Panama Banco Central de Emision 20 Balboas 1941 Pick 25a PMG Very Fine 25 / TradePongo

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Panama Banco Central de Emision 20 Balboas 1941 Pick 25a PMG Very Fine 25

ID: 27556 Open

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Famously Rare 20 Balboas of 1941Panama Banco Central de Emision 20 Balboas 1941 Pick 25a PMG Very Fine 25.
The Republic of Panama is famous in the numismatic world for its silver coinage minted in the USA and its lone banknote series dated 1941. From its independence from Colombia in 1904 until 1941, Panama used US currency and perhaps the currencies of the neighboring countries. President Arnulfo Arias was a proponent for both government and private bank issues in Panama. Finally in 1941, the Central Bank of Issue of Panama issued a set of banknotes. Printed by the Hamilton Bank Note Company, four denominations were issued. However, a mere seven days later, President Arias was deposed in coup, and the new government immediately closed the banknote production, destroyed unissued banknote stocks, and withdrew as many of the issued notes as possible. Thankfully, some of the ill-fated "Arias Seven Day Notes" were saved to be collected today.