{"id":10810,"date":"2014-07-23T16:02:18","date_gmt":"2014-07-23T21:02:18","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=10810"},"modified":"2014-07-23T16:02:18","modified_gmt":"2014-07-23T21:02:18","slug":"100th-anniversary-of-the-panama-canal-featured-on-new-coin","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/100th-anniversary-of-the-panama-canal-featured-on-new-coin\/","title":{"rendered":"100th Anniversary of the Panama Canal Featured on New Coin"},"content":{"rendered":"<p><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/07\/coin-panama-canal-obverse.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-10811\" title=\"coin panama canal obverse\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/07\/coin-panama-canal-obverse.jpg\" alt=\"\" width=\"456\" height=\"458\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/07\/coin-panama-canal-obverse.jpg 456w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/07\/coin-panama-canal-obverse-150x150.jpg 150w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/07\/coin-panama-canal-obverse-298x300.jpg 298w\" sizes=\"auto, (max-width: 456px) 100vw, 456px\" \/><\/a> <a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/07\/coin-panama-canal-reverse.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-10812\" title=\"coin panama canal reverse\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/07\/coin-panama-canal-reverse.jpg\" alt=\"\" width=\"456\" height=\"457\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/07\/coin-panama-canal-reverse.jpg 456w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/07\/coin-panama-canal-reverse-150x150.jpg 150w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/07\/coin-panama-canal-reverse-300x300.jpg 300w\" sizes=\"auto, (max-width: 456px) 100vw, 456px\" \/><\/a><\/p>\n<p>I got really excited when I read about this new coin but I did not understand the reference to Niue Island.\u00a0 Well it turns out that\u00a0 Niue is an island country in the South  Pacific Ocean, 2,400 kilometers northeast of New Zealand within the  triangle formed by Tonga to the west, Samoa to the north, and the Cook  Islands to the east. Population under 2,000.<\/p>\n<p>Anyway, it is a cool story and maybe someone here will come up with a coin for Panama.\u00a0\u00a0 Hey the last one cost 35 cents to make and it is a full dollar at face, now that&#8217;s the way to make money!<\/p>\n<p>The Government &amp; Treasury of Niue have launched a new coin which  marks the centennial of what is considered one of the greatest modern  wonders of the world \u2013 that of the Panama Canal. When it became  functional, the Panama Canal shortcut greatly reduced the time for ships  to travel between the Atlantic and Pacific Oceans, enabling them to  avoid the lengthy and hazardous Cape Horn route around the southernmost  tip of South America via the Drake Passage or Strait of Magellan.  Officially opened on August 15, 1914, it was one of the largest and most  difficult engineering projects ever undertaken by man. During its first  year of operations, about 1,000 ships passed through the canal in 1914,  compared to 14,702 vessels just seven years ago. The journey from start  to finish takes between 20 and 30 hours to traverse the three locks of  the canal.<\/p>\n<p>The earliest mention of a canal across the Isthmus of Panama dates  back to 1534, when Charles V, Holy Roman Emperor and King of Spain,  ordered a survey for a route through the Americas that would ease the  voyage for ships traveling between Spain and Peru, then the kingdom\u2019s  richest colony and possession. During an expedition from 1788 to 1793,  Alessandro Malaspina, an Italian nobleman who spent most of his life as a  Spanish naval officer and explorer outlined plans for its construction.  A route between the oceans was seen as an ideal and practical solution  for trans-oceanic trade and in 1855 William Kennish, a Manx-born  engineer working for the United States government, surveyed the isthmus  and issued a report on a route for a proposed Panama Canal.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/news.coinupdate.com\/wp-content\/uploads\/2014\/07\/panama-canal.jpg\" alt=\"panama-canal\" width=\"580\" height=\"123\" \/><\/p>\n<p>The first attempt to construct a canal through what was then  Colombia\u2019s province of Panama began on 1 January 1881 under the  leadership of the builder of the Suez Canal in Egypt and with  substantial funding and finance from France. Due to the inhospitable  environs of the tropics and insufficient geological surveys of the  water-soaked land not to mention the unusually high level of the loss of  life by laborers, by 1889 the company set up to construct the canal  went bankrupt and work was suspended on the 15<sup>th<\/sup> May of the  same year. At this time, the President and the Senate of the United  States were very interested in establishing a canal across the Central  American isthmus, some favoring a route across Nicaragua with others  advocating the purchase of the French interests in Panama. In June 1902,  the U.S. Senate voted in favor of pursuing the Panamanian option,  provided the necessary rights could be obtained. With Panama\u2019s eventual  declaration of independence from Colombia on the 3<sup>rd<\/sup> November  1903 which the US quickly recognized, allowing a treaty to be agreed  to, granting rights to the United States to build and indefinitely  administer the Panama Canal Zone and its defenses. President Theodore  Roosevelt appointed John Findlay Wallace, formerly chief engineer and  finally general manager of the Illinois Central Railroad, as chief  engineer of the Panama Canal Project in May 1904. The building of the  canal was completed in 1914, 401 years after Panama was first crossed by  Vasco N\u00fa\u00f1ez de Balboa. The United States spent almost $375,000,000 \u2013  the equivalent to more than 8 Billion dollars today to finish the  project. This was by far the largest American engineering project of  that or any previous era. The canal was formally opened on August 15,  1914, with the passage of the cargo ship SS <em>Ancon<\/em>. In 1977, a  new treaty between the US and Panama provided for handover to Panama.  After a period of joint American\u2013Panamanian control, the canal was  wholly taken over by the Panamanian government in 1999, and is now  managed and operated by the Panama Canal Authority, a Panamanian  government agency.<\/p>\n<p>The coin, produced by the Mint of Poland on behalf of the Government  &amp; treasury of Niue, includes a a latent image on the reverse and a  digital application of a full color image incorporated on the obverse.<\/p>\n<p>The reverse depicts a historic moment of the first vessel traversing  the Panama Canal. Above the vessel and along the rim is the text \u201c100  YEARS OF THE PANAMA CANAL\u201d. The obverse shows an image of a wind rose  against a map illustrating the Panama Canal. In the upper left corner is  the image of a smaller coin which includes an image of Her Majesty  Queen Elizabeth II. Around that coin is the inscriptions \u201cNIUE ISLAND\u201d  along with \u201c1 DOLLAR\u201d and \u201cELIZABETH II\u201d the year of issue \u201c2014\u201d and  the mint mark of m\/w.<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"139\"><strong>Denomination<\/strong><\/td>\n<td width=\"94\"><strong>Metal<\/strong><\/td>\n<td width=\"110\"><strong>Weight<\/strong><\/td>\n<td width=\"113\"><strong>Dimensions<\/strong><\/td>\n<td width=\"113\"><strong>Quality<\/strong><\/td>\n<td width=\"105\"><strong>Mintage<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"139\">1 Dollar<\/td>\n<td width=\"94\">.999 silver<\/td>\n<td width=\"110\">28.2 grams<\/td>\n<td width=\"113\">38.6 mm.<\/td>\n<td width=\"113\">Proof &amp; colour<\/td>\n<td width=\"105\">1999 pieces<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The coin is packaged in a custom designed presentation box, in a  circular shape and produced in polished wood. For more information on  this and other coins offered by the Government of Niue, please visit the  website of the Mint of Poland at: <a href=\"http:\/\/www.mennica.com.pl\/en\/products-and-services\/mint-products\/coins-of-other-issuers\/product\/zobacz\/100th-anniversary-of-the-panama-canal-1-dollar.html\">http:\/\/www.mennica.com.pl\/en\/products-and-services\/mint-products\/coins-of-other-issuers\/product\/zobacz\/100th-anniversary-of-the-panama-canal-1-dollar.html<\/a> Information offered in English and Polish. Interested collectors are  invited to contact the sales office of the Mint of Poland at: <a href=\"mailto:sales@mennica.com.pl\">sales@mennica.com.pl<\/a> for further information on the easiest way to order or to find an  authorized distributor in or close to your country of residence.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I got really excited when I read about this new coin but I did not understand the reference<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10810","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>100th Anniversary of the Panama Canal Featured on New 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