The Nautical Ounce silver coin is a Rwandan silver coin issued annually since 2017. Each coin in the series commemorates a historically significant sailing ship, celebrating vessels that shaped exploration, trade, and naval innovation.
Historical Context of Nautical Ounce Terminology
Despite its name, there is no official measurement known as a “nautical ounce.” The creative term links maritime history with precious metals. Each coin weighs one troy ounce, with the exception of several three-ounce issues and a forthcoming 1/12-ounce issue. The nautical reference symbolically ties silver’s intrinsic value to the spirit of global navigation.
Issuance and Partnership
The B. H. Mayer Mint in Munich produces the coins under agreement with the Republic of Rwanda. Since the inaugural 2017 release, every year has introduced a new design. Each Nautical Ounce coin measures 40 millimeters in diameter with a reeded edge to deter tampering. Standard bullion strikes ship sealed in protective acrylic capsules, while select proof and high-relief issues are paired with numbered collector boxes and certificates of authenticity.
Design of the Silver Nautical Ounce Coin
Obverse Design
The obverse of each issue in the series features the national coat of arms of Rwanda. Inscriptions list the issuing bank, the Central Bank of Rwanda, the nation, the Republic of Rwanda, the face value, and the national motto, Unity, Work, Patriotism. A ropework nautical knot frames the central obverse design.
Reverse Designs
The reverse design features a historically significant ship in full sail each year. The ships are accompanied by nautical tools like a sextant, rhumb lines, and a compass rose. Inscriptions on the reverse for the weight, purity, and date are around the edge of the design, while the ship’s respective names are inscribed below them in the water through which they sail.
Silver Nautical Coin Issues by Year
2017 Santa Maria
The 2017 Santa Maria issue featured Christopher Columbus’s westward journey and depicted the ship sailing west. The Santa Maria was a 62-foot-long medium carrack and served as Columbus’ flagship.
2018 HMS Endeavor
The 2018 coin shows the HMS Endeavor, which served Captain James Cook during his exploration of the Pacific. The flat-bottomed Royal Navy research vessel is depicted cutting through the ocean with full sails billowing in the wind.
2019 Victoria
The 2019 Nautical Ounce issue features the Victoria with full sails, a globe, and celestial tools, referencing Magellan’s legendary voyage. The Victoria was constructed by Basque builders and named for the Santa Maria de la Victoria de Triana, the church where Magellan pledged his allegiance to Charles V.
2020 Mayflower
The 2020 issue depicts the Mayflower sailing across the Pacific Ocean alongside a sextant and telescope. It was released on the 400th anniversary of the Mayflower’s historic voyage.
2021 Sedov
In 2021, the Sedov issue was depicted surrounded by polar stars and stylized waves. The Sedov was christened as a German ship, but it traded hands and found a Russian name after World War II. It was named for Georgy Sedov, a famous Russian explorer, and is considered the largest traditional sailing ship still sailing today.
2022 USS Constitution
The 2022 USS Constitution Nautical Ounce silver coin honored a ship affectionately referred to as Old Ironsides, a wooden-hulled frigate launched by the U.S. Navy in 1797. The USS Constitution is the world’s oldest commissioned naval warship and is still afloat today. In addition to silver issues, the USS Constitution Nautical Ounce release was issued as a Rwandan gold coin with a face value of 100 in an extremely limited mintage.
2023 Great Eastern
The 2023 Great Eastern issue of the Nautical Ounce series depicts a steamship with an iron hull that was the largest ship on earth when she was launched in 1858. It held that distinction for five decades and, at that time, carried nearly 14,000 miles of telegraph cable in 1865. The design of the coin uses smokestacks and signal cables to emphasize its role in telegraphy.
2024 Cutty Sark
In 2024, the Nautical Ounce series featured the Cutty Sark, a British clipper ship, and one of the last tea clippers built. Tea clippers were merchant vessels designed for speed, and the coin depicts the Cutty Sark in full sail.
2025 HMS Victory
The 2025 HMS Victory honors the oldest naval vessel still in commission. The 104-gun sailing ship of the line issue of the Nautical Ounce series shows its cannon ports and naval signal flags between full masts and crashing waves.
Cultural, Educational, and Historical Significance
The Nautical Ounce series serves as a visual archive of maritime history. The coins highlight major advancements in naval exploration, communication, and scientific discovery. Museums and educators use these designs to explore historical themes with depth and accuracy.
Investment and Collectibility
Although Rwanda is landlocked and does not have a strong maritime history, the series has attracted the attention of collectors and investors interested in nautical history who appreciate its low mintage, high purity, and striking designs.
Each coin carries silver and a face value, but limited mintages often increase demand and scarcity. Proof editions range between 2,000 and 5,000 pieces. High-relief variants range between 800 and 2,000. Some special editions, such as colorized or antique finishes, have mintages of 500 or fewer. Top-graded pieces, such as MS-70 or PR-70, earn strong premiums.
Collectors value early releases like the Santa Maria and Mayflower for their historical relevance and limited original availability. The series has remained popular for its consistent execution and investment potential. The series will continue through at least 2025. Future themes may explore submarines, merchant fleets, or scientific vessels. The series’ future success will depend on artistic quality, mintage discipline, and advanced security features.
The Nautical Ounce Silver Coin series delivers artistic excellence and maritime history in each design. The collection has earned recognition from investors and historians, anchoring itself as one of the most respected maritime-themed bullion series available.
