Panama Could Mint $40 Million in Coins

The Economy Ministry is waiting for a price quote to mint $40 million balboas in coins.

Wednesday, April 21, 2010

The quotation was requested to the Royal Canadian Mint.

Experts explained that the operation aims to reduce the costs paid by the National Bank of Panama when replacing one dollar bills.

Dulcidio De La Guardia, finance ministry, commented that this would increase the use of commercial machines which utilize coins.

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More on this topic

The Cost of Minting Coins

September 2015

For every coin of 25 cents made by the Royal Mint of Canada, the Panamanian government paid 19 cents.

Data collected from documents published on PanamaCompra by Prensa.com shows that "... This year, the MEF signed with the Canadian company a contract for the manufacture of 12 million coins in denomintions of 25 cents with a value of 2 million 280 thousand US dollars. "

Panama: Coin Minting for $37 million

July 2015

The mintage is scheduled to take place between 2016 and 2019, in denominations of 1 cent, 5 cents, 10 cents, 25 cents, 50 cents and 1 balboa.

From a statement issued by the Ministry of Economy and Finance in Panama:

In order to meet the needs of the National Bank of Panama (BNP) and of the entire commercial sector of the country for the availability of coins for daily productive activities and to raise funds for the National Treasury, the Minister of Economy and Finance Dulcidio De La Guardia, introduced a bill to the National Assembly that authorizes the minting and issuance of current circulation coins in different denominations, with a nominal value of up to 37.2 million dollars.

Honduras Tenders Coin Minting

August 2012

The Central Bank of Honduras is putting out to tender the minting of 140 million pieces of coins of different denominations.

According to the specifications the tender is for:

50 million pieces of finished coins in the denominations of L0, 05;

30 million pieces of finished coins in the denominations of L0, 010;

New Coins of One and Two Balboas

January 2011

Panama minted coins of one and two Balboas for circulation at par with the Dollar.

José Ramón Fernández, director of the Ministry of Economy and Finance, noted that the measure does not imply any changes in the Dollarized economy of the country. The coins will be used without any restrictions and with the same nominal value of the U.S. Dollar.

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