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The Panama 25 centesimo coin from 1904, cataloged as KM#4 and graded as Very Fine (VF), is a remarkable piece of numismatic history that offers a captivating glimpse into Panama's past. Struck more than a century ago, this silver coin not only holds historical significance but also showcases intricate design and craftsmanship.
To fully appreciate this coin, it is essential to delve into its historical context. At the turn of the 20th century, Panama was part of the Republic of Colombia. However, escalating tensions and the desire for independence culminated in a momentous event in 1903 when Panama declared its autonomy, with the backing of the United States, leading to the establishment of the independent nation of Panama. This coin was minted during the transitional period between Panama's declaration of independence and the introduction of its own currency system.
The design of the Panama 25 centesimo coin is emblematic of 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, representing classical symbols of freedom and victory. Encircling the central design, the words "REPUBLICA DE PANAMA" proudly proclaim the nation's identity. Turning to the reverse (back) of the coin, you'll find the denomination, "25," and the year of mintage, "1904," enclosed within an elegant decorative border. The reverse design is relatively simple, emphasizing the coin's practical use in everyday transactions.
In terms of its physical attributes, the Panama 25 centesimo coin is relatively small, with a diameter of approximately 18 millimeters. Its weight, owing to its silver composition, typically ranges from 2.5 to 2.7 grams. The presence of silver in this coin adds to its historical value and enhances its appeal to collectors.
The coin is crafted from 90% silver, making it highly desirable among numismatists who appreciate the intrinsic value of precious metals. The remaining 10% of the coin consists of copper, which contributes to its durability and resistance to wear and tear.
The coin was minted in the United States at the Philadelphia Mint, a renowned institution responsible for producing coins for various countries, including those in the Panama Canal Zone. Mintage, the number of coins produced in a specific year, can vary. In the case of the 1904 Panama 25 centesimo coin, mintage numbers were relatively modest, which can contribute to its collectible status and potential rarity.
When evaluating the condition of this coin, collectors often rely on grading scales, such as the Sheldon Coin Grading Scale, which ranges from "Poor" to "Mint State." A coin graded as Very Fine (VF) suggests that it exhibits moderate wear but still retains most of its original details. This indicates that the coin has been circulated but has been reasonably well-preserved over the years, a testament to its enduring quality.
An interesting fact about Panama is its strategic geographical location, with the Panama Canal serving as one of the world's most vital waterways. The canal connects the Atlantic and Pacific Oceans, revolutionizing global trade routes and fostering international cooperation.
In conclusion, the Panama 25 centesimo coin from 1904, graded as Very Fine (VF), is a tangible relic of Panama's history, its quest for independence, and its significant connection to the United States during a transformative era. 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 occupies a special place in the realm of numismatics and offers a captivating window into Panama's past.