By Christopher DahnckeCurrency Auction Associate, Stack’s Bowers Galleries ……

Panama P-24a 1941 10 Balboas

Scarce 1941 Panama 10 Balboas Note at Stack's Bowers Jan. World Paper Money Auction

Our January 2021 NYINC sale is filling up with a vast array of paper money from around the globe that is sure to excite collectors. One such item is a Panama P-24a 1941 10 Balboas note graded by PMG as Very Fine 25.

Paper Money Guaranty’s (PMG) population report lists just 10 examples of this pick variety that have been encapsulated by their service, a testament to the scarcity of the 10 Balboas variety. The reverse of the note is printed in dark brown ink and displays an intricately lathed design, which is exceptionally appealing. The front of the note features light green and dark salmon colored inks along with a still-attractive design of Panama Viejo at the center flanked by two obligations.

This note is sure to attract spirited bidding as examples from the 1941 series are quite scarce, especially denominations above One Balboa. PMG comments “Rust, Annotation.”

Panama P-23a 1941 5 Balboas

Scarce 1941 Panama 5 Balboas Note at Stack's Bowers Jan. World Paper Money Auction

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 above. 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 a Ngäbe Amerindian chieftain who fought against Spanish conquistadors in the early 1500s. The reverse displays detailed lathe work, with Arms at the center. PMG Comments “Corner Missing”, regarding the upper left corner.

It is a scarce note, and we expect to see spirited bidding on this lot.

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The Stack’s Bowers Galleries January 2021 Sale (an officially sanctioned auction of the NYINC) will take place on 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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