24th June 1904
|1904 Sc1 SG1||xxx|
perf 12, no wmk, engraved
|Stamps of Panama † handstamped in violet or violet-blue|
|2 centavos rose||1||1|
† Although these are the "stamps of Panama", they are originally the stamps of Colombia overprinted for the Republic of Panama. Previously a department of Colombia, Panama gained independence in 1903. The countries are divided by the canal. The double overprint (especially with one being a handstamp) allows for many variants listed in the catalogues, but not specified in table above.
The Panama Canal: a strip of land 10 miles wide within Panama, joining the Pacific and Atlantic Oceans. The US bought a lease on the land for $10M and it became a US Government Reservation from 1904 until 1979. It was then jointly controlled by the US and Panama until 1999 when control reverted to Panama.