I noticed an ad at an unnamed auction site, a seller stated that his Hawaii flag silver ingot was the real thing and all others were unscrupulously being offered for sale. Misinformation and incomplete knowledge led to this seller’s statement.
There are actually 6 known Hawaiian flag sterling silver ingots that were issued by a single manufacturer prior to 1991. This is how to identify these ingots.

The first group is identified by the reverse of the ingot. It has the words “HAWAII” (all capitalized), underneath are the words “The Aloha State” and “Flag Adopted: April 8, 1896”. These are proof sterling silver ingots as identified by the M&R catalog numbers:
- 2SI-18 (aka full size)
- 2SI-19 (aka mini)
- Wait, M&R incorrectly stated the mintage figures (see below)…

The second group is also identified by the reverse of the ingot. It has the words “THE HAWAIIAN FLAG” (all capitalized) with text “This flag flew over independent Hawaii from 1845 until the United States agreed to annex the territory August 12, 1898 Continues in use today as state flag.” These are proof sterling silver ingots as identified by the M&R catalog numbers:
- 2SI-16 (aka full size)
- 2SI-17 (aka mini)
- Wait, M&R incorrectly stated the mintage figures (see below) and missed the 24KT gold on silver …

If you review page 149 of M&R. You are going to still be confused due to the visual grouping (Hawaii Flag and with its varieties listed). A more cleaner listing using the THN catalog number and to correct mintage totals and gold omission.
- THN-FM-FOSI-01, The Aloha State Flag, sterling silver, proof, mintage 5,803
- THN-FM-FOSI-02, The Aloha State Flag, sterling silver, mini ingot, proof-like, mintage 3,576
- THN-FM-FOAI-01, The Hawaiian Flag (set), sterling silver, proof, mintage 4,892
- THN-FM-FOAI-02, The Hawaiian Flag (individual sold), sterling silver, proof, mintage unknown
- THN-FM-FOAI-03, The Hawaiian Flag , 24KT gold on 0.500 silver, proof, mintage 1,124
- THN-FM-FOAI-04, The Hawaiian Flag , sterling silver, mini ingot, proof-like, mintage 18,412
Source sets are to be identified in the book currently being written. The gold on 0.50 silver is a new find!
From the mintage total, I would be looking for the gold on 0.50 silver ingots as the key to complete the Hawaiian Flag ingot set.
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