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1 Balboa
| Issuer | Panama |
|---|---|
| Year | 1981-1982 |
| Type | Non-circulating coin |
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| Composition | Log in to see details |
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| Obverse description | The national coat of arms of Panama occupies the central field, depicting a shield divided into quarters with a fasces, sword, and other national symbols, flanked by two cornucopias and surmounted by an eagle. Nine five-pointed stars arc above the arms. The legend REPUBLICA DE PANAMA curves along the upper periphery, while the inscription PRO MUNDI BENEFICIO appears on a scroll or banner within or below the arms. The value 1 BALBOA and the silver fineness LEY 0.500 are inscribed in the lower portion of the field, along with the Franklin Mint's FM mintmark. |
|---|---|
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| Reverse description | A three-quarter left-facing portrait bust of the Spanish conquistador Vasco Núñez de Balboa, helmeted, is rendered in high relief at the center of the field. The legend VASCO NUNEZ DE BALBOA curves along the upper periphery, identifying the subject. The date appears in the lower exergue or field below the portrait. |
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| Additional information |
Panama's balboa has never physically existed as an independent currency in any meaningful sense — the country has used U.S. dollars for nearly all transactions since the Hay-Bunau-Varilla Treaty of 1903 tied the new republic's monetary system directly to American currency as a condition of canal zone arrangements. The balboa coin exists largely as a sovereignty gesture, struck in quantities calibrated more for collectors than commerce.
The .500 fine silver composition of this particular issue reflects a deliberate downgrade from earlier 0.900 fine strikes, a change made as silver prices climbed sharply through the late 1970s.