Green’s Dictionary of Slang

(drugs) a variety of marijuana, grown in Panama.

1966		Wash. Post 21 Aug. E1: The best pot is supposed to be Acapulco Gold. Panama Red is good and so is Chicago Green.
1969		R.R. Lingeman Drugs from A to Z (1970) 201: Panama (Panamanian) gold [...] Local variety of marijuana grown in Panama.
1970		G. Scott-Heron Vulture (1996) 12: You int’rested in some good Red? [...] Panamanian Red.
1971		T. Gunn ‘Street Song’ in Oxford Bk Contemp. Verse (1980) 215: You cannot guess the weed I hold, / Clara Green, Acapulco Gold, / Panama Red, you name it man.
1976		R. Sabbag Snowblind (1978) 37: Panama is getting very expensive.
1980		E. Folb Runnin’ Down Some Lines 170: Stronger mixtures like [...] Panama red, Acapulco gold, Mexican green.
1999		T. Dorsey Florida Roadkill 33: The best drugs from four counties: [...] Panama Red, Acapulco Gold, blue cheer, orange sunshine.
2001		ONDCP Street Terms 16: Panama cut [...] Panama gold — Marijuana.
2002		T. Dorsey Triggerfish Twist (2002) 341: Coleman has a hundred dollars of Panama Red and starts smoking at three o’clock.
2010		(con. 1973) C. Stella Johnny Porno 95: She hooked him up with an ounce of Panama Red.