1/2 Balboa Pattern, Uniface Reverse, Piefort

Panama's 1982 coinage patterns were produced in connection with ongoing discussions about the country's relationship with its circulating currency, much of which remained the U.S. dollar in practical everyday use. Piefort patterns in gold from this period are vanishingly rare — struck at double the normal planchet thickness, they were never intended for circulation and exist almost entirely as presentation or archival pieces.

The uniface reverse — blank on one side — suggests this was a trial of the obverse die only, not a complete design proof. At .400 fine, the gold alloy is notably low for a presentation piece.