Now showing: Panama - Postage stamps (1940 - 1949) - 34 stamps.
19. February WM: None Perforation: 12
![[Telegraph Stamps - Overprinted or Surcharged, type EG]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EG-s.jpg)
![[Telegraph Stamps - Overprinted or Surcharged, type XEH]](https://www.stampworld.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://www.stampworld.com/media/catalogue/Panama/Postage-stamps/XEG-s.jpg)
![[The 1st Anniversary of Revised Frontier Agreement between Panama and Costa Rica, type XEG1]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/XEG1-s.jpg)
WM: None Perforation: 12
![[Issues of 1939 Overprinted "SEGURO POSTAL" and Surcharged, type ED1]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/ED1-s.jpg)
![[Issues of 1939 Overprinted "SEGURO POSTAL" and Surcharged, type DV1]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/DV1-s.jpg)
![[Issues of 1939 Overprinted "SEGURO POSTAL" and Surcharged, type EC1]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EC1-s.jpg)
4. June WM: None Perforation: 12
![[Local Motives, type EH]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EH-s.jpg)
![[Local Motives, type EH1]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EH1-s.jpg)
![[Local Motives, type EI]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EI-s.jpg)
![[Local Motives, type EI1]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EI1-s.jpg)
![[Local Motives, type EJ]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EJ-s.jpg)
![[Local Motives, type EJ1]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EJ1-s.jpg)
![[Local Motives, type EK1]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EK1-s.jpg)
![[Local Motives, type EL]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EL-s.jpg)
![[Local Motives, type EM]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EM-s.jpg)
![[Local Motives, type EM1]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EM1-s.jpg)
![[Local Motives, type EN]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EN-s.jpg)
![[Local Motives, type EO]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EO-s.jpg)
| No. | Type | D | Color | Description |
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| 388 | EH | ½C | multicoloured | - | 0.26 | 0.26 | - | USD |
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| 389 | EH1 | ½C | multicoloured | - | 0.26 | 0.26 | - | USD |
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| 390 | EI | 1C | green | - | 0.26 | 0.26 | - | USD |
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| 391 | EI1 | 1C | carmine | - | 0.26 | 0.26 | - | USD |
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| 392 | EJ | 2C | brick-red | - | 0.26 | 0.26 | - | USD |
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| 393 | EJ1 | 2C | red/black | - | 0.26 | 0.26 | - | USD |
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| 394 | EK | 5C | blue/black | - | 0.26 | 0.26 | - | USD |
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| 395 | EK1 | 5C | light blue | - | 0.26 | 0.26 | - | USD |
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| 396 | EL | 10C | red/orange | - | 0.52 | 0.26 | - | USD |
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| 397 | EL1 | 10C | violet/orange | - | 1.05 | 0.26 | - | USD |
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| 398 | EM | 15C | light blue/black | - | 0.79 | 0.52 | - | USD |
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| 399 | EM1 | 15C | greyish black | - | 0.79 | 0.26 | - | USD |
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| 400 | EN | 50C | red/black | - | 2.10 | 0.79 | - | USD |
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| 401 | EO | 1B | black | - | 3.15 | 0.79 | - | USD |
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| 388‑401 | - | 10.48 | 4.96 | - | USD |
4. June WM: None Perforation: 12
![[Airmail - Local Motives, type EP]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EP-s.jpg)
![[Airmail - Local Motives, type EP1]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EP1-s.jpg)
![[Airmail - Local Motives, type EQ]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EQ-s.jpg)
![[Airmail - Local Motives, type EQ1]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EQ1-s.jpg)
![[Airmail - Local Motives, type ER]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/ER-s.jpg)
![[Airmail - Local Motives, type ER1]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/ER1-s.jpg)
![[Airmail - Local Motives, type ES]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/ES-s.jpg)
![[Airmail - Local Motives, type ES1]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/ES1-s.jpg)
![[Airmail - Local Motives, type ET]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/ET-s.jpg)
![[Airmail - Local Motives, type ET1]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/ET1-s.jpg)
![[Airmail - Local Motives, type ET2]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/ET2-s.jpg)
![[Airmail - Local Motives, type EU]](https://www.stampworld.com/media/catalogue/Panama/Postage-stamps/EU-s.jpg)
| No. | Type | D | Color | Description |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 402 | EP | 2C | red | Xiphius gladius | - | 0.79 | 0.26 | - | USD |
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| 403 | EP1 | 7C | red | - | 0.79 | 0.26 | - | USD |
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| 404 | EQ | 8C | olive brown/black | - | 0.26 | 0.26 | - | USD |
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| 405 | EQ1 | 10C | blue/black | - | 0.26 | 0.26 | - | USD |
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| 406 | ER | 15C | violet | - | 0.26 | 0.26 | - | USD |
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| 407 | ER1 | 15C | greyish olive | - | 0.26 | 0.26 | - | USD |
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| 408 | ES | 20C | reddish brown | - | 0.52 | 0.26 | - | USD |
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| 409 | ES1 | 20C | green | - | 0.26 | 0.26 | - | USD |
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| 410 | ET | 50C | olive green | - | 0.79 | 0.26 | - | USD |
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| 411 | ET1 | 50C | rose | - | 6.29 | 3.15 | - | USD |
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| 412 | ET2 | 50C | blue | - | 3.15 | 0.79 | - | USD |
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| 413 | EU | 1B | yellowish orange | - | 2.62 | 0.79 | - | USD |
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| 402‑413 | - | 16.25 | 7.07 | - | USD |
