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The Panama 5 centesimos coin from 1932, cataloged as KM#9 and graded as Extremely Fine (XF), is a remarkable piece of numismatic history that provides valuable insights into Panama's past. Minted over nine decades ago, this coin not only carries intrinsic historical significance but also showcases meticulous design and craftsmanship.
Before delving into the details of the coin itself, it's crucial to understand the historical context surrounding its issuance. In the early 20th century, Panama was a relatively young nation, having gained independence from Colombia in 1903 with the assistance of the United States. The Panama Canal, which began construction in the early 1900s, played a pivotal role in the region's economic development and global trade.
The design of the Panama 5 centesimos coin reflects the nation's identity and the importance of the Panama Canal. On the obverse (front) side of the coin, a powerful image of a canal worker is featured, representing the labor force that made the canal's construction possible. The words "REPUBLICA DE PANAMA" encircle the central design, proudly proclaiming the nation's sovereignty. Turning to the reverse (back) of the coin, you'll find the coin's denomination, "5 CENTESIMOS," and the year of mintage, "1932," encircled by an elegant decorative border. The reverse design is relatively simple, emphasizing the coin's practical use in everyday transactions.
Regarding its physical specifications, the Panama 5 centesimos coin is modest in size, with a diameter of approximately 20 millimeters. Its weight typically ranges from 2 to 2.5 grams, making it a practical denomination for daily commerce.
The coin is primarily composed of bronze, a durable and corrosion-resistant alloy that has been widely used in coinage throughout history. Bronze typically consists of a combination of copper and other metals, contributing to the coin's distinctive appearance and longevity.
These 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. Mintage numbers can vary from year to year, but for the 1932 Panama 5 centesimos coin, they were relatively substantial, ensuring widespread circulation.
Graded as Extremely Fine (XF), this coin is in impressive condition for its age. XF coins exhibit minimal wear and retain a high level of detail, including fine lines and features. This suggests that the coin has been lightly circulated but has been well-preserved over the years, retaining much of its original beauty.
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, facilitating global trade and significantly reducing maritime travel times for vessels, making it an indispensable link in international commerce.
In conclusion, the Panama 5 centesimos coin from 1932, graded as Extremely Fine (XF), serves as a compelling representation of the nation's history, identity, and the pivotal role of the Panama Canal. Its intricate design, practical specifications, and historical context 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 significant contributions to global trade through the Panama Canal.