Now showing: Panama - Postage stamps (1940 - 1949) - 110 stamps.
15. April WM: None Perforation: 12½
![[Airmail - The 50th Anniversary of Pan-American Union, type EE]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EE-s.jpg)
12. August WM: None Perforation: 12½
![[Airmail - Issues of 1939 and 1940 Overprinted and Surcharged, type EA1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EA1-s.jpg)
![[Airmail - Issues of 1939 and 1940 Overprinted and Surcharged, type EB1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EB1-s.jpg)
![[Airmail - Issues of 1939 and 1940 Overprinted and Surcharged, type DT1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/DT1-s.jpg)
![[Airmail - Issues of 1939 and 1940 Overprinted and Surcharged, type EE1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EE1-s.jpg)
| No. | Type | D | Color | Description |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 359 | EA1 | 5/15C | ultramarine | Airmail - Issue of 1939 Overprinted "5-5" and Surcharged | - | 0.27 | 0.27 | - | USD |
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| 360 | EB1 | 7/20C | rose | Airmail - Issue of 1939 Overprinted "AEREO SIETE" and Surcharged | - | 0.53 | 0.27 | - | USD |
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| 361 | DT1 | 7/15C | ultramarine | Airmail - Issue of 1939 Overprinted "SIETE" and Surcharged | - | 0.53 | 0.27 | - | USD |
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| 362 | EE1 | 8/15C | blue | Airmail - Issue of 1940 Overprinted "8-8" and Surcharged | - | 0.53 | 0.27 | - | USD |
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| 359‑362 | - | 1.86 | 1.08 | - | USD |
2. January WM: None Perforation: 12
![[Enactment of New Constitution - Overprinted "CONSTITUCION 1941", type BR13]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BR13-s.jpg)
![[Enactment of New Constitution - Overprinted "CONSTITUCION 1941", type BR14]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BR14-s.jpg)
![[Enactment of New Constitution - Overprinted "CONSTITUCION 1941", type BR15]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BR15-s.jpg)
![[Enactment of New Constitution - Overprinted "CONSTITUCION 1941", type BR16]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BR16-s.jpg)
![[Enactment of New Constitution - Overprinted "CONSTITUCION 1941", type BR17]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BR17-s.jpg)
![[Enactment of New Constitution - Overprinted "CONSTITUCION 1941", type BR18]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BR18-s.jpg)
![[Enactment of New Constitution - Overprinted "CONSTITUCION 1941", type BR19]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BR19-s.jpg)
| No. | Type | D | Color | Description |
|
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 363 | BR13 | ½C | orange | - | 0.27 | 0.27 | - | USD |
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| 364 | BR14 | 1C | green | - | 0.27 | 0.27 | - | USD |
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| 365 | BR15 | 2C | carmine | - | 0.27 | 0.27 | - | USD |
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| 366 | BR16 | 5C | dark blue | - | 0.53 | 0.27 | - | USD |
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| 367 | BR17 | 10C | purple | - | 0.80 | 0.80 | - | USD |
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| 368 | BR18 | 15C | ultramarine | - | 1.60 | 0.80 | - | USD |
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| 369 | BR19 | 50C | orange | - | 6.42 | 4.28 | - | USD |
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| 370 | BR20 | 1B | black | - | 16.04 | 8.56 | - | USD |
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| 363‑370 | - | 26.20 | 15.52 | - | USD |
2. January WM: None Perforation: 12-12½
![[Enactment of New Constitution - Overprinted "CONSTITUCION 1941", type BX9]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BX9-s.jpg)
![[Enactment of New Constitution - Overprinted "CONSTITUCION 1941", type BR21]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BR21-s.jpg)
![[Enactment of New Constitution - Overprinted "CONSTITUCION 1941", type BY6]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BY6-s.jpg)
![[Enactment of New Constitution - Overprinted "CONSTITUCION 1941", type BZ6]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BZ6-s.jpg)
![[Enactment of New Constitution - Overprinted "CONSTITUCION 1941", type BZ7]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BZ7-s.jpg)
| No. | Type | D | Color | Description |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 371 | BX9 | 7/10C | orange | Airmail - Overprinted "CONSTITUCION 1941 AEREO" and Surcharged Value in Figures | - | 0.80 | 0.80 | - | USD |
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| 372 | BR21 | 15/24C | light brown | Airmail - Overprinted "CONSTITUCION 1941 AEREO" and Surcharged Value in Figures | - | 2.14 | 2.14 | - | USD |
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| 373 | BY6 | 20C | carmine | Airmail - Overprinted "CONSTITUCION 1941" | - | 1.60 | 1.60 | - | USD |
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| 374 | BZ6 | 50C | red | Airmail - Overprinted "CONSTITUCION 1941" | - | 5.35 | 3.21 | - | USD |
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| 375 | BZ7 | 1B | black | Airmail - Overprinted "CONSTITUCION 1941" | - | 12.83 | 8.56 | - | USD |
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| 371‑375 | - | 22.72 | 16.31 | - | USD |
WM: None Perforation: 12
![[Airmail - Map of Panama, type BY7]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BY7-s.jpg)
![[Airmail - Map of Panama, type BY8]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BY8-s.jpg)
![[Airmail - Map of Panama, type BT13]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BT13-s.jpg)
![[Airmail - Map of Panama, type BT14]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/BT14-s.jpg)
19. February WM: None Perforation: 12
![[Telegraph Stamps - Overprinted or Surcharged, type EG]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EG-s.jpg)
![[Telegraph Stamps - Overprinted or Surcharged, type XEH]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/XEH-s.jpg)
25. April WM: None Perforation: 12
![[The 1st Anniversary of Revised Frontier Agreement between Panama and Costa Rica, type XEG]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/XEG-s.jpg)
![[The 1st Anniversary of Revised Frontier Agreement between Panama and Costa Rica, type XEG1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/XEG1-s.jpg)
WM: None Perforation: 12
![[Issues of 1939 Overprinted "SEGURO POSTAL" and Surcharged, type ED1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/ED1-s.jpg)
![[Issues of 1939 Overprinted "SEGURO POSTAL" and Surcharged, type DV1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/DV1-s.jpg)
![[Issues of 1939 Overprinted "SEGURO POSTAL" and Surcharged, type EC1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EC1-s.jpg)
4. June WM: None Perforation: 12
![[Local Motives, type EH]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EH-s.jpg)
![[Local Motives, type EH1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EH1-s.jpg)
![[Local Motives, type EI]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EI-s.jpg)
![[Local Motives, type EI1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EI1-s.jpg)
![[Local Motives, type EJ]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EJ-s.jpg)
![[Local Motives, type EJ1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EJ1-s.jpg)
![[Local Motives, type EK1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EK1-s.jpg)
![[Local Motives, type EL]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EL-s.jpg)
![[Local Motives, type EM]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EM-s.jpg)
![[Local Motives, type EM1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EM1-s.jpg)
![[Local Motives, type EN]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EN-s.jpg)
![[Local Motives, type EO]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EO-s.jpg)
| No. | Type | D | Color | Description |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 388 | EH | ½C | multicoloured | - | 0.27 | 0.27 | - | USD |
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| 389 | EH1 | ½C | multicoloured | - | 0.27 | 0.27 | - | USD |
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| 390 | EI | 1C | green | - | 0.27 | 0.27 | - | USD |
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| 391 | EI1 | 1C | carmine | - | 0.27 | 0.27 | - | USD |
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| 392 | EJ | 2C | brick-red | - | 0.27 | 0.27 | - | USD |
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| 393 | EJ1 | 2C | red/black | - | 0.27 | 0.27 | - | USD |
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| 394 | EK | 5C | blue/black | - | 0.27 | 0.27 | - | USD |
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| 395 | EK1 | 5C | light blue | - | 0.27 | 0.27 | - | USD |
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| 396 | EL | 10C | red/orange | - | 0.53 | 0.27 | - | USD |
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| 397 | EL1 | 10C | violet/orange | - | 1.07 | 0.27 | - | USD |
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| 398 | EM | 15C | light blue/black | - | 0.80 | 0.53 | - | USD |
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| 399 | EM1 | 15C | greyish black | - | 0.80 | 0.27 | - | USD |
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| 400 | EN | 50C | red/black | - | 2.14 | 0.80 | - | USD |
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| 401 | EO | 1B | black | - | 3.21 | 0.80 | - | USD |
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| 388‑401 | - | 10.71 | 5.10 | - | USD |
4. June WM: None Perforation: 12
![[Airmail - Local Motives, type EP]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EP-s.jpg)
![[Airmail - Local Motives, type EP1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EP1-s.jpg)
![[Airmail - Local Motives, type EQ]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EQ-s.jpg)
![[Airmail - Local Motives, type EQ1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EQ1-s.jpg)
![[Airmail - Local Motives, type ER]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/ER-s.jpg)
![[Airmail - Local Motives, type ER1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/ER1-s.jpg)
![[Airmail - Local Motives, type ES]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/ES-s.jpg)
![[Airmail - Local Motives, type ES1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/ES1-s.jpg)
![[Airmail - Local Motives, type ET]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/ET-s.jpg)
![[Airmail - Local Motives, type ET1]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/ET1-s.jpg)
![[Airmail - Local Motives, type ET2]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/ET2-s.jpg)
![[Airmail - Local Motives, type EU]](https://swmedia-4cd6.kxcdn.com/media/catalogue/Panama/Postage-stamps/EU-s.jpg)
| No. | Type | D | Color | Description |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 402 | EP | 2C | red | Xiphius gladius | - | 0.80 | 0.27 | - | USD |
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| 403 | EP1 | 7C | red | - | 0.80 | 0.27 | - | USD |
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| 404 | EQ | 8C | olive brown/black | - | 0.27 | 0.27 | - | USD |
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| 405 | EQ1 | 10C | blue/black | - | 0.27 | 0.27 | - | USD |
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| 406 | ER | 15C | violet | - | 0.27 | 0.27 | - | USD |
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| 407 | ER1 | 15C | greyish olive | - | 0.27 | 0.27 | - | USD |
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| 408 | ES | 20C | reddish brown | - | 0.53 | 0.27 | - | USD |
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| 409 | ES1 | 20C | green | - | 0.27 | 0.27 | - | USD |
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| 410 | ET | 50C | olive green | - | 0.80 | 0.27 | - | USD |
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| 411 | ET1 | 50C | rose | - | 6.42 | 3.21 | - | USD |
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| 412 | ET2 | 50C | blue | - | 3.21 | 0.80 | - | USD |
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| 413 | EU | 1B | yellowish orange | - | 2.67 | 0.80 | - | USD |
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| 402‑413 | - | 16.58 | 7.24 | - | USD |
