Coat of Arms with 9 stars above, value and erroneous mention of a silver content below.
Obverse script
Latin
Obverse lettering
REPUBLICA DE PANAMA
*********
PRO MUNDI BENEFICIO
LEY 0.925
· · 1 BALBOA · · (Translation: Republic of Panama For the Benefit of the World 0.925 Purity)
Reverse description
Portrait of Vasco Núñez de Balboa with helmet 3/4 left surrounded by his name, date below.