Panama Banknote Set – 1, 5, 10 & 20 Balboas (1941)

Panama Banknote Set (Paper Reproduction/Copy)

1, 5, 10 & 20 Balboas – 1941 (4 Pieces)

This Panama banknote set pays tribute to the iconic design heritage of Panamanian currency. The set includes four high-quality print and paper Copia Facsimile notes in the following denominations:

• 1 Balboa
• 5 Balboas
• 10 Balboas
• 20 Balboas

Each note reflects the original classical Latin American banknote styling, intricate engraved-style artwork, ornate borders, and detailed portrait elements of traditional Balboa issues. These notes are clearly marked as Copia / Facsimile issues and are produced strictly as novelty commemorative collectibles. They are not legal tender and carry no monetary value.

*Serial number shown in photo will be different from the ones you receive; however, they are the same on each replica. 

Important Notice

This set is sold strictly as collectible novelty currency. It is not issued by the government of Panama and is not intended for circulation or use as money. Therefore, these notes are designed for collectors, educational display, and artistic appreciation.

Learn more about the original Panama banknotes:

Issued by the Central Bank of Issue of the Republic of Panama (El Banco Central de Emisión de la República de Panamá), through Article 156 of the Constitution of Panama, as enacted by President Arnulfo Arias on September 30, 1941. The bank was authorized to issue up to 6,000,000 balboas worth of paper notes, but only 2,700,000 balboas were issued on October 2, 1941. One week later, Ricardo Adolfo de la Guardia Arango replaced Arnulfo Arias as president in a coup d’état supported by the United States. The new government immediately closed the bank, withdrew the issued notes and burned all of remaining unissued notes. Very few of the so-called “Arias Seven-Day” notes escaped incineration. 

Original Panama Balboa banknotes from the brief 1941 issue are among the rarest and most sought-after pieces in world paper money collecting. Because these notes were only in circulation for about a week before being withdrawn and most were destroyed, surviving examples are scarce and command strong prices at auction. High-grade 1941 Balboa notes have sold for well into the thousands of U.S. dollars. For example, a 20 Balboas from this issue, graded by a major third-party service, realized over $26,000 USD at a major auction, and other 10 Balboas specimens have brought more than $20,000 USD in market sales. Lesser denominations like the 1 Balboa also trade in the four-figure range when in collectible condition. These sales reflect genuine historic pieces and not fantasy or replica issues.