I got this recently from an obscure European source along with some other coins (the others disappointed me). GTG if you wish but had a hard time matching this in the past; I will first post the putative obverse - guess the denomination. These have recently gone high when slabbed at auction….. At one time Panamanian coins of this vintage and similar condition went for cheap. As an example I got some ex- Michael Peykar coins and for a two coin lot that included a 1904 25 c. Piece and a 1905 50 c. That later graded at PCGS MS65 and 62 respectively for about $275. These have gone semi-ballistic…. Here’s the reverse: Here is the 1905 50 c.
I agree that the values are skyrocketing. Especially on the 1905. Perhaps the reality of a low survival of an already low mintage finally caught other collector's attention. Myself, I looking for a 1904 denominational set for the United States historical connection. Both our mint (Charles E. Barber) and the canal construction.
I have been wanting to buy MS examples, I just don't see many that are for sale (in hand). It's a great looking coin.
I recall recently that an MS64 5 c. went for USD 1600+! I want to have a graded set of the earlier coins and got a 1904 that had been sadly very slightly wiped many years ago - I will put a picture up later. That coin in all likelihood was proof like originally and somebody tried to "improve" it or wipe so-called tarnish off..... I took angled shots of the obverse trying to show the PL surfaces on the obverse:
