The value of a Panamanian Balboa coin depends on several factors, including:
- Face Value: Since its introduction in 1904, the Panamanian Balboa has been tied to the US dollar at a 1:1 exchange rate. Panama uses the US dollar as legal tender and doesn’t print its own paper currency, though it does mint its own coins. Current Panamanian coins, like a quarter (25 cents), have a face value of $0.25 USD.
- Metal Content: Some older or commemorative Balboa coins are made of precious metals like silver or gold, which significantly increases their intrinsic value beyond their face value.
– For example, a 1931 Balboa silver coin has a melt value of $29.30 (as of August 12, 2025).
– A 1975 100 Balboa Proof Gold Coin can be worth around $1050 USD.
- Rarity and Condition: Limited mintage, unique features (like errors), and well-preserved conditions can make a coin much more valuable to collectors.
– A rare 2008 1/10 Balboa with a broadstrike error was offered for $10 USD.
– A scarce 1931 Balboa graded MS61 (Mint State) by NGC sold for $400 USD.
– A rarer 1929 5 Cent Balboa, with only 500,000 minted, was offered at $6 USD.
- Historical Significance: Coins associated with important events or eras can also command higher prices.
In short, while the face value of a Panamanian Balboa is pegged to the US dollar, its collectible value can be significantly higher, especially for rarer or older issues, those made from precious metals, or coins with unique characteristics like minting errors.
Are Panama Balboa coins silver?
Great question! 925 fineness sterling silver 20 balboa coin honoring Simón Bolívar was introduced in 1971, it was the largest legal tender silver coin in the world, containing 3.85 ozt silver and having a 61 mm diameter.
Can you use Panama coins in the US?
From my experience, Both Panamanian coins and U.S. coins and dollars can be used in the country, though Panamanian coins generally cannot be used abroad.