Beginning in the late 1990s and continuing into the early 2000s, the Royal Canadian Mint ("Mint") embarked on a commemorative coin program featuring Canada's 10-cent coin.
Of course, Canada's first commemorative 10-cent piece was issued in 1967 as part of the series commemorating Canada's Confederation Centennial. The 1967 coin featured a mackerel on its reverse rather than the standard
Bluenose schooner. The 1967 coin was the work of Alex Colville; he designed each of Canada's 1967 commemorative coins, with each featuring an animal native to Canada. The coin was struck for circulation as well as in special, non-circulating collector versions.
The first standalone commemorative 10-cent coin struck specifically for collectors was the 1997 piece that commemorated the 500th anniversary of John Cabot's voyage to Canada. Per the Mint's simple packaging for the coin, "This coin commemorates the momentous voyage, from Bristol, England to the east coast of Canada, made in 1497 by John Cabot (Giovanni Cabato)."
Giovanni Caboto was born circa 1450 in Genoa (perhaps Gaeta) Italy. He moved to Venice with his family while a child, and became an official citizen of Venice in 1476. He moved to Bristol, England circa 1490-95, where he gained the support of King Henry VII and was commissioned to sail to the New World on behalf of England in 1497. He set sail from Bristol on May 20, 1497.
On June 24, 1497, he sighted land, though the exact location is debated. Some believe it to be present-day Newfoundland, others Labrador and others Cape Breton Island. Regardless, Cabot claimed the land for King Henry VII and England. Cabot returned to Bristol on August 6, 1497. The voyage laid the foundation for the centuries-old relationship between Great Britain and Canada.
The coin was available as an individual proof in a plastic case with white paper slip case (shown here); it had an issue price of $10.95 CAD. The coin was also sold in a special package that included the Mint coin and the Cabot stamp issued by Canada Post; the set's issue price was $19.95 CAD (to be covered in an Addendum to this post). The individual coin had total sales of 49,848, the sales figures for the commemorative coin-and-stamp package have not been reported.
The commemorative reverse design of the coin depicts Cabot's three-masted ship, the
Matthew under sail in the open sea. The ship displaced ~85 tons (tonnes); the voyage to 'Canada' featured a crew complement of 20. The design is the work of Donald H. Curley (his initials "DHC" can be seen to the right of the ship, below "1997".
The Proof coin was struck on a sterling silver planchet (0.925 silver, 0.075 copper) with a diameter of 18.00 millimeters and a weight of 2.4 grams.
1997 John Cabot Silver Ten-Cent Coin
1997 John Cabot Silver Ten-Cent Coin - Slipcase

For other of my posts about commemorative coins and medals, including more Canadian numismatics stories, see:
Commems Collection