You probably know the United States was instrumental in Panama becoming an independent republic in 1903 when it successfully seceeded from Columbia. Up to 1904, as part of Columbia, the Columbian Peso and its centesimo counterparts were the circulating business coinage. Before we get into the coins of Panama, I have a surprise for you. In 1868 it was apparent to the governing faction of Panama that a shortfall of currency was going to be a factor in 1869 and that eventuality needed solving. Since Columbian authorities weren't going to act upon the problem, the faction decided to do something about it themselves. They decided to issue One Peso banknotes in 1869: Here's links, courtesy of Bank Note World, showing the obverse and reverse of these 1869 One Peso Notes: http://www.banknoteworld.com/banknotes/panama/PanamaPS721(colombia)-1Peso-1869-donated_f.jpg http://www.banknoteworld.com/banknotes/panama/PanamaPS721(colombia)-1Peso-1869-donated_b.jpg Now I'm going to reveal another not-so-well-known bit of trivia: In 1941 Panama issued banknotes in denominations of 1, 5, 10 and 20 Balboas. Before giving you the links to the images, there is a fascinating (to me) fact you may enjoy knowing. The notes were issued, but recalled 7 days later, and are now referred to as the "Seven Day Dollars." No other paper currency was ever issued by Panama. Here's the links: First the One Balboabverse: http://www.banknoteworld.com/banknotes/PANAMA/PanamaP22-1Balboa-1941_f-donated.jpg Now the reverse: http://www.banknoteworld.com/banknotes/PANAMA/PanamaP22-1Balboa-1941_b-donated.jpg Here's the Five obverse: http://www.banknoteworld.com/banknotes/panama/PanamaP23-5Balboas-1941-donatedLynKnight_f.jpg Now the reverse: http://www.banknoteworld.com/banknotes/panama/PanamaP23-5Balboas-1941-donatedLynKnight_b.jpg Here's the Ten obverse: http://www.banknoteworld.com/banknotes/panama/PanamaP24-10Balboas-1941-donatedLynKnight_f.jpg Now the reverse: http://www.banknoteworld.com/banknotes/panama/PanamaP24-10Balboas-1941-donatedLynKnight_b.jpg And here's the 20 obverse: http://www.banknoteworld.com/banknotes/panama/PanamaP25-20Balboas-1941-donatedLynKnight_f.jpg And finally the reverse: http://www.banknoteworld.com/banknotes/panama/PanamaP25-20Balboas-1941-donatedLynKnight_b.jpg I hope you enjoyed learning that. If you traveled to Panama and stopped someone on the street and asked him or her to show you the change in their pocket or purse, would you be surprised to see a few Panamanian coins mixed in with some United States coins? Or would you be surprised to learn all the bills in their billfolds and purses were United States Federal Reserve Notes? If you ever visit Panama, you will not have to exchange your American coins and Federal Reserve Notes for Panamanian currency because American money is legal tender in Panama and is interchangeable one to one Always was since 1905. As we get into the first coinage of the new Republic you will notice it is dated 1904, but historians will quickly let you know it was not issued into circulation until 1905. The first coins were silver coins dated 1904 and include the 2½, 5, 10, 25 and 50 centésimos. Here's images courtesy of Don's World Coin Gallery; http://worldcoingallery.com/countries/coin.php?image=img13/138-1&desc=Panama%20km1%202.5%20Centesimos%20(1904)%20Panama%20Pill http://worldcoingallery.com/countri...138-2&desc=Panama km2 5 Centesimos (1904,1916) http://worldcoingallery.com/countries/coin.php?image=img3/138-3&desc=Panama km3 10 Centesimos (1904) http://worldcoingallery.com/countries/coin.php?image=img11/138-4&desc=Panama km4 25 Centesimos (1904) http://worldcoingallery.com/countri...38-5&desc=Panama km5 50 Centesimos (1904-1905) No other coins were authorized by Panama until 1907. They are cupro-nickel ½ and 2½ centésimos coins, followed by cupro-nickel 5 centésimos in 1929. Here's the 1907 issues: http://worldcoingallery.com/countries/coin.php?image=img12/138-6&desc=Panama km6 1/2 Centesimo (1907) http://worldcoingallery.com/countri.../138-7&desc=Panama km7.1 2.5 Centesimos (1907) And here's that 1929 5 centesimos: http://worldcoingallery.com/countri...138-9&desc=Panama km9 5 Centesimos (1929,1932) . In 1930, coins of tenth, quarter and half-Balboa were introduced, followed by 1 balboa in 1931, which were identical in size and composition to the corresponding U.S. coins. (dime, quarter, half dollar and dollar). Here's those 1930 issues: http://worldcoingallery.com/countri...ma km10.1 1/10 Balboa (1930-1947) High relief http://worldcoingallery.com/countri...11_1&desc=Panama km11.1 1/4 Balboa (1930-1947) http://worldcoingallery.com/countri...12_1&desc=Panama km12.1 1/2 Balboa (1930-1947) Here's the 1 Balboa images. These were minted 1931 through 1947. Note: The 1904 and '05 50 Centesimos coins were the same size and silver content as a crown coin. To make the 1931 Balboa, a total of 1,000,000 of those two issues of 50 Centesimos coins were melted. The 1931 Balboa was struck by the San Francisco Mint. http://worldcoingallery.com/countri...13 1 Balboa (1931-1947) Vasco Nunez de Balboa In 1935, bronze 1 centésimo coins were introduced and again in '37. http://worldcoingallery.com/countri...38-14&desc=Panama km14 1 Centesimo (1935,1937) 1¼ centesimos pieces were minted in 1940. http://worldcoingallery.com/countri...138-15&desc=Panama km15 1.25 Centesimos (1940) In 1966, Panama followed the U.S. in changing the composition of their silver coins, with cupro-nickel-clad-copper tenth, quarter coins and .400 fineness half-balboas. http://worldcoingallery.com/countri...-10a&desc=Panama km10a 1/10 Balboa (1966-1993) http://worldcoingallery.com/countri...8-11a&desc=Panama km11a 1/4 Balboa (1948-1993) http://worldcoingallery.com/countri...a_1&desc=Panama km12a.1 1/2 Balboa (1966-1993) 1 balboa coins were issued in 1966 for the first time since 1947. http://worldcoingallery.com/countri...3/138-27&desc=Panama km27 1 Balboa (1966-1974) Note: There is an exception to this, In 1953 a special commemorative 1 Balboa was struck honoring the Republic's 50th Anniversary: http://worldcoingallery.com/countri...=Panama km21 1 Balboa (1953) 50 yrs. Republic In 1973, cupro-nickel-clad-copper half-balboas were introduced. http://worldcoingallery.com/countri...m12b 1/2 Balboa (1973-1993) cu-ni clad copper Further issues of the 1 balboa have been made since 1982 in cupro-nickel without reducing the size The '82 through '84 coins featured General Omar Torrijos http://worldcoingallery.com/countri... km76 1 Balboa (1982-1984) Gen. Omar Torrijos. 5, 10 and 20 Balboas were made for collectors:: http://worldcoingallery.com/countri... km28 5 Balboas (1970) Central American Games http://worldcoingallery.com/countri...38-30&desc=Panama km30 5 Balboas (1972) F.A.O. http://worldcoingallery.com/countri...km40.2 5 Balboas (1975-1982) Belisario Porras I wasn't able to find an image if a 10 Balboa coin, but here's a 20: http://worldcoingallery.com/countri...138-31&desc=Panama km31 20 Balboas (1972-1976) Before I end this trivia, let's look back at that1904 2 1/2 silver centesimos. The image of the coin tells part of the story for with the image is a ruler whose divisions are in millimeters. Because it was made of silver it had a unique poisition in the hearts of the Panamanian people. The coin was the smallest coin Panama ever authorized, and if not the smallest in the world, one of the smallest. The silver 2 1/2 centesimos coin was affectionately called the "pill" by the Panimanian people. Because of the Panamanian word for "pill," and their pronunciation of :the word, many tourists went home referring to the tiny coin as the "pearl." http://worldcoingallery.com/countri...=Panama km1 2.5 Centesimos (1904) Panama Pill This "pill" was so loved by the populace, tourists and coin collectors a special non-silver commemorative "pill-sized" coin was struck from 1975 through '82: http://worldcoingallery.com/countri...ama km34 2.5 Centesimos (1975-1982) pill size That ends this trivia, did you enjoy it? Clinker
I always look forward to your trivia, but this time, you REALLY did it. It's going to be hard to top this one. Thanks again.
Thanks, Clink. I've had a bunch of Balboa's I picked up about 20 years ago for about three dollars each. I kept them because they are silver, but never really knew the story behind them. Learn something new every day here. Guy~
Nice story. However, it is one of the ones I will not print out due to all the Links instead of the facts shown. I like it better when you just tabulate everything so when I print it out it is complete. With the links you show, in a year or so they may no longer exist. That is why I prefer you articles when complete.
Topher Thanks Topher, Am I blushing?...Seriously, when I started out on this subject, it just kept growing...everything took on its own importance... so I kept sharing what I discovered about the numismatic history of Panama...and I picked up a few coins for mysrl's indulgence and I'm thinking about getting a few more! Clinker
coleguy You know coleguy? Everytime I do research for an article, I learn something too...and when someone (like you) comments favorably about it, it gives me a high better than any drug could produce! Thank you for that! Clinker
Just Carl I'll give you some photo-less articles in the future..or, at the least, try to arrange the contents of the article so it won't matter if you copy the article minusd the photos... Clinker
Great. As I said in the past, I print out almost all your articles and have them in 3 ringed binders. Starting to look like a Clinker library here. Keep up the good work.
Very nice ! Thank you, Clinker. It is interesting timing, too. I just found a 2001 Balboa in my change from a vending machine, last week.
My understanding is that you'd probably get mugged. I was down there in about 1980 or 1981 in Panama City and during the day you were okay pretty much anywhere. But at night you stuck to the main streets (like Via España), and you DEFINITELY didn't go into Balboa. And Colón was supposed to be NOT nice at any time. But, yes, much of the coinage was Panamanian. Rather appealing design too.
