Panama 1904 50 centesimos

from the Mountain Groan Collection

This specimen, 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. For years, few Panamanian coins sold 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. The 2½ centesimos is known as the "Panama pill."

Recorded mintage: 1,800,000.

Specification: 25 g, 0.900 fine silver, .723 troy oz ASW.

Catalog reference: KM 5.

Source:

• Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1901-2000, 47th ed., Iola, WI: Krause Publications, 2019.

Links to:

• 1904 2½ centésimos
• 1904 5 centésimos
• 1904 10 centésimos
• 1905 50 centésimos
• 1931 ¼ balboa
• 1947 balboa
• Coins and currency dated 1904
• return to coins of Panama