Panama has officially launched a commemorative coin program honoring two national institutions. A new law took effect this week authorizing the minting of special edition coins for the Palacio de las Garzas and the Office of the First Lady. The initiative, established by Law 499, will run from 2025 through 2029.
The legislation adds a temporary article to the nation’s Fiscal Code, creating a legal framework for the production of nickel, silver, and gold coins. Each coin will feature designs representing these state symbols while maintaining the national coat of arms on the reverse side. Officials from the Ministry of Economy and Finance confirmed the program’s details in an official statement released Monday.
“This commemorative program celebrates our nation’s heritage and supports charitable works,” [Translated from Spanish] said a spokesperson for the Presidency. “The coins will have legal tender status and their sales will benefit cultural and social programs across Panama.”
The National Bank of Panama will manage the distribution of these collector’s items. All coins will feature proof coinage quality finishes, arriving packaged in high-resistance capsules and special presentation cases. Each set includes a certificate of authenticity detailing the metal composition, series number, and total mintage figures.
Production Details and Distribution Plans
Specific minting quantities have been strictly defined by the new legislation. For the Presidential Palace commemoratives, production will include up to two thousand nickel coins, six hundred silver coins, and two hundred gold coins. Identical quantities will be minted for the First Lady’s Office series, referencing the work of the current primera dama.
Denominations will vary according to their metallic composition. The coins will carry face values of 1, 20, and 50 balboas. While they maintain legal tender status, their primary purpose remains commemorative and collectible. The Ministry of Economy and Finance retains authority over final artistic elements, provided they maintain the required symbolic imagery.
Officials may negotiate specific characteristics and quantities within the authorized limits. This flexibility allows for potential adjustments based on collector demand and production considerations. The National Reserve will receive the entire mintage for preservation and eventual sale to the public.
Charitable Focus and National Impact
Proceeds from coin sales will directly support philanthropic efforts across the country. After deducting production costs covered by the National Bank and Ministry of the Presidency, royalties will flow to the Asociación Pro Obras de Beneficencia. This organization channels resources into cultural, historical, and social programs with national reach.
“These coins represent more than numismatic value,” [Translated from Spanish] noted a finance ministry official. “They become vehicles for social support, transforming collectible items into tools for national development and cultural preservation.”
The program creates a self-sustaining funding mechanism for charitable works. By leveraging national symbols and precious metals, the government aims to generate ongoing revenue for community projects. This approach follows similar successful commemorative programs in other nations.
Law 499 became effective immediately upon its official publication. The five-year timeline provides collectors with a clear window for acquisition while ensuring sustained support for the designated charitable programs. Panama’s numismatic community has already expressed strong interest in the upcoming releases.