Rarity and Questions: 1983 FM Panama 1/4 Balboa Proof with "Ley 0.500" Reverse (Update)

7Jaguars

Update at bottom of post -

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?

coinkat

Any idea how many may exist? I have not seen or heard of this before in connection with the denomination or date...

7Jaguars

I think this might be the only one. Richard Stuart was not able to get one in his really magnificent collection. The 1982 1 Balboa currency turns up every once in a while with mintage of 11; this one not at all.
An eBay find at $25.00 about 5/6 years ago.

7Jaguars

Unlike the other error 1982 Balboa and 5 Balboa coins (and the 1975 and 1976 one and five Balboa coins), this is not a mule or error as NO 1/4 balboa coins were struck in silver with the "Ley 0.500". Therefore this would have to be a pattern and not an error or mule.

7Jaguars

I tried to cross at our hosts but they declined, refunded it with no opinion rendered. I assume because nobody had catalogued it. Anyway, here it is raw:

PS - there is plastic between skin and coin though you can't see it.

tcollects

@7Jaguars said:
I tried to cross at our hosts but they declined, refunded it with no opinion rendered. I assume because nobody had catalogued it. Anyway, here it is raw:

PS - there is plastic between skin and coin though you can't see it.

this is where hairlines come from

7Jaguars

Well, careful that there was not translational movement of coin, which I in any case lightly treated with pure acetone and a mild soapy wash followed with plentiful irrigation and tamp dry with the white cotton hi nap towel so probably not too much happened.