Going to Panama soon, any suggestions re: coins?

I'd like to collect some nice Panamanian/Latin American coins while I'm there. I know the old Balboa coins, but I don't know anything about where I can find such things in other countries without getting fakes or ripped off or what have you. My Spanish is quite bad, so that's another problem. But I would like to get some coins that I might not be able to find so many of in the States if possible. Does anyone have advice?

 

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Hallo Sir.
I'd say that it is not a big problem to find a coins of Panama in USA. Moreover! It is not a big problem in my homeland in Siberia too

 

So you are going to Panama! Make sure you bring a warm sweater & knit hat. It can get chilly in Panama this time of year. :devil:

I have never shopped for coins in Panama. I hope that someone with shopping experience chimes-in for you.

Have a great trip. (Don't take warm clothing. That was a joke).

 

Siberian Man: Nice coin! It does seem that lots of Panamanian coins are available here, especially considering the large American presence in Panama. Would be cool if I could get a deal on a silver full Balboa down there though.

Collect89: Thanks for your wishes. I've dealt with hot weather (try the Persian Gulf) so I'll be ready for Panama's tropical climate!

 

Hi tarantella. Here is 1 of my favorite 1904 Panama coins. these 50 centesimos coins get expensive in higher grades. I paid $100.00 for this XF/AU grade. I can usually tell what grade it is by the feathers in the helmet (if the feathers look fluffy and not worn). I am doing the whole denomination set for this type of coin. I also like the smallest coin a.k.a. "the Panama Pill" size 10 MM. I have 3 of them. 2 cleaned... not by me and 1 toned up nicely.

 

Very nice. I've heard of the Panama Pill, might try to get one in a shop if I can find it.

I have a few common Panama coins (50s-60s 10 and 25 cent coins.) One thing that strikes me about them is how they're exactly the size and purity of old US silver coinage. Maybe that was a conscious decision?

 

interesting thought. Hey tarantella I am feeling generous tonight... I will send you 1 of my Panama Pills for free. private message your full name and address to me and I will send 1 coin to you for free. sound good ? let me know and I will mail it off tomorrow. your friend, Craig (spirityoda).:kewl:

 

some were made here

 

I heard that Balboa currency is the same exchange rate as the US Dollar and is pegged at the same rate for a long time

Plus looking up the US mint foreign coin production...the US mint made millions of coins for Panama at the 4 US mints P,W,D and S
with the same composition and size as US coins
here is the link for yourself to look up http://minterrornews.com/foreign_coinage_production_figures.pdf page 31-36 but I think the list is not complete

so let us know what they use down in Panama - It wouldn't surprise me if they use good old George W too

 

A bag full of silver Panama hockey pucks would be nice.

 

I like the hockey puck

Would we rather have a bag full of the hockey pucks or an equal-size bag full of the Panama Pills? We might fit more silver in the bag using the pill size coin depicted. :smile

 

Since the Panamanian Balboa and the United States Dollar are linked 1:1, American coins circulate equally. Panamanians often receive change in both monetary units and the two currencies' coins are sized exactly the same. Golden dollars, both presidential and Sacajawea, are probably used much more often in Panama than at home in the USA (same situation exists in El Salvador and Ecuador). All paper currency is in US dollars. A very good friend of mine went to Panama recently and reported receiving wheat cents in change.

 

I guess I won't need to exchange any of my USD then. That's convenient. I'll still definitely pick up some local currency though.

The more I read about Panama, the more it reminds me of Lebanon, where I lived for a while two years ago. Similar climates, similar lax attitude towards... entertainment (Beirut is the Las Vegas of the Middle East.) And they both circulate the US dollar widely. The Lebanese use their local currency, the lira, pretty often for everyday business, but larger purchases are almost always made in dollars, and there are tons of dollar bills circulating. I never once saw any American coins, though, which I thought was interesting. Just singles, hundreds and occasionally a few bills in between.

 

hundreds are the most widly circulated american bills in the world

 

tarantella- just mailed you that Panama Pill coin. you should get it in 3-4 days. let me know that it got to you. thanks, Craig.

 

I think you are going have to have a lot of fun finding all kinds of coins. Enjoy!

 

Very small but very nice silver coin...

 

ok. here goes smallest Panama coin to the largest for this type coin. you have seen the largest 50 centesimos coin already. starting small:

2 1/2 centesimos

 

1904 2 1/2 centesimos a.k.a. "Panama Pill"



1907 1/2 centesimos