1/4 Balboa Pattern

Panama's 1987 coinage patterns were produced as the country evaluated circulating coin designs ahead of expected monetary reforms — reforms that were soon overtaken by the political crisis surrounding Manuel Noriega and the U.S. economic sanctions imposed in 1988. The sanctions froze Panamanian government assets and effectively paralyzed normal currency operations, making any new circulating issue a practical impossibility for years.

KM#Pn7 almost certainly never progressed beyond a handful of struck examples.