Coins to replace dollar bills for Christmas

One dollar banknotes will be in short supply in the Christmas shopping frenzy as  The National Bank of Panama will not be distributing them to banks from November 16.

The order is temporary, although no deadline for the lifting of the measure has been set.

The reason for the move is to boost the circulation of the Canadian minted commemorative Balboa  coins marking World Youth Day(WYD).

The Juan Carlos Varela administration ordered 36 million of them The coin which is not popular among users is usually referred to as a “Martinelli ” or by the more outspoken as a ladrone (thief), Piggy banks will likely be in big demand as overweighted purses and pockets are emptied.

Students of economics might be tempted  to quote Gresham’s Law: “Bad money drives out good”