20 Vatu Lungs of the Earth

Vanuatu's Reserve Bank has made a habit of issuing thematic silver rounds aimed squarely at the collector market, with minimal domestic circulation intent. This piece belongs to that pattern — a sovereign issue in name, produced in fine silver at one troy ounce, for an economy where the vatu circulates in base metal at fractions of this value. The "Lungs of the Earth" theme references the archipelago's old-growth forests and reef systems, which environmental bodies have flagged as among the Pacific's most pressured ecosystems.