PANAMA: Republic, AR 2 1/2 centesimos, 1904, KM-1, one-year type struck at the Philadelphia Mint, brilliant luster with light rainbow toning, an example with great eye appeal! PCGS graded MS65. This coin is the smallest ever minted in the USA, thus its nickname "Panama pill." It was needed to make the 12.5 cents = 1 real of the former Hispano-American monetary system, when added to a 10 cents coin.

Estimate: USD 80 - 120