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The Panama 5 Centesimos 1968 KM#23.2 PF coin is a remarkable numismatic treasure that offers a glimpse into Panama's history and cultural heritage during the late 20th century. Minted in 1968, this coin represents an era of growth and development for the nation, and it holds significant value for collectors and enthusiasts alike.
The history of the Panama 5 Centesimos coin is closely tied to the country's use of the Balboa as its official currency. Named after Vasco Núñez de Balboa, the Spanish explorer who first crossed the Isthmus of Panama and discovered the Pacific Ocean, the Balboa has been Panama's official currency since 1904. Notably, Panama also uses the U.S. dollar as legal tender, and both currencies circulate interchangeably.
The design of the Panama 5 Centesimos 1968 KM#23.2 PF coin reflects Panama's cultural identity and the era in which it was minted. The obverse side of the coin features a depiction of Vasco Núñez de Balboa, the namesake of the currency, standing with a banner in his hand. This image pays homage to Balboa's exploratory journey and pivotal role in Panama's history. The design is intricately detailed, with Balboa's likeness rendered with precision and the background adorned with intricate patterns. On the reverse side of the coin, the denomination "5 CENTESIMOS" is prominently displayed at the center, along with the year of minting, "1968." The overall design is framed by an intricate border, adding to the coin's visual appeal and sense of craftsmanship.
In terms of its physical specifications, the Panama 5 Centesimos 1968 KM#23.2 PF coin is relatively small in size, with a diameter of approximately 19 millimeters. This compact size allows for the coin's design details to be effectively showcased, making it an ideal canvas for numismatic artistry.
The coin has a weight of approximately 2.5 grams, providing a satisfying heft when held in hand. Its weight and size make it an ideal denomination for both collecting and everyday use as a circulating coin.
Regarding its composition, the Panama 5 Centesimos coin is typically made from bronze, an alloy known for its durability and resistance to corrosion. This choice of material ensures that the coin can withstand the rigors of circulation while retaining its luster and appearance over time.
The coin was minted in Panama, specifically at the National Mint of Panama, the official minting facility responsible for producing the country's currency. The mintage of the 1968 Panama 5 Centesimos coin can vary, but it was typically produced in quantities necessary to meet the demands of everyday commerce, making it a readily available denomination.
When assessing the condition of this coin, it is classified as PF (Proof), indicating that it was struck using specially prepared dies and polished planchets to create a coin with exceptional detail and a mirrored background. PF coins are known for their sharp design features and pristine surfaces, making them highly sought after by collectors.
A fascinating fact about Panama is its strategic location as the site of the Panama Canal, one of the most crucial waterways in the world. The canal, connecting the Atlantic and Pacific Oceans, has played a pivotal role in global trade and transportation, making Panama a pivotal player in international affairs. The coin serves as a tangible reminder of Panama's importance on the world stage.
In conclusion, the Panama 5 Centesimos 1968 KM#23.2 PF coin is a captivating numismatic piece that captures the essence of Panama's cultural heritage and historical significance. Its intricate design, modest size, substantial weight, bronze composition, and connection to Panama's role in global trade make it a cherished addition to any coin collection. Whether admired for its aesthetic appeal, historical context, or representation of Panama's unique identity, this coin stands as a testament to the nation's enduring legacy in the world of numismatics.