1 Balboa, Panama

Armoured bust with helmet of Vasco Nez de Balboa facing left in the center, surrounded by his name and the date in the ring.

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Coat of arms with 9 or 10 stars above. Name of the country above and value in letters below in the ring.

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2 small reeded sectors superimposed to the lettering: PANAMA 1 BALBOA. Exists in both directions, readable obverse up or reverse up.