This appears to be an early Colon token due to the incuse lettering and blank reverse. The similar A. GROSSO COLON Y CHAGRE may date from 1852 or 1853. That piece has no denomination. DOMINGO VEGA and LUM CHANG LONG & CO. have the "5" above "CENT VALE" like this token. WING CHUNG YUEN is similar but has a beaded edge and a dash between "CENT" and "VALE". JOSE MONTEVERDE has the beaded edge but also uses the cent sign. If these tokens were all by the same manufacturer using increasingly sophisticated designs, then this token may date among the earliest.

Other incuse tokens such as J. DEL C. MEJIA, J. DE LA PENA & CO. and ANTONIO ZUBIETA have a simple reverse design without beads or cent sign. There is also a two-sided example of a A. GROSSO COLON Y CHAGRE. So the manufacturer apparently was able to make double-sided tokens early on. They probably charged more for double-sided tokens, and merchants decided whether or not they wanted to pay the extra charges.

These incuse tokens are mostly from Colon and nearby towns. If the manufacturer of these tokens was based in early Colon, they may have been wiped out by the Great Fire of 1885, the financial crisis following the collapse of the French Canal Company in 1889 or they may have simply closed down when the owner died, moved or retired.