1167

PANAMA, struck at the Philadelphia Mint, copper-nickel 2½ centésimos, 1918, very rare, NGC MS 63 (Ri

Currency:USD Category:Coins & Paper Money / World Coins By Country Start Price:16,000.00 USD Estimated At:20,000.00 - 40,000.00 USD
PANAMA, struck at the Philadelphia Mint, copper-nickel 2½ centésimos, 1918, very rare, NGC MS 63 (Ri
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PANAMA, struck at the Philadelphia Mint, copper-nickel 2½ centésimos, 1918, very rare, NGC MS 63 (Richard Stuart Collection Label), finest known. KM-7.2. Choice auburn color with very few faint bagmarks, the finest by far (next grade at NGC being AU 58) of just seven confirmed examples, listed in KM as "unauthorized issue." According to Panamanian numismatic researcher Jorge Proctor, Panama's Law 62 of December 1, 1917, specified authorization to strike 25,000 balboas’ worth of coins in 2½ and 5 centésimos de balboa, and if all were 2½ centésimos, then it would have been one million struck, a mintage figure often reported with a footnote that all were melted in June 1918 (as in KM). However, according to actual mint records from Philadelphia, there is no evidence the coins were ever struck in such a quantity, or in fact at all beyond a handful of sample specimens like this one. Pedigreed to the Richard Stuart Collection.
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