Panama 1915 2½c on 5c Vasco Núñez de Balboa Overprint

Panama · 1915 · 2½c on 5c

This stamp features a portrait of Vasco Núñez de Balboa, the Spanish explorer credited as the first European to reach the Pacific Ocean from the New World in 1513. The original 5 centésimos stamp was overprinted with a new value of 2½ centésimos to meet updated postal rate requirements.

Issued in 1915, this overprint reflects a common practice of the era to adapt existing stamp stocks for new postal needs, often due to economic changes or rate adjustments.