US Minted Panamanian Coinage & How The Panama Canal Was Constructed

1630Boston · January 29, 2024 10:25AM

For much of its history, Panama’s coins were struck by the U.S. Mint. Starting in 1975, however, much or all of the circulating coins have been struck by the Royal Canadian Mint. The privately-owned Franklin Mint and the Valcambi precious metals refinery in Switzerland (which is privately owned ultimately 95 percent by a Singapore company and 5 percent by a company in India) have also struck Panamanian coins, especially commemorative issues.

US Army engineers managed to accomplish this feat, and the system was able to raise ships 85 feet above the sea level into the gigantic man-made dams from either end. By lifting the ships into the lake, they were not required to be excavated down to the sea level, which saved millions of dollars and years of work.

For a ship to pass through the Panama Canal from the Atlantic side, it would have to navigate through seven miles of dredged canal at sea level. Then at Gatun, the ship enters the dam that holds back the water in Gatun Lake. The vessel would rise a three-step lock and eventually enter the man-made lake.

After passing through the Culebra Cut, the lake ends at Pedro Miguel, where the ship is dropped down a one-step lock into another relatively small intermediary lake before taking the final two steps back to sea level at Miraflores.

Today, the Panama government charges up to $400,000 for the largest container ship (Panamax) to pass through the canal. But it still is a bargain when compared to the alternatives of a two-week voyage around Cape Horn.

Does anyone have some US Minted Panamanian coins they would like to post?
boston

mark_dak · January 29, 2024 11:58AM

I'm not a world coin collector but found a few laying around. All 1966-1970 time frame.

The canal was quite an undertaking... kind of literally speaking... but a huge advancement for everyone.

Mark

2windy2fish · January 29, 2024 12:52PM

The Panama canal has a fascinating and rich history behind and a lot of international grief.
And has saved the world billions of dollars in shipping costs…
And the Balboas are cool!
I’ll have to admit that i did not know they were struck by the US mint.

1630Boston · January 29, 2024 12:54PM

nice coins @mark_dak
boston

mark_dak · January 29, 2024 1:46PM

@2windy2fish said:
The Panama canal has a fascinating and rich history behind and a lot of international grief.
And has saved the world billions of dollars in shipping costs…
And the Balboas are cool!
I’ll have to admit that i did not know they were struck by the US mint.

I didn't either. From what I can tell the Cinco Centesimo almost certainly was(Denver and San Francisco - No mint marks).

Not sure but it seems a couple of these 1/10 Balboas may have been minted in London and one may be a San Francisco minted coin if I'm seeing things right.

The quarter Balboas of these dates were minted in San Francisco.

Mark

Mr Lindy · January 29, 2024 4:19PM

My 1966 Medio Balboa was struck in San Francisco on 40% US Silver Half planchet. It is listed however, as having been struck in Canada RCM but I own a publication from 1967 that says Uncs were struck in US.

I own a few US made striking errors for Panama. Fun stuff that never left California, till I bought the entire group 35+ years ago. All flawless, shiny & new. This one is my favorite:

coinkat · January 29, 2024 6:28PM

coinkat · January 29, 2024 6:41PM

CRHer700 · January 29, 2024 8:16PM

These are the only pre 1975 coins I have:
Both were found in US circulation.

TomB · January 29, 2024 8:38PM

Great post!

pruebas · January 30, 2024 12:18AM

Philadelphia Mint (1904) Obverse "Motif" Trial for Panama 50 Centésimos (ex Isaac Rudman, ex Wayte Raymond)

Philadelphia Mint (1904) Reverse "Motif" Trial for Panama 50 Centésimos (ex Isaac Rudman, ex Wayte Raymond)

MWallace · January 30, 2024 3:41AM

@pruebas said:

Philadelphia Mint (1904) Obverse "Motif" Trial for Panama 50 Centésimos (ex Isaac Rudman, ex Wayte Raymond)

Philadelphia Mint (1904) Reverse "Motif" Trial for Panama 50 Centésimos (ex Isaac Rudman, ex Wayte Raymond)

Super cool!!!!!

1630Boston · January 30, 2024 5:11AM

@Mr Lindy
That would be my favorite also
boston

7Jaguars · January 30, 2024 8:26AM

Ex- Michael Peykar. (Sp?) Even more colour in hand with great underlying lustre.

7Jaguars · January 30, 2024 12:36PM

Obverse die for 1/4 Balboa, 1982...

Proof Obverse die of One Centimo, 1982 from US Mint...

For the Mike Byers' crowd:
Panama 1972 Flip-over Double strike 1/10 Balboa - this is a proof coin!

1630Boston · January 30, 2024 1:03PM

@7Jaguars
You don't see those every day
thanks for sharing them with us
boston

Crypto · January 30, 2024 4:13PM

Old man memory fail, I swore I had a Panama canal completion medal in my random box but I dug it out and it is a matte Suez Canal in silver. Might as well share anyway at this point

GoldenEgg · January 30, 2024 9:07PM

To my eyes, this looks nothing like a US Mint die. The Franklin Mint struck the proof 1982 Centesimos and a small cache of the Franklin Mint dies and hubs were sold some years ago. What source is indicating this is a US Mint die?

@7Jaguars said:
Proof Obverse die of One Centimo, 1982 from US Mint...

BLUEJAYWAY · January 30, 2024 9:35PM

Boston:Thanks for bringing to the table (forum) another interesting thread.

7Jaguars · January 30, 2024 11:14PM

In fact that is a US mint die, as the FM designs are decidedly different and a ready perusal of ebay or other sources will show. The FM version is a 3/4 facing design with the US Mint design just like the die - in profile.
Many of the US Mint dies were used to strike various combinations of 1982 Panama struck over US Coins - IMHO this was done outside the US Mint.
Please don't be so decisive in statements without doing the research first.

GoldenEgg · January 31, 2024 2:36AM

@7Jaguars said:
In fact that is a US mint die, as the FM designs are decidedly different and a ready perusal of ebay or other sources will show. The FM version is a 3/4 facing design with the US Mint design just like the die - in profile.
Many of the US Mint dies were used to strike various combinations of 1982 Panama struck over US Coins - IMHO this was done outside the US Mint.
Please don't be so decisive in statements without doing the research first.

Just a bit of cognitive dissonance there…

Regardless, I am still unconvinced that it is a US Mint die. Their dies, at any US Mint facility, just don’t look like that. Not then and not now. I can see that the Franklin Mint issue that was produced in 1982 has a different design. But the problem with your explanation is that the die in the photos is a proof die, and it appears that the US Mint didn’t strike this design in proof in 1982.

So, you have a proof die for a design that the US Mint only struck as a business strike.

After doing a little more digging, this might be a die for one of the Piefort trial strikes that was NOT struck by the US Mint. That is the most likely scenario, in my opinion. I’m not a Panamanian coin expert, but I do know the Mint didn’t produce dies like this one, even based on the photo that doesn’t show the die in full.

DrDarryl · January 31, 2024 4:26AM

https://www.coins-of-panama.com/canalmedals.html, I've been studying this POTUS medal and list of recipients.

Obverse CM-10.0:
"...the center of the medal has a three-quarter bust of President Theodore Roosevelt. Near the bottom of the bust in the field on the right in small letters is the name of the designer "V.D. BRENNER". "

Reverse design CM-10.0
"Inscribed along the border, starting at the bottom left it says "PRESENTED BY THE PRESIDENT OF THE VNITED STATES" (note the Roman style lettering which renders the letter "U" as "V"). Along the bottom border, with a divider on either side is "No" and the medal serial number, some space, and then the years of service. In the example above it says "No 6435 1911-13". The center of the medal has a bird's eye view of the finished Culebra Cut, steamers passing through, Gold Hill on the left and Contractor's Hill on the right. Above the horizon is the motto "THE LAND DIVIDED THE WORLD UNITED". In the bottom center appeared the shield of the Canal Zone showing a Spanish Galleon going through the canal. "

Mr Lindy · January 31, 2024 4:54AM

Found my 1980's Panama USA production info imaged with my ancient iphone6 long ago

Originally from Coin World;

7Jaguars · January 31, 2024 5:31AM

@GoldenEgg said:

@7Jaguars said:
In fact that is a US mint die, as the FM designs are decidedly different and a ready perusal of ebay or other sources will show. The FM version is a 3/4 facing design with the US Mint design just like the die - in profile.
Many of the US Mint dies were used to strike various combinations of 1982 Panama struck over US Coins - IMHO this was done outside the US Mint.
Please don't be so decisive in statements without doing the research first.

Just a bit of cognitive dissonance there…

Regardless, I am still unconvinced that it is a US Mint die. Their dies, at any US Mint facility, just don’t look like that. Not then and not now. I can see that the Franklin Mint issue that was produced in 1982 has a different design. But the problem with your explanation is that the die in the photos is a proof die, and it appears that the US Mint didn’t strike this design in proof in 1982.

So, you have a proof die for a design that the US Mint only struck as a business strike.

After doing a little more digging, this might be a die for one of the Piefort trial strikes that was NOT struck by the US Mint. That is the most likely scenario, in my opinion. I’m not a Panamanian coin expert, but I do know the Mint didn’t produce dies like this one, even based on the photo that doesn’t show the die in full.

Well your issue is a failure of logic systems: "Houston, we have a problem". If you do not know and are working off of impressions from a background lacking in direct experience, then I am not sure what foundation you have. Just because you or others may be unaware of proof coins from the US mint of this denomination does not invalidate this die as such. Bewildering, so you Sir have shown to be missing the quality of cognition as well.
In fact the gold 0.400 pieces have NEVER been condemned as NOT coming from US mint dies, only that they were not struck AT the US Mint. That is fact as they say.
In fact look carefully if you choose and the design elements DO follow the US coin issues which DID include 1982 coins. Also please note the US mint DID produce proofs of Panamanian coins (ie "off year" 1953 and 1962 coins of all denominations and some off-metal strikes; not to mention the 1966-74 US Mint proofs or "regular years") so this does have precedent even though this is but supportive evidence.
What can be DEDUCED is that this is an obverse die and therefore no date included, so it can legitimately be questioned as to the date. I have seen other dies of differing denominations of this year and this die appears quite similar. BTW, please share your evidence as to why dies for Panama from this issue have been excluded by you who has admitted a lack of knowledge to not be of US mint origin.

Regardless, I have shared Panamanian coin and die examples to follow the OP (and may add more), and anxiously await your contributions.

1630Boston · January 31, 2024 5:43AM

@7Jaguars said:

I have shared Panamanian coin and die examples to follow the OP (and may add more),

I'd like to see more,

Mr Lindy · January 31, 2024 5:54AM

You are obviously a Panama coinage expert with your thought provoking examples in hand and I look forward to your upcoming posts. I will access my related items and post something else too.

@7Jaguars said:

@GoldenEgg said:

@7Jaguars said:
In fact that is a US mint die, as the FM designs are decidedly different and a ready perusal of ebay or other sources will show. The FM version is a 3/4 facing design with the US Mint design just like the die - in profile.
Many of the US Mint dies were used to strike various combinations of 1982 Panama struck over US Coins - IMHO this was done outside the US Mint.
Please don't be so decisive in statements without doing the research first.

Just a bit of cognitive dissonance there…

Regardless, I am still unconvinced that it is a US Mint die. Their dies, at any US Mint facility, just don’t look like that. Not then and not now. I can see that the Franklin Mint issue that was produced in 1982 has a different design. But the problem with your explanation is that the die in the photos is a proof die, and it appears that the US Mint didn’t strike this design in proof in 1982.

So, you have a proof die for a design that the US Mint only struck as a business strike.

After doing a little more digging, this might be a die for one of the Piefort trial strikes that was NOT struck by the US Mint. That is the most likely scenario, in my opinion. I’m not a Panamanian coin expert, but I do know the Mint didn’t produce dies like this one, even based on the photo that doesn’t show the die in full.

Well your issue is a failure of logic systems: "Houston, we have a problem". If you do not know and are working off of impressions from a background lacking in direct experience, then I am not sure what foundation you have. Just because you or others may be unaware of proof coins from the US mint of this denomination does not invalidate this die as such. Bewildering, so you Sir have shown to be missing the quality of cognition as well.
In fact the gold 0.400 pieces have NEVER been condemned as NOT coming from US mint dies. That is fact as they say.
In fact look carefully if you choose and the design elements DO follow the US coin issues which DID include 1982 coins. Also please note the US mint DID produce proofs of Panamanian coins (ie 1953 and 1962 coins of all denominations and some off-metal strikes) so this does have precedent even though this is but supportive evidence.
What can be DEDUCED is that this is an obverse die and therefore no date included, so it can legitimately be questioned as to the date. I have seen other dies of differing denominations of this year and this die appears quite similar. BTW, please share your evidence as to why dies for Panama from this issue have been excluded by you who has admitted a lack of knowledge to not be of US mint origin.

Regardless, I have shared Panamanian coin and die examples to follow the OP (and may add more), and anxiously await your contributions.

7Jaguars · January 31, 2024 6:28AM

I do have some more material which I will share, though confess to liking the FM issues & especially as related to "currency" coins. Interestingly, I have seen a couple of dies that look as though there is gold residual in the devices and perhaps were used to strike the gold coins - it would be interesting to test this via XRF or other diagnostics.
In any case, will stick to the US mint and related as per the OP.

1630Boston · January 31, 2024 7:09AM

President Theodore Roosevelt sits in the cab of a crane during a visit to the canal construction site. 1906.

Mr Lindy · January 31, 2024 8:28AM

US Mint made for foreign market coinage pages featuring Panama 1931-1979:

Back in 1997 I was buying S Mint produced Panama proofs which I cut out of the cello and put in 2x2. Cameos exist but are tough to locate. US made 1966 thru 1974 proof sets are easy to source with little effort. They usually sell based on silver scrap. The Silver Dollar and 40% Silver Half have melt value. The longer these sit in their OGP cello and envelopes, their condition suffers. Their holders are like 1965 SMS flat pack sets and each includes total mintages of the set printed on an interior card

GoldenEgg · January 31, 2024 11:26AM

@7Jaguars said:

@GoldenEgg said:

@7Jaguars said:
In fact that is a US mint die, as the FM designs are decidedly different and a ready perusal of ebay or other sources will show. The FM version is a 3/4 facing design with the US Mint design just like the die - in profile.
Many of the US Mint dies were used to strike various combinations of 1982 Panama struck over US Coins - IMHO this was done outside the US Mint.
Please don't be so decisive in statements without doing the research first.

Just a bit of cognitive dissonance there…

Regardless, I am still unconvinced that it is a US Mint die. Their dies, at any US Mint facility, just don’t look like that. Not then and not now. I can see that the Franklin Mint issue that was produced in 1982 has a different design. But the problem with your explanation is that the die in the photos is a proof die, and it appears that the US Mint didn’t strike this design in proof in 1982.

So, you have a proof die for a design that the US Mint only struck as a business strike.

After doing a little more digging, this might be a die for one of the Piefort trial strikes that was NOT struck by the US Mint. That is the most likely scenario, in my opinion. I’m not a Panamanian coin expert, but I do know the Mint didn’t produce dies like this one, even based on the photo that doesn’t show the die in full.

Well your issue is a failure of logic systems: "Houston, we have a problem". If you do not know and are working off of impressions from a background lacking in direct experience, then I am not sure what foundation you have. Just because you or others may be unaware of proof coins from the US mint of this denomination does not invalidate this die as such. Bewildering, so you Sir have shown to be missing the quality of cognition as well.
In fact the gold 0.400 pieces have NEVER been condemned as NOT coming from US mint dies, only that they were not struck AT the US Mint. That is fact as they say.
In fact look carefully if you choose and the design elements DO follow the US coin issues which DID include 1982 coins. Also please note the US mint DID produce proofs of Panamanian coins (ie "off year" 1953 and 1962 coins of all denominations and some off-metal strikes; not to mention the 1966-74 US Mint proofs or "regular years") so this does have precedent even though this is but supportive evidence.
What can be DEDUCED is that this is an obverse die and therefore no date included, so it can legitimately be questioned as to the date. I have seen other dies of differing denominations of this year and this die appears quite similar. BTW, please share your evidence as to why dies for Panama from this issue have been excluded by you who has admitted a lack of knowledge to not be of US mint origin.

Regardless, I have shared Panamanian coin and die examples to follow the OP (and may add more), and anxiously await your contributions.

OK. I didn’t mean to ruffle your feathers. Some of your comments are uncalled for. We’re just discussing coins here. I only know US Mint dies, not Panamanian coinage. I own a few San Francisco Mint dies that were used to strike Panamanian coinage and many other Mint and private dies, older and newer. My bottom line point is: it doesn’t look like a US Mint die and does not reflect the typical quality seen. However, I am not understanding your post in full, so I will just defer to your experience.

Mr Lindy · January 31, 2024 11:46AM

Please post your Panama S Mint dies. Are they torched, ground or perfect ?

I missed out on Panama S Mint die offers over the years.

I own a few USA dies, just the 1995 1996 Olympics with an X cancel.

@GoldenEgg said:

OK. I didn’t mean to ruffle your feathers. Some of your comments are uncalled for. We’re just discussing coins here. I only know US Mint dies, not Panamanian coinage. I own a few San Francisco Mint dies that were used to strike Panamanian coinage and many other Mint and private dies, older and newer. My bottom line point is: it doesn’t look like a US Mint die and does not reflect the typical quality seen. However, I am not understanding your post in full, so I will just defer to your experience.

1630Boston · January 31, 2024 12:06PM

A man stands on the west bank overlooking the construction of the Pedro Miguel Locks. 1910.

oih82w8 · January 31, 2024 12:10PM

My wife and I are scheduled for a Panama Canal Eastward Cruise later this year. I may have to pick up some coinage for the trip.

7Jaguars · January 31, 2024 1:43PM

Wow! Really impressive pictures. Can you imagine the logistics of moving all that equipment down to a steamy tropical climate with heat out of this world and then pulling this off? Amazing!

1630Boston · January 31, 2024 2:31PM

The Miraflores lower locks under construction. 1912.

7Jaguars · February 3, 2024 12:12PM

US Mint Panama dies for 1982, hubs (I believe) for 1 cent. pictured first:

Companion to die showed earlier:

1/4 and 1/2 Balboa dies:

jfriedm56 · February 4, 2024 6:27AM

Acquired these balboas that were in a collection I purchased of U.S. coins.

Mr Lindy · February 4, 2024 7:17AM

I tried to message you, but I cannot seem to complete the send to recipient line. Keeps disappearing when I hit send.
If you care to, please try to message me.

I am interested in the Panama 1982 Medio Balboa die pair if you ever decide to rehome them. Thanks for sharing them on this thread. I have learned alot from your die collection and the hubs images. I had no clue these items were loose in the wild. Very Nice ! Lindy in Colorado

@7Jaguars said:

7Jaguars · February 4, 2024 10:40AM

See PMs...

oldabeintx · February 4, 2024 11:24AM

IF you start to feel smug about today's technology and what we've accomplished, go visit the Canal, better yet the pyramids.

1630Boston · February 5, 2024 5:16AM

One of the greatest barriers to a canal was the continental divide, which originally rose to 110 meters (360.9 ft) above sea level at its highest point. The effort to cut through this barrier of rock was one of the greatest challenges faced by the project.

1630Boston · February 5, 2024 5:16AM

@7Jaguars
What a great collection of dies
boston

Kurisu · February 5, 2024 6:16AM

Fun useless fact: These have showed up a handful of times for me in quarter rolls over the years.
They are the exact same size as a US quarter.
This one was actually an ender.

7Jaguars · February 5, 2024 8:23PM

I know where you can get some more of those, or maybe not!

Mr Lindy · February 6, 2024 10:34AM

Two more 1966 Medio Balboa errors, neither one attracts to a magnet.

Off metals struck on wrong denomination USA planchets "struck at RCM in Canada" instead of San Francisco USA Mint:

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

1966 on USA 10c planchet obv

1966 on USA 10c planchet rev

1966 on USA 5c planchet obv

1966 on USA 5c planchet rev

@7Jaguars said:
US Mint Panama dies for 1982, hubs (I believe) for 1 cent. pictured first:

Companion to die showed earlier:

1/4 and 1/2 Balboa dies:

carabonnair · February 6, 2024 11:49PM

1953, but I think they were from the Mexico City mint that year.

BLUEJAYWAY · February 7, 2024 12:24AM

@Kurisu said:
Fun useless fact: These have showed up a handful of times for me in quarter rolls over the years.
They are the exact same size as a US quarter.
This one was actually an ender.

Few years ago I received one in a roll as well.

Morgan13 · February 7, 2024 6:14AM

They don't build them like that anymore.
In Boston we had the big dig. Well guess what traffic is worse than ever.
I cannot imagine what it would cost to build the canal today but it's a good thing it was built when it was.
Great history lesson.
Thank you

BustDMs · February 7, 2024 10:35AM

Not made in the USA

Not made in Panama

Found in Panama.

A 4 and 8 Reale from the Panama hoard.

US Minted Panamanian Coinage & How The Panama Canal Was Constructed

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