Panama's silver history is uniquely tied to the United States. Since 1904, the Panamanian Balboa has been pegged to the US Dollar at a 1:1 ratio. This relationship means that Panamanian silver coins were struck with the exact same weight and 90% silver purity as American coins of the same era.
From the iconic 1 Balboa "Crown" to the tiny 2 1/2 Centesimos known as the "Panama Pill," these coins are a favorite for North American stackers. Because they shared the same planchets as US coins, they are instantly familiar in the hand. Even during the late 1960s, Panama followed the US lead by issuing 40% silver-clad Balboas for circulation.
| Coin Type | Purity | Years | ASW (oz) |
|---|---|---|---|
| 1 Balboa (Crown) | 90.0% | 1931-1947 | 0.7735 |
| 1/2 Balboa (Silver Clad) | 40.0% | 1966-1972 | 0.1479 |
| 1/2 Balboa | 90.0% | 1930-1962 | 0.3617 |
| 1/4 Balboa | 90.0% | 1930-1962 | 0.1808 |
| 10 Centesimos | 90.0% | 1904-1962 | 0.0723 |
| 5 Centesimos | 90.0% | 1904-1916 | 0.0723 |
| 2 1/2 Centesimos (Panama Pill) | 90.0% | 1904 | 0.0362 |
