1/10 De Balboa Pattern, Uniface Reverse, Piefort

Piefort patterns of this type were struck by the Casa de Moneda de México on behalf of Panama, which has never operated its own mint. The uniface reverse — a blank, unworked planchet face — distinguishes this from the standard pattern issue and points to an early-stage die trial rather than a presentation piece intended for approval. The .400 fine gold composition is atypical for a country whose circulating coinage at this time was largely dependent on imported U.S. coin stock, and suggests the piefort was exploratory rather than tied to any genuine reform proposal.