Coins of Panama
Monedas de Panamá
Below is a list of catalogs
based on denomination, for some of the coins issued by Panama. More are in the process
of being added.
Summary
The Republic of Panama gained its independence in November of 1903. The first
official coins of the new republic were issued with the date of 1904, although
the coins were not placed in circulation until 1905. Panama chose to honor
Vasco Nuńez de Balboa, the Spanish conquistador who was the first European
to discover the Pacific Ocean, by naming their money after him. One Balboa is
equal to 100 centésimos. Panama's circulation dimes, quarters and halves have consistently
featured a portrait of Balboa. The circulation pennies have consistently featured
the Indian chief Urraca, admired for his resistance against the Spaniards during
the conquest of Panama.
The exchange rate to American dollars is one to one. With one
interesting but minor exception, Panama has not issued any paper money and uses American
dollar bills. American coins also circulate freely side by side with their Panamanian
counterparts. Since 1929, Panamanian circulation coins have been designed to match the
size, shape and metal content of American coins.
Special Announcement!
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Do you own any rare Panama coins? Do you own an example of the 1918 Dos Y Medio
Centésimos, early proof coins from before 1966, or other Panama coin with less a mintage
under 50? If so, please contact me via
.
As a community service, in partnership with some other Panama collectors, I am trying
to take a census of these rare Panama coins. For instance, we would like to determine
whether the population of 1918 Dos Y Medio Centésimos coins is truly seven or a few more,
etc. Your information would be considered confidential and only shared with others
as you permit. Thank you!
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Numbering System
Although Panama's coins can be divided several different ways, I have organized them
in this catalog by denomination. Even when a denomination is written different I
have grouped them together (for example, 25 centésimos coins are grouped with 1/4
Balboa coins).
All the Panama Coins have been designated with the letters "PC",
and grouped by denomination and then by type or variety. Numbers start at PC-005.1
for the half centésimo coin, progress through PC-01.n for the one centésimo coin through
PC-100.n for the one Balboa coins. Larger denominations incorporate a lowercase b for Balboa.
The number with the "b" start at PC-5b.n for the 5 Balboa coins and progress through
PC-500b.n for the 500 Balboa coins, with one exception. PC-20b.n is used for the silver
20 Balboa coins and PC-21b.n is used for the gold 20 Balboa coins.
Permission is hereby granted to anyone to use the numbers below in referring to these coins,
in print or electronic media. I would appreciate it if you would acknowledge my contribution
by calling them Plowman's numbers at least once, or referencing www.coins-of-panama.com.
I reserve the right to assign all new numbers. Please contact me via
when a new number is needed.
Determining Obverse versus Reverse
A major catalog of world coins uses rules of thumb such as the location of the name of the
country to
determine the obverse and reverse of coins from around the world. They cover so many countries
and coins, that it would be time consuming for them to consult country experts to determine the
correct placement. In the case of Panama, their rules of thumb fail to determine the
sides correctly most of the time. In this catalog I will use the correct orientations.
How do I know the correct orientations? I lived in Panama, and know what the people of
Panama consider to be the obverse and reverse sides of their coins. One easy method
for collectors is to look at the proof and uncirculated sets. The obverse side is the side
which is face up when you open the case. In general, the side with a portrait of Balboa,
Urraca or another person is the obverse, and the coat of arms is the reverse.
Click on the coin image or denomination name below to go to the catalog page for
that denomination.
| Coin Image | Catalog Name |
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Medio Centésimo Catalog. Medio Centésimo de Balboa (half cent, half centésimo) coins
were only issued in 1907. The design featured the plumed hat portrait of Balboa on the obverse
and the denomination on the reverse. At 16mm in diameter, this is Panama's second smallest
coin type.
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Un Centésimo Catalog. Un Centésimo (one cent, one centésimo, one penny, un centavo)
coins were first issued in 1935, and continue through the present. The design
consistently features a portrait of the Indian chief Urraca.
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Uno y Cuarto Centésimos Catalog. Uno y Cuarto Centésimos (1¼ cents,
quartillo, 1¼ centésimos) coins were only issued in 1940. This unusual denomination was
issued near the end of the worldwide 1930's Great Depression and was intended for the very poor.
The design featured a portrait of Balboa on the obverse
and the denomination on the reverse.
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Dos y Medio Centésimos Catalog. Dos y Medio Centésimos de Balboa (2½ cents,
2½ centésimos, Panama "Pill") coins were issued from 1904 through 1984. The first type of
this denomination was the famous Panama "pill", so-called because of the size and shape.
This is the smallest coin Panama has issued, and the denomination that has been issued in the
most different formats.
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Cinco Centésimos Catalog. Cinco Centésimos de Balboa (5 cents, 5 centésimos, un real, nickel)
coins have been issued since 1905 (dated 1904).
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Diez Centésimos Catalog. Diez Centésimos de Balboa (Un Decimo de Balboa, 10 cents, 10 centésimos,
dime) coins have been issued since 1905 (dated 1904). The design has consistently featured a
portrait of Balboa on the obverse and the national coat of arms on the reverse.
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Vienticinco Centésimos Catalog. Vienticinco Centésimos de Balboa (Un Cuarto de Balboa, 25 cents,
25 centésimos, quarter) coins have been issued since 1905 (dated 1904). The design has
consistently featured a portrait of Balboa on the obverse and the national coat of arms on
the reverse.
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Cincuenta Centésimos Catalog. Cincuenta Centésimos de Balboa (Medio Balboa, 50 cents,
50 centésimos, peso, half-dollar) coins have been issued since 1905 (dated 1904). The design has
consistently featured a portrait of Balboa on the obverse and the national coat of arms on
the reverse.
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Un Balboa Catalog. Un Balboa (100 cents, 100 centésimos, dollar) coins have been
issued since 1931. The design has varied over time and includes commemorative designs
which were used in circulation.
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5 Balboas Catalog. 5 Balboas (5 dollars) coins have been
issued on occasion since 1970. All of them were intended to be non-circulation
issues made for collectors, but at least one variety ended up seeing circulation.
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10 Balboas Catalog. 10 Balboas (10 dollars) coins have been
issued on occasion since 1978. All of them were intended to be non-circulation
issues made for collectors, but at least one variety ended up seeing circulation.
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20 Balboas Silver Catalog. 20 Balboas (20 dollars) coins were
issued in silver between 1971 and 1985. All of them were intended to be non-circulation
issues made for collectors. When first issued, they were the largest coins in the world,
which was the intent of the promoters involved.
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20 Balboas Gold Catalog. Viente Balboas (20 Balboas, 20 dollars) coins were
issued in gold between 1980 and 1985. All of them were intended to be non-circulation
issues made for collectors, and very few were made. The obverse design was changed each year.
Featured designs were a butterfly, two different birds, fish and a puma.
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50 Balboas Catalog. 50 Balboas (50 dollars) coins were
issued in gold between 1980 and 1985. All of them were intended to be non-circulation
issues made for collectors. A different Christmas design was used each year.
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75 Balboas Catalog. 75 Balboas (75 dollars) coins were
issued in gold only in 1978. This unusual denomination was issued in honor of the 75th anniversary
of Panama's independence from Colombia. This coin was a non-circulation
issue made for collectors.
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100 Balboas Catalog. 100 Balboas (100 dollars) coins were
issued in gold starting in 1975. All of them have been intended to be non-circulation
issues made for collectors.
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150 Balboas Catalog. 150 Balboas (150 dollars) coins were
issued in 1976 and 1980 in platinum and gold respectively. This unusual denomination was
issued in honor of two different 150th anniversaries.
Both varieties were intended to be
non-circulation issues made for collectors.
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200 Balboas Catalog. 200 Balboas (200 dollars) coins were
issued in 1979 and 1980 in platinum.
Both varieties were intended to be
non-circulation issues made for collectors.
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500 Balboas Catalog. 500 Balboas (500 dollars) coins were
issued from 1975 to 1985 in gold.
All of them have been intended to be non-circulation
issues made for collectors.
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