Tasmania was first settled by Europeans in 1804 as a penal settlement. At that time, the island was known as 'Van Diemans Land'.

The reverse design captures the spirit of sea travel and exploration, the rich cultural heritage of Tasmania and the rugged beauty of her flora. In the center is a commanding image of the Lady Nelson with sails full on the ocean breeze. A map of Tasmania appears in the background and over it are meticulously rendered leatherwood blooms which are native to the island.

The coin is housed, encapsulated in a two-piece Tasmanian Oak timber case held together by embedded magnets. The case and accompanying numbered certificate of authenticity are protected by a green outer cardboard box.