Rarity and Questions: 1983 FM Panama 1/4 Balboa Proof with "Ley 0.500" Reverse
This coin is likely not an error, but more of an uncatalogued pattern, and have included a standard proof for reference. No Franklin Mint 1/4 balboas were ever struck in silver (the designation on reverse "Ley 0.500" stands for legal standard 0.500 silver), and by 1983 even the larger 1, 5, and 20 Balboas were struck in 0.500.
The part I don't know, and it may be speculative, is that 1983 would have represented the 80th Anniversary of Panama's founding so perhaps this was a pattern for a set that was considered and would have been struck in silver.
Are any readers aware of other 1983 denomination patterns of this year, or smaller denomination coins struck in silver with or without this designation?
There were many other "errors" in the 1975, 1976, and 1982 years with base metal currency coins struck with silver fineness, and a 1982 Proof 5 Balboa that was struck in 0.500 with "Ley 0.925" Reverse. I guess this specimen would be the rarest of all of these at this point?
Well, just Love coins, period.