(sold for $7.0)

1904, Panama (Republic). Scarce Silver 2½ Centimos (Pill Coin) Coin. Lustre AU+

Mint Year: 1904 Condition: A nice AU+ Denomination: 2½ Centimos Reference: KM-1 ($35 in UNC!). Material: Silver (.900) Diameter: 10mm Weight: 1.26gm

Obverse: Armored bust of Vasco Nunez de Balboa left, wearing helmet with inscribed motto ("DOS LEY LIBERTAD"). Legend: REPUBLICA DE PANAMA / 1904

Reverse: Seven stars above eagle with banner (PRO MVNDI BENEFICIO - "For the benefit of the world") in beak above coat-of-arms. Legend: DOS Y MEDIO CENTESIMOS DE BALBOA / C.1.25 LEY 0.900

Vasco Nunez de Balboa (c. 1475 - January 15, 1519) was a Spanish explorer, governor, and conquistador. He is best known for having crossed the Isthmus of Panama to the Pacific Ocean in 1513, becoming the first European to lead an expedition to have seen or reached the Pacific from the New World. He traveled to the New World in 1500 and, after some exploration, settled on the island of Hispaniola. He founded the settlement of Santa María la Antigua del Darién in present-day Colombia in 1510, which was the first permanent European settlement on the mainland of the Americas (a settlement by Alonso de Ojeda the previous year at San Sebastian de Uraba had already been abandoned).

Panama, officially the Republic of Panama, is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The capital is Panama City. Explored and settled by the Spanish in the 16th century, Panama broke with Spain in 1821 and joined a union of Nueva Granada, Ecuador, and Venezuela - named the Republic of Gran Colombia. When the latter dissolved in 1830, Panama remained part of Colombia. With US backing, Panama seceded from Colombia in 1903. The Panama Canal was built by the US Army Corps of Engineers between 1904 and 1914. In 1977, an agreement was signed for the complete transfer of the Canal from the US to Panama by the end of the century.

Revenue from Canal tolls represent today a significant portion of Panama's GDP. Panama has the third or fourth largest economy in Central America and it is also the fastest growing economy and the largest per capita consumer in Central America. In 2010 Panama ranked 4th among Latin American countries in terms of the Human Development Index, and 54th in the world in 2010.

Panama as 2010 is the second most competitive economy in Latin America as well according to the Global Competitiveness Index from the World Economic Forum (WEF).

Panama has the largest rainforest in the Western Hemisphere outside the Amazon Basin and its jungle is home to an abundance of tropical plants, animals and birds - some of them to be found nowhere else in the world.

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