Katz Coins Notes & Supplies Corp.
E-Auction 37 3-4 Oct 2020
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Panama 5 Coconuts 1971 Token
9.02g 29mm; This token was issued by John Mann, one of the few non-indians allowed by the Kuna (San Blas) indians to run a business on their islands. According to Coconut Money, an article which originally appeared in the October 1978 issue of The Numismatist, John Mann issued these tokens as currency in order to replace coconuts as a medium of exchange. However, the tokens had very limited circulation; the Kuna indians hoarded them at first, and then discovered tourists would pay more than the face value of five coconuts (25 cents) for them. So the indians sold them to tourists. After the initial 1971 emission, later tokens were most likely issued solely with the purpose of being sold to tourists. They were sold in BU in Panama by dealers like Dan Sander of Numismatica Ltda for many years.
9.02g 29mm; This token was issued by John Mann, one of the few non-indians allowed by the Kuna (San Blas) indians to run a business on their islands. According to Coconut Money, an article which originally appeared in the October 1978 issue of The Numismatist, John Mann issued these tokens as currency in order to replace coconuts as a medium of exchange. However, the tokens had very limited circulation; the Kuna indians hoarded them at first, and then discovered tourists would pay more than the face value of five coconuts (25 cents) for them. So the indians sold them to tourists. After the initial 1971 emission, later tokens were most likely issued solely with the purpose of being sold to tourists. They were sold in BU in Panama by dealers like Dan Sander of Numismatica Ltda for many years.