Military Tokens Catalog (MT)

Catálogo de Fichas Militares


Below is a catalog or list of all known military tokens relating to the Canal Zone. There are no known military tokens associated with the rest of Panama. While this catalog is complete to the best of my knowledge, many tokens lack an image or illustration. If you have an image or can make a rubbing of a token for which I do not have an image, please me. Likewise, please e-mail me if you know of any military token or variety which is not listed in this catalog.

NOTE: At the end of the last catalog page is a short list of military tokens originally attributed to the Panama Canal Zone, but which attribution has since been corrected.

Summary

Military tokens are coins issued for as money substitutes for use by members of a military entity. Many military tokens were issued to pay for meals in a cafeteria (or mess hall) setting, or to purchase items at a post exchange (similar to a general store). The tokens might be used to extend credit, as gift certificates, as a mean of giving a discount or to assure sufficent small change.

Collecting Military Tokens

Collecting these military tokens of the Canal Zone is not for the "faint of heart" or those with a minimal budget. The largest mintage known is in the low thousands, and of those minted many did not make it into collectors' hands. So tokens tend to be far and few between, and command high prices when they are found. There are a few common tokens such as the Fort Kobbe Brass holed Dollar, the France Field 5 Cents and the Corozal 5 Cents. However most Canal Zone military tokens are scarce or rare. Of many types I was only able to count one or two specimens.

Rarity

Included in the catalog list below is a rarity code for (C) Common, (S) Scarce, (R) Rare and (RR) Very Rare. In parenthesis is the population count of specimens I have made based on the number of catalogs who listed the token, the sales Henkle recorded from price lists in the 1980's, recent ebay sales and some collections. I tried to avoid counting any specimen twice. The rarity code was determined based on the specimen count. Mintage is known for a few token types, which are included on the individual token pages.

Pricing

Pricing is based on several factors, which ultimately are supply and demand. How many specimens are available and how many collectors want them. With the military tokens, the supply is very low but frequently the demand is low as well. When a token which has not been seen for a while goes for sale in an auction, it frequently commands an immediate exorbitant price. However, when two or three more specimens come along, the price drops dramatically, and sometimes there are no takers. This make it hard to develop a price list for the catalog. The prices below are an attempt to develop a price that at least three collectors will be willing to pay for a piece. They are based on the population count and actual sales of the more common tokens. Rare token prices are estimates based on historical pricing, whether the token has a Canal Zone name location on it, whether it is metal or plastic (plastic is less valued), and even raw guess work. For rare tokens, the first one seen in an auction may go for far more than the prices below. This catalog attempts to list the prices at which subsequent auctions may go for.

Numbering System

All the military tokens have been designated with the letters "MT", and grouped by issurer and then by type. Each group is given a unique number. Within each group, each piece is given a unique number based on its denomination in cents. An example would be MT5-5 for a 5 cent piece and MT5-100 for a one dollar piece. Permission is hereby granted to anyone to use the numbers below in referring to these tokens, in print or electronic media, by calling them Plowman's MTx-xx at least once, or referencing www.coins-of-panama.com. However, I reserve the right to assign all new numbers. Please contact me when a new number is needed.


Click on the image or catalog number below to go to the full listing for that piece.

Military Tokens Catalog
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Image # Description Rarity 2007 Catalog Value
Fine Very Fine Extra Fine
MT-5.05 4th Field Artillery Battery E. 5 Cents RR (1) $ 70.00 $ 95.00 $ 140.00
MT-10.05 4th Field Artillery Battery F. 5 cents RR (1) $ 70.00 $ 95.00 $ 140.00
MT-10.06 4th Field Artillery Battery F. 5 cents
ctsp. F
RR (1) $ 65.00 $ 90.00 $ 130.00
MT-15.05 Fifth Infantry Company L 5 cents RR (2) $ 70.00 $ 95.00 $ 140.00
MT-20.05 Tenth Inf. 5 cents RR (1) $ 70.00 $ 95.00 $ 140.00
MT-25.05 10th Inf. Co. B. 5 cents RR (2) $ 65.00 $ 90.00 $ 130.00
MT-25.10 10th Inf. Co. B. 10 cents RR (1) $ 70.00 $ 95.00 $ 140.00
MT-25.25 10th Inf. Co. B. 25 cents RR (2) $ 65.00 $ 90.00 $ 130.00
MT-25.50 10th Inf. Co. B. 50 cents RR (1) $ 150.00 $ 200.00 $ 300.00
MT-30.10 29th Infantry Company K 10 cents RR (1) $ 70.00 $ 95.00 $ 140.00
MT-35.05 AAIC 5 cents In Trade S (8) $ 37.00 $ 50.00 $ 75.00
MT-35.25 AAIC 25 cents In Trade R (4) $ 60.00 $ 80.00 $ 120.00
MT-35.100 AAIC 1 dollar In Trade R (3) $ 60.00 $ 80.00 $ 120.00
MT-35.500 AAIC 5 dollars In Trade R (3) $ 65.00 $ 90.00 $ 130.00
MT-36.05 AAIC 5 cents on obverse RR (1) $ 70.00 $ 95.00 $ 140.00
MT-36.10 AAIC 10 cents on obverse RR (1) $ 70.00 $ 95.00 $ 140.00
MT-36.25 AAIC 25 cents on obverse RR (1) $ 70.00 $ 95.00 $ 140.00
MT-40.25 AH 25 cents C (11) $ 10.00 $ 13.50 $ 20.00
MT-40.100 AH 1 dollar C (11) $ 15.00 $ 20.00 $ 30.00
MT-45.25 Albrook AFB 25 cents C (12) $ 25.00 $ 35.00 $ 50.00
MT-46.100 Albrook AFB 1 dollar dark blue C (11) $ 30.00 $ 40.00 $ 60.00
MT-47.100 Albrook AFB 1 dollar light blue S (8) $ 20.00 $ 27.00 $ 40.00
MT-50.05 Albrook Field N.C.O. Club 5 cents S (5) $ 60.00 $ 80.00 $ 120.00
MT-50.10 Albrook Field N.C.O. Club 10 cents RR (1) $ 80.00 $ 110.00 $ 160.00
MT-51.05 Albrook Field N.C.O. Club
with ornament 5 cents
R (3) $ 75.00 $ 100.00 $ 150.00
MT-52.05 Albrook Field The N.C.O. Club 5 cents RR (2) $ 75.00 $ 100.00 $ 150.00
MT-52.10 Albrook Field The N.C.O. Club 10 cents R (4) $ 70.00 $ 95.00 $ 140.00
MT-52.100 Albrook Field The N.C.O. Club 1 dollar RR (1) $ 90.00 $ 120.00 $ 180.00
MT-55.05 Camp Elliott 5 cents uniface RR (2) $ 80.00 $ 110.00 $ 160.00
MT-56.05 Camp Elliott I.C.Z. Panama 5
no cents sign
S (6) $ 75.00 $ 100.00 $ 150.00
MT-56.10 Camp Elliott I.C.Z. Panama 10
no cents sign
RR (2) $ 90.00 $ 120.00 $ 180.00
MT-56.25 Camp Elliott I.C.Z. Panama 25
no cents sign
RR (2) $ 100.00 $ 135.00 $ 200.00
MT-56.100 Camp Elliott aluminum 1 dollar RR (2) $ 100.00 $ 135.00 $ 200.00
MT-57.100 Camp Elliott brass 1 dollar S (9) $ 50.00 $ 70.00 $ 100.00
MT-58.05 Camp Elliott I.C.Z. Panama 5 cents RR (2) $ 75.00 $ 100.00 $ 150.00
MT-59.25 Camp Elliott I.C.Z. Panama 25 cents RR (2) $ 100.00 $ 135.00 $ 200.00
MT-60.1 Coco Solo Ship's Service Store 1 RR (1) $ 90.00 $ 120.00 $ 180.00
MT-60.2 Coco Solo Ship's Service Store 2 RR (1) $ 90.00 $ 120.00 $ 180.00
MT-60.4 Coco Solo Ship's Service Store 4 RR (2) $ 90.00 $ 120.00 $ 180.00
MT-65.05 Corozal NCO Club 5 cents C (26) $ 12.50 $ 16.50 $ 25.00
MT-65.10 Corozal NCO Club 10 cents C (18) $ 20.00 $ 27.00 $ 40.00
MT-65.25 Corozal NCO Club 25 cents S (8) $ 50.00 $ 70.00 $ 100.00
MT-65.50 Corozal NCO Club 50 cents C (10) $ 50.00 $ 70.00 $ 100.00
MT-65.100 Corozal NCO Club 1 dollar R (2) $ 75.00 $ 100.00 $ 150.00
MT-66.05 Corozal Post Exchange 5 cents RR (1) $ 80.00 $ 110.00 $ 160.00
MT-70.25 M.T. Co. 25 cents RR (1) $ 70.00 $ 95.00 $ 140.00
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