Heritage World Coin Auctions
Long Beach Signature Sale 3035 3-5 September 2014
View prices realized
► Sale information
Find similar lots
Panama
Palo Seco. Leper Colony Token Dollar ND (1919) VF30 NGC, KM-Tn6. McFadden 705. Plowman 500.100 which valued it in 2008 at $3000 in EF. As an adjunct of collecting the popular Panamanian coinage series, the quest to obtain the six piece set of aluminum coinage, prepared around 1919 specifically for use at the Leper Colony in Palo Seco, was always a considerable obstacle. Air Force Colonel Davis Burnett began his numismatic pilgrimage there in the early 1960's and even then was able to locate only a couple of the small denominations. Resulting from the pieces being officially withdrawn post World War Two and then destroyed in 1955, it is certain that only 133 examples could possibly still be extant. The estimate made by aficionados as long ago as 1980 is that about ten examples remain; recent estimate of "perhaps twelve" seems to be the highest number guessed. The reason for so few remaining outside the "banking community" is that they were directly and immediately convertible to USA dollar coins in the Panama Canal Zone where they were issued and once used. During the depression, with usage then at its peak, a full dollar was likely the total weekly living expenses of many in the Palo Seco colony. Secondly, the issue is not physically attractive, does not contain any precious metal, and had a stigma since leprosy was believed by some to be infectious from contact with such coins. Likely many pieces were inadvertently destroyed or lost in the humid climate and jungle. As was the case with the Whittier and McFadden sets, we expect both the Panamanian collectors plus all collectors of world crown-sized pieces to consider this opportunity to add a fascinating 38 mm "circulating token" to their holdings. Prior to the Whittier sale in 2006 and the McFadden collection at Heritage earlier this year, it was estimated that only two others had changed hands over the prior 15 to 20 years. This example does not have as much retained dirt as the MxFadden example thereby giving it some lusterlike glow near the lettering. Rare and desirable.
Estimate: 3000-5000 USD
Palo Seco. Leper Colony Token Dollar ND (1919) VF30 NGC, KM-Tn6. McFadden 705. Plowman 500.100 which valued it in 2008 at $3000 in EF. As an adjunct of collecting the popular Panamanian coinage series, the quest to obtain the six piece set of aluminum coinage, prepared around 1919 specifically for use at the Leper Colony in Palo Seco, was always a considerable obstacle. Air Force Colonel Davis Burnett began his numismatic pilgrimage there in the early 1960's and even then was able to locate only a couple of the small denominations. Resulting from the pieces being officially withdrawn post World War Two and then destroyed in 1955, it is certain that only 133 examples could possibly still be extant. The estimate made by aficionados as long ago as 1980 is that about ten examples remain; recent estimate of "perhaps twelve" seems to be the highest number guessed. The reason for so few remaining outside the "banking community" is that they were directly and immediately convertible to USA dollar coins in the Panama Canal Zone where they were issued and once used. During the depression, with usage then at its peak, a full dollar was likely the total weekly living expenses of many in the Palo Seco colony. Secondly, the issue is not physically attractive, does not contain any precious metal, and had a stigma since leprosy was believed by some to be infectious from contact with such coins. Likely many pieces were inadvertently destroyed or lost in the humid climate and jungle. As was the case with the Whittier and McFadden sets, we expect both the Panamanian collectors plus all collectors of world crown-sized pieces to consider this opportunity to add a fascinating 38 mm "circulating token" to their holdings. Prior to the Whittier sale in 2006 and the McFadden collection at Heritage earlier this year, it was estimated that only two others had changed hands over the prior 15 to 20 years. This example does not have as much retained dirt as the MxFadden example thereby giving it some lusterlike glow near the lettering. Rare and desirable.
Estimate: 3000-5000 USD