Canada mints  4 million  Red Cross balboas for Panama

Made in Canada, used in Panama

 
2,142Views 5Comments Posted 21/06/2019

Another four million  one balboa coins came into circulation  Panama  on  Thursday, June 20, adding to the 80 million already in circulation The Balboa is on par with the US dollar

The new coins are allusive to the celebration of the one hundred years of foundation of the Panamanian Red Cross (1917-2017).he coins carry the Red Cross logo and an image of volunteers in action. The Panamanian Red Cross was founded in 1917.

 

In addition to the four million coins in the denomination of a balboa, other collectibles were also minted, with a  sale price of  $60.00,

The funds, after deduction of the expenses generated by the coinage to the National Bank, will be transferred to the Panamanian Red Cross exclusively for works and programs aimed at humanitarian assistance.

"The currency is a way of recognizing the effort and work of all the volunteers who have worked in the Panamanian Red Cross and that the population knows more about the institution," said its vice president, Eliseo Ríos.

During the administration of President Juan Carlos Varela, there have been several minting of commemorative coins.

The Cabinet Council last year approved the contracting of the Canadian state-owned company Royal House of the Currency of Canada (supplier of the coinage of fractional coins of Panama during the last 25 years) to carry out the printing of millions of metallic fractional coins and legal tender in Panama.

During the World Youth Day (WYD), for example, 40 million balboa coins were minted for current circulation; and for collectors, more than 14,000  were produced with a denomination of $20.00.


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Comments 5

user
Viva martinelli.

Maybe to pay somebody of one of the politicians instead of three thousand to $5,000 a week

5 months ago
user
Viva martinelli.

Maybe to pay somebody of one of the politicians instead of three thousand to $5,000 a week

5 months ago
user
Viva martinelli.

Maybe to pay somebody of one of the politicians instead of three thousand to $5,000 a week

5 months ago
user
Panama Jack

Great idea -- does that idiot they elected for a President actually think that all the funds won't go to the dirty politicians. Odds are no hungry child will ever see a penny of that money. Some politician, like the relative of Celma Moncada will steal it.

5 months ago
SK
 
StanK

probably costs 25 cents to mint a balboa, vs paying 1 dollar to buy a paper note from us treasury

5 months ago
The comments are the responsibility of each author who freely expresses his opinion and not that of Newsroom Panama.
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