File:Panama Sed21-1644.jpg

This specimen was lot 1644 in Sedwick Treasure Auction 21 (Winter Park, FL, May 2017), where it sold for $__. The catalog description^[1] noted,

"Panama (struck at the Philadelphia mint), copper-nickel 2-1/2 centésimos, 1918, encapsulated NGC MS 63, finest example known at NGC or PCGS, very rare, ex-Richard Stuart (stated inside slab). KM-7.2. According to Panamanian numismatic researcher Jorge Proctor, Panama's Law 62 of December 1, 1917, did specify authorization to strike 25,000 balboas’ worth of coins in 2-1/2 and 5 centésimos de Balboa (or what would be equivalent to one million 2-1/2 centésimos, if all were minted in that denomination; a mintage figure often reported with a footnote that all were melted in June 1918). But, according to mint records from Philadelphia, there is no evidence the coins were ever struck in such a quantity, or in fact at all. What is known is that only seven specimens are confirmed, of which this is the finest by far. NGC #4427875-002. Pedigreed to the Richard Stuart collection."