Panama 1940 2-1/2 centesimos
This specimen was lot 71427 in Stack's Bowers Collector's Choice sale (Costa Mesa, CA, May 2023), where it sold for $7,800. The catalog description[1] noted, "PANAMA. 2-1/2 Centavos, 1940. Philadelphia Mint. NGC MS-68. A beautiful example that is tied for the finest certified, this specimen delivers a glowing and gorgeous eye appeal, with much exciting charm throughout." The year 1904 inaugurated coinage for the newly independent Panamanian 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. This type was struck in only in 1940 along with a bronze 1¼ centesimos (KM 15). No further coinage was struck until 1947. We don't know why this example realized over two hundred times the catalog value.
Recorded mintage: 1,200,000.
Specification: copper-nickel, 18 mm diameter.
Catalog reference: KM-16.
- Altz, Charles G., and E. H. Barton, Foreign Coins Struck at United States Mints, Racine, WI: Whitman Publishing, 1965.
- Harris, Robert P., A Guide Book of Modern Latin American Coins, Racine, WI: Whitman Publishiing Co., 1966.
- Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1901-2000, 47th ed., Iola, WI: Krause Publications, 2019.
- Raymond, Wayte, The Coins of Central America, Silver and Copper, 1824-1940, New York: Wayte Raymond Inc., 1941.
- Robinson, Charles, The Coins of Central America, 1733-1965, San Benito, TX: 1965.
- Stickney, Brian, A Monetary History of Central America, New York: American Numismatic Society, 2017.
- [1]Orsini, Matt, Kyle Ponterio and Jeremy Bostwick, May 2023 World Collectors Choice Online Auction, Featuring the Richard Elliott Collection of Hooknecks, Costa Mesa, CA: Stack's Bowers Galleries, Inc., 2023.
Link to: