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The Panama 1/10 balboa coin from 1974, cataloged as KM#10 and graded as Proof (PF), is a captivating piece of numismatic history that offers a glimpse into Panama's past and its enduring connection to the United States. Struck over four decades ago, this silver coin combines historical significance with meticulous design and craftsmanship.
To appreciate this coin fully, it's essential to understand its historical context. In the early 20th century, Panama was part of Colombia, but growing tensions and the strategic importance of the Panama Canal led to a significant turning point. In 1903, with support from the United States, Panama declared its independence from Colombia, and shortly thereafter, the Panama Canal Zone was established under American control. This coin was minted during a period of transition and reflects Panama's growing autonomy and strong ties with the United States.
The design of the Panama 1/10 balboa coin is symbolic of the nation's identity and its historical significance. On the obverse (front) side of the coin, you'll find a prominent image of Vasco Núñez de Balboa, a Spanish explorer who was the first European to reach the Pacific Ocean from the New World in 1513. This achievement marked a pivotal moment in the exploration of the Americas. The words "REPUBLICA DE PANAMA" and "UN DECIMO DE BALBOA" encircle the central design, emphasizing Panama's status as a sovereign nation and the denomination of the coin. Turning to the reverse (back) of the coin, you'll discover the coin's denomination, "1/10," and the year of mintage, "1974," encircled by an elegant decorative border. The reverse design is relatively straightforward, emphasizing the coin's practical use in everyday transactions.
In terms of its physical attributes, the Panama 1/10 balboa coin is relatively small, with a diameter of approximately 17 millimeters. It typically weighs around 1.7 to 1.8 grams, making it a convenient denomination for everyday commerce.
The coin is primarily composed of silver, a precious metal renowned for its beauty and historical value. These proof coins are crafted from 90% silver, making them highly sought after by collectors who appreciate both the historical importance and intrinsic value of silver coins. The remaining 10% consists of copper, which enhances the coin's durability and resistance to wear.
Proof coins are known for their exceptional quality and finish, featuring mirror-like fields and deeply frosted devices. These coins are struck with special dies and polished planchets to create a flawless appearance. The Panama 1/10 balboa coin from 1974, graded as Proof (PF), is a testament to the precision and craftsmanship of the minting process.
These proof coins were minted in the United States, specifically at the Philadelphia Mint, a renowned institution celebrated for its precision and craftsmanship in producing coins for various countries, including those in the Panama Canal Zone. Proof coins typically have lower mintages compared to circulation coins, adding to their collectible appeal.
An interesting fact about Panama is its strategic geographical location, with the Panama Canal serving as one of the world's most vital waterways. It connects the Atlantic and Pacific Oceans, facilitating global trade and significantly reducing maritime travel times for vessels. This remarkable engineering feat has made Panama a focal point of international commerce, highlighting its importance on the world stage.
In conclusion, the Panama 1/10 balboa coin from 1974, graded as Proof (PF), serves as a poignant representation of Panama's history, identity, and its enduring ties to the United States. Its intricate design, practical specifications, and impeccable proof quality make it a cherished collectible, not only for numismatists but also as a tangible reminder of Panama's status as a sovereign nation and its pivotal role in global trade through the Panama Canal.