PANAMA. Banco Central de Emision. 5 Balboas, 1941. P-23a. PMG Choice Very Fine 35.
Printed by the Hamilton Bank Note Company. Attractive blue, orange and purple underprint on the obverse stands out for the assigned grade. Depicted at left is Chieftain Urraca, who fought effectively against Spanish Conquistadors in the region of present-day Panama. The reverse of the note showcases intricate lathe work in a dark blue color. The 1941 Panama series was in circulation for roughly a week before it was recalled, leaving collectors with a limited supply of these always in demand notes today. PMG comments "Minor Repairs."
Estimate: $5000 - $7000