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1/10 Balboa Republic
| Issuer | Panama |
|---|---|
| Year | 1953 |
| Type | Commemorative circulation coin |
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| Obverse description | The national arms of Panama are displayed centrally, comprising a shield quartered with symbols of Panamanian sovereignty, flanked by a cornucopia and an eagle below, and surmounted by nine stars representing the nine provinces of the republic at the time of issue. The legend REPUBLICA DE PANAMA arcs across the upper field, while PRO MUNDI BENEFICIO curves along the lower portion of the shield. Silver fineness and weight specifications appear in the field on both sides of the arms, and the date 1953 is situated in the lower exergue. |
|---|---|
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| Reverse description | An armoured bust of Vasco Núñez de Balboa faces left in profile, rendered in high relief with detailed period armour including a gorget and helmet. Balboa was the first European to cross the Isthmus of Panama and reach the Pacific Ocean by land in 1513. The denomination UN DECIMO DE BALBOA arcs across the upper field, and the commemorative legend *CINCUENTENARIO* is inscribed below the bust, marking the fiftieth anniversary of the Republic of Panama. |
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| Additional information |
Panama's coinage has always operated in a peculiar monetary arrangement: the balboa exists as a physical coin but the country runs on U.S. dollars, with Panamanian silver functioning essentially as a parallel token currency since the republic's founding in 1903. The 1953 issue was struck at the Philadelphia Mint under a long-standing arrangement by which Panama contracted U.S. facilities for its coinage production.
That year's mintage was modest, and the series saw no further tenth-balboa production for several years afterward.