Stack's Bowers & Ponterio
May 2023 World CCO Auction 16-19 May 2023
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PANAMA. 2-1/2 Centesimos, 1904. Philadelphia Mint. PCGS MS-64.
KM-1. The smallest coin minted in the United States, the "Panama Pill," so-called on account of its diminutive status and similar size to a medicinal pill, was needed in transactions in order to represent 1 Bit (Real) from the former Spanish colonial coinage system. Pairing a "Pill" with a current 10 Centesimos would equal 12-1/2 Centesimos, the fractional equivalent of a "Piece of Eight." Ever popular and rather enchantingly toned.
Estimate: $100 - $200
KM-1. The smallest coin minted in the United States, the "Panama Pill," so-called on account of its diminutive status and similar size to a medicinal pill, was needed in transactions in order to represent 1 Bit (Real) from the former Spanish colonial coinage system. Pairing a "Pill" with a current 10 Centesimos would equal 12-1/2 Centesimos, the fractional equivalent of a "Piece of Eight." Ever popular and rather enchantingly toned.
Estimate: $100 - $200