The 1813 Holey Dollar coin was stolen from a museum in Torun in north-central Poland between 2011 and 2018, leading Polish authorities on a global hunt, the Australian Federal Police (AFP) said.
The coin was first exported into Germany, where it was offered for sale in two auctions.
From there, it made its way to Melbourne, where it was sold at auction to a collector in Perth for $A525,000, the AFP said.
The coin was surrendered to police willingly, the AFP said, adding that all Australian parties were unaware at the time it had been stolen.
It had been returned to representatives of the Polish government in a ceremony.
AFP Commander Renee Colley said the handover was a landmark for relations between Australian law enforcement and the Polish government.
"This is the first object for which the Australian Government has received a restitution request from the Government of the Republic of Poland," Colley said.
"The AFP is delighted to have played a role in returning this important artifact to the Polish government."
Poland's chargé d'affaires Marcin Kawalowski praised Australia's efforts in having the object returned.
"As a diplomat, I obviously recognise the importance of official agreements and political declarations, but it gives me great satisfaction when I can witness the practical dimension of successful bilateral co-operation," he said.
The coin was struck from a Spanish silver dollar minted in 1777 during the reign of King Charles III of Spain. The object is also of significance to Australia as Holey Dollars were created to address a shortage of coins in NSW.
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