½ Balboa, Panama

The armoured bust with a helmet of Vasco Nez de Balboa, a Spaniard, the first European who crossed the Isthmus and reached the Pacific by land, and the discoverer of the Perlas Archipelago (1513), facing left surrounded by value in letters and wreath, with the bust touching the rim below

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The Panamanian coat of arms with 9 stars above representing the 9 provinces with the country name above, the silver content on sides, in a wreath with the date below

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Reeded