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Help Needed, Panama $1
Electricity
Posts: 311 ✭✭✭
Hi guys, first venture over here from the US Coin forum.
I don’t typically acquire paper.. especially world but I recently got this Panama Note.
Can you guys look it over and tell me IYO if it appears genuine before I send it off for authentication at pcgs.
Thanks Forum
1
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In my opinion, it looks real to me. I'm sure others will either agree or disagree. A side note - Panama issued notes in 1, 5, 10, and 20 Balboas only in 1941 and were in circulation for only a short time. Normally, they used U.S. banknotes since 1 Balboa = US$1.
Thanks, We examined it and figured it wasn’t the copy in polymer.
These are kinda scarce and worth good money.. just want to be very close to positive before sending it in and wasting a bunch
I have to concur with Electricity on this. Also, if you have a copy of the Standard Guide to World Paper Money, General Issues, the prices in there should give you a rough idea of what they're worth to a collector, but sometimes go for more in the auction.
Don’t have that book yet, will look into getting it.
Since our host is now grading paper again, seemed like a good time to try it out. Might send in a few other notes as well
What kind of "red flags" should banknote collectors be looking for. Especially this note being so rare. The likelyhood of it being a original is pretty low?
Nice note, the obv ink is strong. I think the creasing and stains will affect grading. IMO let us know how it fairs. Peace Roy
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They are known as "The Seven Days" dollar. There was a coup d'etat in 1941, a Nationalist leader took control and wanted to end American influence on Panama, particularly the Panama Canal and the usage of the American dollar as currency. The notes were ordered, delivered and circulated for seven days then another coup d'etat overthrew the government in favour of a pro-American government and the Balboa notes were quickly recalled.
It's genuine. Paper and printing look good and aren't easily copied.
It's known as the "Arias" issue, the name of the Nationalist leader mentioned by @SaorAlba
https://coinbooks.org/esylum_v18n20a18.html
All right guys, got it back from grading today. Top Pop at the moment!
It might be top pop at the new PCGS-C but there are UNC examples out there and despite it being worth quite a bit of money, they're not "rare" as rare goes. Yours is definitely above average condition, though with all the hallmarks of the issue very present.
It's a country that only issued the one series so for the 1-per-country collector, it's in relatively high demand. ANYWAY, it's a fantastic looking note! Congrats.