Stack’s Bowers Galleries will offer a full set of the 1941 Panama Arias series in their upcoming June Collectors Choice Online (CCO) Auction. Individually the notes have realized historic prices since the pandemic began, with multiple higher-grade examples all bringing five-figure sums, in many cases more than $40,000 USD.
The set that will be offered in the June CCO auction includes all of the notes in the Very Fine grade range. Some show minor rust yet maintain their overall eye appeal. The highlight of the group, the 20 Balboa, features a very low serial number of 59. As the leading United States auction house for Panamanian currency, the firm has already reached out to top collectors for this type of material, anticipating strong bidder participation as this set crosses the auction block.
This highly sought group will likely be among the more affordable sets offered together, given there are no ultra-high-grade pieces included. However, given the current strong market, they are expected to fetch far more than similarly graded examples have in the past.
Aris Maragoudakis, Director of World Paper Money at Stack’s Bowers, stated:
“This historic set has been on countless client lists since my tenure at Stack’s Bowers Galleries began in 2015. Even though we have sold a few since the pandemic began, I haven’t even made it halfway through that list. The demand for these Arias issues is probably greater today than it was during the drought in the late 2010s.”
The desirability of the set can be directly attributed to its very short-lived release into circulation. As more and more collectors enter the market and learn the history of the set, it is likely that strong demand will continue.
For more information regarding the set, please reach out to Stack’s Bowers Galleries directly at [email protected].