Panama 1982 balboa KM-76
The year 1904 inaugurated coinage for the newly independent Panamanian republic. In the original system, one balboa = 2 U.S. dollars, and 2½, 5, 25 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. This specimen was lot 1660 in Sedwick Treasure Auction 21 (Winter Park, FL, May 2017), where it sold for $646.25. The catalog description[1] noted, "Panama, proof copper-nickel clad copper 1 balboa, 1982, General Torrijos, rare with only the obverse frosted. Mirror fields (cameo on obverse) with minimal flaws and marks, starting to tone, from a mintage of only 50 pieces. Pedigreed to the Richard Stuart collection." This type was issued 1982-84 in honor of "Maximum Leader of the Panamanian Revolution" Omar Torrijos, killed in a plane crash in 1981. Dark rumors, still unproven, circulated that the CIA or Manuel Noriega, his successor, was involved.
Recorded mintage: 200,000 plus 250 proofs.
Specification: 22.68 g, copper-nickel, 38.1 mm diameter, this specimen 22.35 grams.
Catalog reference: KM-76.
- [1]Sedwick, Daniel F., Augi Garcia and Cori Sedwick Downing, Treasure Auction #21, featuring Selections from the Richard Stuart Collection, Winter Park, FL: Daniel Frank Sedwick, LLC, 2017.
- Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1901-2000, 47th ed., Iola, WI: Krause Publications, 2019.
- Stickney, Brian, A Monetary History of Central America, New York: American Numismatic Society, 2017.
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