Panama 1934 balboa
This specimen was struck for Panama by the Philadelphia mint in 1934. In the original system, one balboa = 2 U.S. dollars, and 2½ centesimos, 5 centesimos, 25 centesimos and 50 centesimos were struck to this standard 1904-16. In 1930, the system was reorganized and one balboa = one dollar and all new types issued. The United States mint struck coins for Panama using U. S. blanks. Unfortunately, collecting Panamanian coins lost its popularity after the Franklin mint overissued proof sets and commemoratives in the 1970's and 1980's. Today, few Panamanian coins sell for more than melt. This specimen was part of lot 28655 in Heritage sale 3022 (New York, January 2013), which sold for $305.50. The catalog description noted, "Republic silver Quintet 1904-53, ...Balboa: 1934,...About Uncirculated; ....The uncirculated pieces are fully lustrous."
Recorded mintage: 225,000.
Specification: 26.73 g, .900 fine silver, .773 troy oz ASW, 38.1 mm diameter.
Catalog reference: KM 13.
- Cuhaj, George S., and Thomas Michael, Standard Catalog of World Coins, 1901-2000, 42nd ed., Iola, WI: Krause Publications, 2014.
- Bierrenbach, Cristiano, Warren Tucker and David Michaels, Heritage World and Ancient Coins Auction 3021, featuring the Cecil Webster, Richard P. Ariagno and Elizabeth McPhall Charters Collection, Dallas: Heritage Auction Galleries, 2012.