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PANAMA 1904....not the Franklin Mint!
bidask
Posts: 13,865 ✭✭✭✭✭
Republic 50 Centesimos 1904, KM5, Proof 66 PCGS Eliasberg, beautiful multi-hued toning over fully mirrored surfaces. An incredible coin to behold and a classic rarity in the Latin American series. Only 12 pieces were struck in Proof, and this example is certainly among the finest known.
From the Louis E. Eliasberg, Sr. Collection
Struck for Panama by the Philadelphia mint in 1904, inaugurated coinage for the newly independent republic. 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 Panamaniam coins sell for more than melt. The 1904 50 centesimos, equal to a Nicaraguan cordoba or a Peruvian sol, is common while the 1905 is quite scarce.
Recorded mintage: 1,000,000.
Specification: 25 g, .900 fine silver, .723 troy oz ASW.
Catalog reference: KM 5.
In 1904, the United States, under President Theodore Roosevelt, bought the French equipment and excavations, who had failed to originally complete the canal, for US$40 million, paid the new country of Panama US$10 million plus more each year, and began work on the Panama Canal on May 4, 1904. (In 1921, the United States paid Colombia US$10 million, plus US$250,000 per annum for several years; in return, Colombia recognized Panama under the terms of the Thomson-Urrutia Treaty
Trip through the Panama Canal
From the Louis E. Eliasberg, Sr. Collection
Struck for Panama by the Philadelphia mint in 1904, inaugurated coinage for the newly independent republic. 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 Panamaniam coins sell for more than melt. The 1904 50 centesimos, equal to a Nicaraguan cordoba or a Peruvian sol, is common while the 1905 is quite scarce.
Recorded mintage: 1,000,000.
Specification: 25 g, .900 fine silver, .723 troy oz ASW.
Catalog reference: KM 5.
In 1904, the United States, under President Theodore Roosevelt, bought the French equipment and excavations, who had failed to originally complete the canal, for US$40 million, paid the new country of Panama US$10 million plus more each year, and began work on the Panama Canal on May 4, 1904. (In 1921, the United States paid Colombia US$10 million, plus US$250,000 per annum for several years; in return, Colombia recognized Panama under the terms of the Thomson-Urrutia Treaty
Trip through the Panama Canal
I manage money. I earn money. I save money .
I give away money. I collect money.
I don’t love money . I do love the Lord God.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
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Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
BTW, the Franklin Mint coins did very well if you bought when silver was down as the monster 1975-79 sets have 5.7 oz silver. But they are pretty designs as well, and think the US Mint could have taken a page or two from their book.
It does seem that collecting of Panamanian coins has about dried up though otherwise...
Well, just Love coins, period.
Who did the engraving?
I have owned it about 5 1/2 years
I don't know who did the engraving ....
The proof mintage was 12 pieces.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
8 Reales Madness Collection