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The Panama 1/4 balboa coin from 1968, cataloged as KM#11.2a and graded as Proof (PF), is a numismatic treasure that reflects Panama's history and cultural heritage. Minted over five decades ago, this coin not only holds historical significance but also showcases exquisite design and craftsmanship.
To fully appreciate the historical context of this coin, it's important to understand Panama's position in the late 1960s. During this period, Panama was experiencing significant political and social changes, and it was also a time when the Panama Canal was under U.S. administration. The canal, a key waterway connecting the Atlantic and Pacific Oceans, played a vital role in global trade and diplomacy.
The obverse (front) of the Panama 1/4 balboa coin features a captivating portrait of Vasco Núñez de Balboa, the Spanish explorer renowned for being the first European to witness the Pacific Ocean in 1513. Balboa's pioneering spirit and exploration across the Isthmus of Panama are commemorated on this coin. Below his portrait, the inscription "V. NUNEZ DE BALBOA" is elegantly engraved, paying tribute to the explorer's historical significance. Turning to the reverse (back) of the coin, Panama's national coat of arms is prominently displayed. The coat of arms consists of a shield divided into four quadrants. The upper-left quadrant contains a crossed sword and rifle, symbolizing Panama's commitment to defending its sovereignty and independence. The upper-right quadrant displays a crossed shovel and pickaxe, representing the construction and importance of the Panama Canal, a remarkable engineering feat. The lower-left quadrant features a ship sailing on the Pacific Ocean, while the lower-right quadrant depicts a ship on the Caribbean Sea, emphasizing Panama's strategic location as a bridge between two oceans.
A banner encircles the coat of arms, bearing the inscription "REPUBLICA DE PANAMÁ," underscoring Panama's identity as a sovereign republic. The coin's design serves as a testament to Panama's history and the critical role it played in international trade and diplomacy during the era when the canal was under U.S. control.
The Panama 1/4 balboa coin is relatively small, with a diameter of approximately 24.3 millimeters. It typically has a weight ranging from 5.83 to 6.25 grams. The coin's silver composition contributes to its intrinsic value and gives it a timeless luster that collectors find highly appealing.
Comprising 90% silver, this coin embodies the historical allure of precious metals and their enduring value. The remaining 10% consists of copper, enhancing the coin's durability and resistance to wear, ensuring its longevity and beauty.
These Proof coins were likely minted with exceptional care and precision, making them stand out in terms of sharp details and mirror-like surfaces. The mintage, or the number of coins produced in a specific year, for Proof coins is often limited, adding to their collectible appeal.
One intriguing fact about Panama is its unique geographical position as a bridge between continents and oceans. The Panama Canal, known as the "Crossroads of the World," has played a pivotal role in global trade by connecting the Atlantic and Pacific Oceans. It has significantly reduced travel distances and time for vessels, making it one of the most critical and strategic waterways worldwide.
In conclusion, the Panama 1/4 balboa coin from 1968, graded as Proof (PF), is not only a numismatic masterpiece but also a historical artifact that reflects Panama's rich heritage and its crucial role in global trade. Its exquisite design, compact size, silver composition, and Proof quality make it a cherished collectible for numismatists and history enthusiasts alike. Whether admired for its aesthetic beauty, historical significance, or intrinsic silver value, this coin stands as a tribute to Panama's enduring legacy and its vital place in the annals of international trade.