Silver Liberty Balboa from Panama, Invest in Silver!

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Monday is shaping up to be a nice day here in southern California. As a matter of fact the next few days are as well with temperature in the mid to high 70's (~25 C). Now I remember why I moved here in the first place and I sure don't miss shoveling snow. If only it weren't so crowded and expensive to live here it would be paradise!

It's been some time since I shared one of my coins from Panama, and today I have one that is really nice. In Panama the denomination they use is the Balboa, named after the conquistador Vasco Nunez de Balboa. I shared more about him in another post if you are interested you can see it here. Ever since it's inception it has been pegged in price to the US Dollar which is also legal tender in Panama. But moving onto the coin...

This particular design I've always liked, it was only used in a few mintage years the first being in 1931. Then in 1934 there were some produced and one last time in 1947. It has Liberty on the coin rather than the nation's coat of arms which I find much prettier personally.

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About the coin:

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From numista.com

This was minted in the US Mint in Philadelphia, Pennsylvania, the US Mint used to frequently produce coins for other nations. It still does on occasion, but with so many coins produced here in the US, I'm not sure how they find the time!

Currently the silver in the coin is worth $44.92 which isn't too bad. Silver is still just about $58 per Troy ounce, but I would expect some price increases in the very near future as the supply is much smaller than the current demand. @bulliontools recently sent off some silver off to have it refined and was quoted a four months turn around time, just to give you an idea how much silver is in demand right now. Invest in silver, it's always a good idea!

Since this coin is relatively uncommon they sell for about $73 in this condition. They can go for quite a bit more in uncirculated condition, but most of these were coins used in circulation so they are hard to find. This is a coin I would like to upgrade to a higher quality one, that will have to be down the road sometime from now as for now my budget is a bit tight!

Panama has produced a lot of silver coins over the years and they are great to collect. They do tend to be less expensive than US coins and they come from a beautiful country in Central America. If you ever get the opportunity to visit Panama, I highly recommend it, it's such a pretty place. And the Panama Canal is huge, it was so much bigger than I had ever imagined! Panama is definitely one of my favorite countries to visit in the region. Now I want to head back there myself!

That will wrap up my post for this Monday. I hope you enjoyed seeing the beautiful Balboa silver coin, and I recommend investing in silver if you don't already. It's real money that mankind has used since before recorded history, and will always have value. Please feel free to leave any questions or comments below, and as always thank you so much for all of your support. Have a great week everyone!

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References:

https://en.numista.com/18304

https://www.kitco.com/charts/silver

Disclaimer

I am not a financial planner and this isn't financial advice. Please always do your own research before investing your money. You worked hard enough to earn it!

All pictures are mine unless otherwise indicated

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34 comments
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You received an upvote of 100% from Precious the Silver Mermaid!

Thank you for contributing more great content to the #SilverGoldStackers tag.
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That is a pretty cool coin. Interesting that they seem to have embraced Balboa. Maybe he wasn't as bad as some of the other explorers? I'm guessing that's probably not true.

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Thanks! Balboa was just as vicious as the rest, but did explore most of what is Panama today and was the first European to see the Pacific Ocean. He met a bad end as another rival conquistador had him executed. But he ended up in the history books as famous explorer...

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Isn't it pretty!!!
I have the 1947 Balaboa coin! So you have the first issue, and I have the last! COOL!!!

!BBH
!LADY
!PIZZA

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They really are pretty aren't they? I would love to find a mint state San Francisco Mint from 1934 to add to the stack!
!BBH
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Always an interesting coin from your collection my friend. that one looks so nice.
$73 for the coin seems nice for the collector, but still way too high for me, and too far if I have to visit panama.
!LOLZ !PIZZA !LUV

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Thanks! When I lived in South America I travelled a lot all over. It was inexpensive to do so at the time and was able to pick up a lot of coins like these over the years. I was surprised it was worth that much to be honest, I hadn't really thought about this coin in years!
!BBH
!PIZZA
!LOL

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That's a sweet looking coin. I have a 1970's Panama proof set in the vault somewhere that I think is also Balboa.

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Thanks, glad you like it! I have several Franklin Mint coins from there as well, they are pretty sweet! I liked the 1970 proof set you shared, those are real beauties!
!BBH
!PIZZA

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!ALIVE
!BBH
!LADY
!PIZZA

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Enjoy the Sunshine my friend!!😎
Crazy how expensive everything is now days.......we get high prices on everything, and we still get to shovel snow Lol!!🤣

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I always do enjoy it, although I'm still kicking around the idea of exchanging it for Florida. Everything is really expensive anymore, especially here. I don't do much driving except locally so gas doesn't kill me, but everything else is so pricey!

Hopefully the snow skips you this year altogether! lol

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It would be nice to not have put the snow tires on😇☺️
Said that everything on the West Coast is so expensive!
Would the humidity in Florida bother you?

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No, but I lived for so many years in the Caribbean that I kind of miss the humidity to be honest!

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I’ve kind of become a desert person after living in the high country of Colorado Lol!😇
I have two dehumidifiers running in our home even with the woodstove the humidity hovers around 50% 😅

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90% silver for that coin is great, and it increases its value

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Credited in finding a dry shortcut to the Pacific Ocean. I bet he tried to think of a way to get a ship over to the other side.
!PIMP

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