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The Panama 10 centesimos coin from 1904, cataloged as KM#3 and graded as Fine (F), is a fascinating piece of numismatic history that provides valuable insights into Panama's past. Minted more than a century ago, this silver coin not only boasts historical significance but also showcases remarkable design and craftsmanship.
To fully appreciate this coin, it is essential to delve into its historical context. In the early 20th century, Panama was part of the Republic of Colombia. However, growing tensions and the desire for independence led to a momentous event in 1903 when Panama declared its autonomy with the support of the United States, resulting in the creation of the independent nation of Panama. This coin was struck during the transitional period between Panama's declaration of independence and the establishment of its own currency system.
The design of the Panama 10 centesimos coin reflects the nation's newfound independence and its ties to the United States. On the obverse (front) side of the coin, a striking image of a liberty cap and laurel wreath is featured, symbolizing freedom and victory. The words "REPUBLICA DE PANAMA" encircle the central design, proudly proclaiming the nation's identity. Turning to the reverse (back) of the coin, a magnificent depiction of the Panama Canal Zone and the American battleship USS Missouri graces the surface. The canal, a monumental engineering achievement, was instrumental in connecting the Atlantic and Pacific Oceans, revolutionizing global trade routes. The presence of the USS Missouri, a prominent American naval vessel, reflects the significant role the United States played in Panama's independence and the subsequent construction and control of the Panama Canal.
In terms of its physical attributes, the Panama 10 centesimos coin is relatively small, with a diameter of approximately 17 millimeters. Its weight, owing to its silver composition, typically ranges from 1.5 to 1.8 grams. The coin's silver content underscores its historical value and adds to its allure as a collectible.
Speaking of purity, this coin is crafted from 90% silver, making it highly desirable among numismatists who appreciate the precious metal's intrinsic value and historical importance. The remaining 10% consists of copper, which adds durability and resistance to wear.
The coin was minted in the United States, specifically at the Philadelphia Mint, a renowned institution responsible for producing coins for various countries, including those in the Panama Canal Zone. The mintage, or the number of coins produced in a specific year, can vary. In the case of the 1904 Panama 10 centesimos coin, mintage numbers were relatively modest, contributing to its collectible status and potential rarity.
When evaluating the condition of this coin, collectors often rely on the Sheldon Coin Grading Scale, which ranges from "Poor" to "Mint State." A coin in Fine (F) condition suggests that it exhibits moderate wear but still retains a good amount of its original detail, which is indicative of circulation over time. This wear, however, adds character and historical charm to the coin.
An interesting fact about Panama is its unique geographical location, with the Panama Canal serving as one of the world's most vital waterways. The canal connects the Atlantic and Pacific Oceans, facilitating global trade and fostering international cooperation. It continues to play a crucial role in shaping global commerce and maritime transportation.
In conclusion, the Panama 10 centesimos coin from 1904 is a remarkable testament to Panama's history, its struggle for independence, and its significant connection to the United States and the Panama Canal. Its elegant design, modest size, silver composition, and historical context make it a cherished collectible for numismatists and a tangible link to Panama's rich heritage. Whether admired for its aesthetic qualities, historical importance, or intrinsic silver value, this coin holds a special place in the realm of numismatics and offers a compelling window into the past of Panama.