The third and fourth currency of the circulating and colored type of the series that Panama is dedicating to commemorate the "Centennial of the Panama Canal", were put into circulation on November 1. The coins have a facial of 1/4 balboa and 2 million of each have been coined.
The first has as its theme "Reversal of the Panama Canal" and refers to the return of the canal to Panamanian hands on December 31, 1999.
Panama granted in its day the rights in perpetuity of the channel, and a wide zone of eight kilometers on each side of the same one to the United States, in exchange for a sum of 10 million dollars and an annual rent of 250,000 dollars. On September 7, 1977, President Jimmy Carter and Panama's Chief of Government, Omar Torrijos, signed the Torrijos-Carter Treaty, which returned to Panama full control of the canal on December 31, 1999.
The obverse shows a large flag of Panama waving over the building of the Canal Administration and its citizens showing their joy in the historic date of December 31, 1999. In the upper part appears the face value in letters "UN CUARTO DE BALBOA" and the reason to which it is dedicated in the lower part "1999 REVERSIÓN DEL CANAL DE PANAMA"
The second commemorates the "Expansion of the Panama Canal", carried out between 2007 to 2016, and was finally inaugurated on June 26, 2016.
The Expanded Canal increased the capacity of the road to meet the growing demand for maritime trade. The expansion of the Panama Canal added a third lane for the transit of larger ships, with the construction of a complex of locks in the Atlantic and another in the Pacific.
The obverse shows an aerial view of the locks of the enlarged Canal and, as in the previous coin, the face value appears in letters "UN CUARTO DE BALBOA" and the reason to which "EXPANSION OF THE PANAMA CANAL 2007-2016" is dedicated.
On the back, in the center, the Coat of Arms of the Republic, in the outline, on the upper part, the phrase "REPUBLIC OF PANAMA" and, in the lower part, the year of coinage "2016". The edge of the coin is fluted.
The coins have been minted by the Royal Canadian Mint.
Reasons for the six coins in the series
1- Construction of the Panama Canal
2- First transit through the Panama Canal
3- Reversal of the Panama Canal
4- Start expansion of the Panama Canal
5- One hundred years of the Panama Canal
6- A century joining the world
The coins have been minted by the Royal Canadian Mint.
Reasons for the six coins in the series
1- Construction of the Panama Canal
2- First transit through the Panama Canal
3- Reversal of the Panama Canal
4- Start expansion of the Panama Canal
5- One hundred years of the Panama Canal
6- A century joining the world
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