Owner Comments:
"A coalition of Panamanian leaders declared independence from the nation of Colombia in November 1903. The United States, which had tried and failed to conclude a treaty with Colombia to construct and maintain a canal across the Isthmus of Panama, unscrupulously encouraged and supported the Panamanian independence movement. As illustrated by the New York World political cartoon below, U.S. President Theodore Roosevelt went so far as to order a detachment of U.S. gunboats to Panama to protect the revolutionaries from Colombian military forces. Shortly after Panama secured its independence, the U.S. and Panama signed the Hay-Bunau-Varilla Treaty. According to this treaty, Panama granted the U.S. the right to build and operate an inter-ocean canal and also gave the U.S. de facto sovereignty over a ten mile-wide territory around the canal in perpetuity — in effect creating a U.S. colony in Panama. In return, the U.S. paid Panama an up-front sum of $10 million and promised annual payments of $250,000."
https://ageofrevolutions.com/2016/03/24/balancing-independence-and-imperialism-the-panamanian-revolution-of-1903/
Mintage of 100,000, a silver 2.5 gram coin.
NGC has graded 17 in MS64 like this one, and 26 higher
PCGS has graded 4 others in MS64 and 6 higher
The United States mint struck coins for Panama using U. S. dime blanks. The five centesimos is equal to a United States dime.
Recorded mintage: 100,000.
Specification: 2.5 g, .900 fine silver, .0723 troy oz ASW. About $2.00 melt value as of 2/15/2021
"REPUBLICA DE PANAMA | DIOS | LEY | LIBERTAD | BALBOA"
Balboa was a Spaniard, first European who crossed the Isthmus, reached the Pacific by land and discovered the Perlas Archipelago (1513). The 7 stars represent the 7 provinces of the country at that time (there are now 10).