Watch List notes:

PANAMA: 5 centavos token, ND (ca. 1890), PT-25.10, Schimmel-41, 24.5mm, JUAN / ARIAS / DAVID through three flat folds one above the other forming rectangles for the legend // numeral 5 circled by 51 small dots, VALE CENTAVOS around, small six-point crown either side, VF, S. The issuer was Juan Arias, who owned a general store named Bazar Chiricano in David and a plantation named "La Indiada" nearby. He was listed as a "General Merchant" in the city of David in the Commercial Directory of the American Republics (1897-1898). The token was issued around 1890 by the store where that was founded in 1886. Juan Arias (whose full name was Juan de Dios Arias Avila) was born March 8, 1856 in Panama City, Panama. His brother was Tomas Arias, one of the founding fathers of Panama. In 1885, at around the age of 28, Juan Arias left Panama City and moved to the city of David in the province of Chiriqui. In 1886 he founded a general store named Bazar Chiricano. He also became the owner of a very large property. This finca (plantation) was named "La Indiada". Juan Arias married Domitila Quintero Villareal (sister of General Manuel Quintero Villareal). She was born in Pese, province of Herrera on May 12, 1865 and died February 2, 1927 in David, Chiriqui.

Estimate: 75-100 USD