Truemag

Menu
  • What’s it Worth?
      • US Coin Values WorthU.S. Coin Values
      • 1943-copper-centU.S. Error Coin Values
      • Paper Money Values WorthU.S. Paper Money Values
      • Paper Money Error ValuesU. S. Paper Money Error Values
      • Philippines Coin Values WorthPhilippines Coin Values
    • Close
  • Sell Your Coins
    • Sell Your Coins
    • CoinSite Buyers FAQ
    • Truth in the Coin Shop
    • Should I get my coin collection appraised?
    • Close
  • Gold & Silver
    • U.S. Gold Coins
    • Bullion Gold/Silver
    • Territorial/Fractional Gold
    • Silver
    • U.S. Silver Coins: When They Ended and What They’re Worth
    • Morgan Silver Dollars
    • Close
  • U.S. Coins
    • U.S. Coins & Currency
      • U.S. Cents
      • U.S. Nickels
      • U.S. Dimes, Quarters & Half Dollars
      • U.S. Dollars
      • U.S. Gold Coins
      • Close
    • Exceptional U.S. Coins
    • U.S. Classic Commemoratives & Government Sets
    • History of U.S. Coins
      • The History of U.S. Coins
      • Commemoratives
      • Close
    • United States Paper Money
    • Close
  • World Coins
    • World Coins & Paper Money
    • World Coins – History
    • Selected World Coin Articles
        • North America
          • U.S. Coins & Currency
          • Exceptional U.S. Coins
          • Colonial America
          • Canada
          • Close
        • Europe
          • France
          • Great Britain
          • Spain/ Spanish Colonial/ Latin America
          • Italy/Vatican
          • Germany/Austria
          • Close
        • Australia
        • Asia/Middle East
        • Close
      • Close
    • Close
  • Coin Doc
    • Articles & Opinions
    • Ask the Coin Doc
    • Coin Doc’s Archives
    • Numismatically Speaking
    • General
    • Close
  • Exceptional Coins
    • Exceptional U.S. Coins
    • Close
  • Errors
  • Cleaning Coins
  • Fun Coin Q&A
  • FAQ
    • Frequently Asked Questions
    • Valuing Coins
    • Coin Grading
    • U.S. Gold Coins
    • United States Paper Money
    • Coins in General
    • Resources

1985 Panama “Medio Balboa”

Ryan G. writes: I have a 1985 “medio balboa” from Panama in proof condition. It is listed in the World Coins book as KM 89. The mintage is listed as “UNAUTHORIZED”. Do you know if this coin is rare because of that label?

All modern Panama proofs, up to 1984, were struck by the Franklin Mint, a private minting company. They had a lucrative business where the FM paid Panama a substantial fee, in the million dollar range, for the privilege of creating “collector” coins and marketing them to collectors. Those impressive, giant 20 Balboas are an FM product. Few of these contrived issues ever saw the country of Panama.

When President Noreiga was kicked out of Panama, arrested, and brought to the U.S. the private deals collapsed or were rescinded by Panama. The 1985 proofs made by FM, with FM’s dies, were no longer sanctioned by the government of Panama so they are technically an “unauthorized” striking. I’m not sure too many people care. Contrived, unofficial issues, don’t often become valuable and tend to trade somewhere around their bullion value.


Historically, the United States Mint struck all regular issue coins for Panama. Noreiga, furious at the U.S., demanded the Panama dies from the Philadelphia Mint. They were handed over to his representative but somehow never made it back to Panama. (That is a very long and sordid story…). Not too long after the disappearance of the dies, coins such as the one, 5 and 10 centavos were suddenly being offered as “patterns”, struck in low content gold (about 10 carats fine). The soap opera continues…..

See: Franklin Mint coins & medals

Dec 25, 2013coindoc
What does proof mean and how do I know if my coin is a proof?1882 Newfoundland dime
You Might Also Like
 
Reales of Colonial Mexico
 
1807 Colonial Mexico Portrait 8 Reales
coindoc
7 years ago World Coins & CurrencySpain/ Spanish Colonial/ Latin America0
The Coindoc's MOST POPULAR
  1. U.S. Silver Coins: When They Ended and What They’re Worth
  2. U.S. Coin Values
  3. How much do the cent, nickel & quarter each weigh?
  4. When did Canada stop minting coins in silver?
  5. Where is the mint mark on a Buffalo nickel?
  6. U.S. Error Coin Values
  7. United States $20 Gold Pieces
  8. U.S. Paper Money Values
  9. Is there any history or special meaning behind Lincoln facing right on the cent?
Menu
  • U.S. Coin Values
  • Sell Coins
  • U.S. Coin History
  • Exceptional Coins
  • FAQ
  • About Us
  • Contact
  • Privacy

 

2020 © CoinSite