Watch List notes:

Panama, enameled gold medal with pin back, Panama Rail Road Company, mid-1800s, rare. 9.73 grams The Panama Railroad Company was incorporated in 1849 and completed its first line in 1855. It experienced its best years in the late 1850s to late 1860s, becoming one of the most profitable railway lines in the world at the time. By the 1880s, however, the company's fortunes had fallen and it was bought up by the French canal operators. In 1904, the US government bought the railroad and revitalized it. In 1979, the company was handed over to the government of Panama. The Panama Rail Road Company then became the Panama Canal Railway Company in the late 1990s where it still operates today. Rare well-preserved pin back, low-carat gold medal with only a chip in the enamel next to ROAD to note.
($1000-1500)