Obverse Design The legend "ZUBIETA & PASOS" curves along the top. The legend "CULEBRA" curves along the bottom, with five-point star dividers on either side. The center has a quatrefoil ornament that looks like four tulips in the shape of a cross, with one tulip going up, one down, one right and one left, sharing a starting point in the center. The token has denticles along the edge and a smooth plain raised edge.
Reverse Design The legend "VALE" (meaning VALUE in Spanish) curves along the top. The legend "CENTAVOS" (meaning CENTS in Spanish) curves along the bottom. In the center is a large number 5 with rays coming out from it. There are a total of 32 rays arranged in sixteen pairs. The token has denticles along the edge and a smooth plain raised edge.
Metal White metal, probably copper-nickel. Weight About 2.8 grams. Size and Shape Round, 20 mm in diameter.
Dates Issued Unknown. Between 1852 and 1906. Rulau gives it a date of 1870.
Issurer Zubieta and Pasos. Most likely Zubieta was Antonio Zubieta of Culebra and Colon who is named on a different token series.
Mintage Unknown.
Rarity Common. Manufacturer Unknown, possibly Scovill Manufacturing Company of Waterbury, Connecticut. Other Catalog Numbers Asociación Numismático's F-302 (photo), Bernal #374, Eklund #1030, Henkle's Colon #40 (photo), Henao's COM 568-1, Conte-Porras page #100, Plumer page #10, Rulau's CZ 20, Schimmel #36 and Ulex Auction Catalog (1908) Lot #3352.
Varieties None that are close. However, Antonio Zubieta of Culebra and COlon issued two varieties of incuse tokens.
Function Merchant token.
Population Count Thirty-seven (37) specimens of this token in collector hands are known to me. Recent sales include:
  1. Auction sale on eBay on March 25, 2008 for $21.61 plus $3.52 shipping.
  2. Auction sale on eBay on March 17, 2007 for $37 plus $3 shipping.
  3. Auction sale on eBay on October 7, 2006 for $45 plus $3 shipping.
  4. Auction sale on eBay on June 12, 2006 for $64.99 plus $5.99 shipping.
  5. Auction sale on eBay on January 8, 2006 for $27 plus $2 shipping.
  6. Auction sale on eBay on May 16, 2004 for $94.93 plus $.75 shipping.
  7. Auction sale on eBay on August 10, 2003 for $60.10 plus $2.50 shipping of the Ex-Eklund specimen.
  8. Auction sale on eBay on January 8, 2003 for $34.65 plus $1.25 shipping.
  9. Auction sale on eBay on August 28, 2001 for $36.87 plus $4 shipping.
  10. Auction sale on eBay on November 26, 2000 for $31.88 plus $2.50 shipping.
Notes
Notas Históricas

Zubieta & Pasos era uno de los establecimientos comerciales de Culebra, uno de los "pueblos de La Linea" del ferrocarril de Panamá. La seña fue posiblemente acuñada a finales del siglo XIX en U.S.A. por Scovill Manufacturing Co. de Waterbury, Connecticut.