Panama Banknotes Catalog

The history of banknotes in Panama is a fascinating journey through the country's economic and cultural evolution. From its first paper money to the modern banknotes in circulation, Panama's notafilia reflects the rich heritage and progress of this Central American nation.

Current banknotes in circulation

Panama currently uses the balboa as its official currency, although in practice the U.S. dollar circulates. The bills in use are the same as in the United States, with denominations of 1, 5, 10, 20, 50 and 100 dollars. This peculiarity is due to the Monetary Agreement of 1904, which established the parity between the balboa and the US dollar.

Historical banknotes of Panama

Before the adoption of the dollar, Panama issued its own banknotes. Among the most notable are the 1941 banknotes, which included denominations of 1, 5, 10 and 20 balboas, with designs depicting historical figures and Panamanian landscapes. An important milestone in Panamanian notafilia was the 1978 commemorative issue, which celebrated the 75th anniversary of the country's independence with a 20 balboa bill, considered a highly valued collector's item.