements that appeared in silver in the first mintage. The Coat of Arms is depicted on the obverse side of the coin with the 60th Anniversary logo in partial color on the reverse.

The one troy ounce of .999 fine silver coin was designed by Celebrate Cayman Committee Project Coordinator Kara Coe, and is the second commemorative coin she has designed for the Cayman Islands government.

“The popularity of these coins is clear indication of the interest and desire for people to celebrate and commemorate this milestone in a special way,” said Celebrate Cayman Committee Executive Chairman Alfonso Wright in the release. “This second mintage will give even more people the opportunity to purchase a piece of history and be part of the celebrations in this special way.”

The conferral of the Coat of Arms was made by Queen Elizabeth II on May 14, 1958. In May 2018, to celebrate the 60th anniversary, the Cayman Islands Government launched Celebrate Cayman, a two-year national initiative to tell the story of the Coat of Arms and Cayman’s first constitution, which was issued a year later, on July 4, 1959.

The coin is available for purchase from CIMA for CI$48.90 or US$60. Contact [email protected] or 244-1596 for more information.

Support local journalism. Subscribe to the all-access pass for the Cayman Compass.

Subscribe now