Scarce 1941 Panama P-23a 5 Balboas

This Panama P-23a 1941 5 Balboas note in a PMG Very Fine 20 grade
makes an excellent pairing with the Panama 10 Balboas note described in the
blog from last week. Both will be featured in our January 2021 World Paper
Money Auction. Notes from Panama are quite scarce, and PMG’s population report states
that just 12 examples of this pick variety have been encapsulated by their
service. Deep color from the blue and purple under-print and orange guilloche
give way to a solid impression of the primary design. The vignette at left is
of Cacique Urraca, who was an Ngäbe Amerindian chieftain who fought against
Spanish conquistadors in the early 1500s. The reverse displays detailed lathe
work, with Arms at center. PMG Comments “Corner Missing,” regarding the upper
left corner. It is a scarce note, and we expect to see spirited bidding on this

The Stack’s Bowers Galleries January 2021 Sale (an
officially sanctioned auction of the NYINC) will take place January 15-16, 2021.
To consign your World paper money to this exciting event, contact a consignment
specialist at 800-458-4646 or visit​. For more information on
viewing lots or for assistance in registering to bid, contact [email protected].

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