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FK-100.1 (1934 Balboa Counterfeit)

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Counterfeit Coin
Picture of a FK-100.1
Scale: 8 pixels equals one millimeter

Obverse Design Almost identical to a legitimate 1934 Un Balboa. The legend along the top says "UN BALBOA" with a diamond-shaped divider on either side of the legend and between the two words. "UN BALBOA" means "ONE BALBOA", and "BALBOA" is the name of Panama's currency. The bust of Vasco Nunez de Balboa, the Spanish explorer who settled in Panama and discovered the Pacific Ocean. Balboa is wearing a marion helmet and corselet armour. To the right and left of Balboa are partial wreaths of oak leaves on one side and laurel leaves on the other. This obverse design was created and sculptured originally by William Clark Noble of Newport, Rhode Island.
Reverse Design Almost identical to a legitimate 1934 Un Balboa. The central figure is a woman who is an allegorical representation of liberty and youth. In her left arm is a fasces, which is an axe enclosed in a bundle of rods. This is an ancient Roman symbol of power and was used on the United States Mercury dimes. She is holding an oak branch and the top of a shield in her right hand. The shield has Panama's coat of arms. Panama's coat of arms is divided into two cantons at the top, two cantons at the bottom and a double wide canton in the center. The upper left canton is a crossed rifle and sword. It originally meant "Good bye forever to civil wars, cause of our ruin". In 1914 the meaning was changed to "Attitude of alertness in defense of our sovereignty." The upper right is a crossed hoe and shovel refering to the labor required to build the republic. The lower left is a cornucopia horn of plenty symbolizing richness and agriculture. The lower right has a wheel with wings symbolizing the speed of progress. The center canton shows land (the isthmus of Panama) between two oceans (the Atlantic and Pacific) with a sea level canal between the oceans. The sun is setting on the mountains in the west and the moon is rising over the waves in the east. This represents the solemn hour of Panama's declaration of independence from Columbia in 1903. A banner is draped over the shield with the latin motto "PRO MUNDI BENEFICIO" meaning "FOR THE BENEFIT OF THE WORLD" refering to the Panama Canal. Along the upper edge the legend "REPUBLICA" ("REPUBLIC") appears to the left of the woman as we view the coin and "DE PANAMA" ("OF PANAMA") appears to the right. Between the "DE PANAMA" and the woman are the legends "LEY 0.900" and "GR. 26.73". "LEY" means "LAW" and the legend means that the coin is .900 pure silver by law. "GR." is an abbreviation for grams, and the legend means that the coin contains 26.73 grams of silver. Of course, this counterfeit is probably lead. The date (1934) appears to the left of the woman's feet as we view the coin. The reverse was originally designed by a well-known Panamanian artist Roberto Lewis.
Metal Appears to be lead with a thin top layer of silver. Size and Shape Round, 38 mm in diameter (1½ inches).
Rarity Scarce. I've noticed two for sale on ebay within 18 months.
Source Plowman Collection, purchase from a Canadian seller.
Discussion

This counterfeit is pretty close to the original. Upon examination, there are several differences. The easiest distinction to spot is the distance between the edge of the coins and the lettering. The design on the counterfeit is a little smaller than the original, so the spacing between the edge and the design is wrong. Other factors are that the toning on the coin is not the normal colors, and wear reveals a bluish metal instead of white. The details on the marion helmet on the obverse are more prominent and less delicate than the Noble design and look more like the 1953 Mexico City Mint design.

The origin of these counterfeits may be Asia, perhaps Hong Kong or China. One of the sellers of these counterfeits was from China and claimed to be selling coins acquired locally.

I would appreciate e-mail from anyone who can add anything to this information.


Images of the Reverse
The Coin on the Right is Genuine

Picture of counterfeit 1934 Un Balboa Picture of genuine 1934 Un Balboa
Scale: 8 pixels equals one millimeter