1 Balboa Santa Ana Church

Panama's 1 Balboa bimetallic series, launched in the 2010s, was designed to replace the country's longstanding reliance on circulating U.S. dollar coins — Panama has used the dollar alongside the Balboa at par since the Hay-Bunau-Varilla Treaty of 1903 effectively handed monetary policy to Washington. The Santa Ana Church in Panama City, one of the oldest surviving colonial religious structures in the Americas, anchors this issue in the Casco Viejo district, a UNESCO World Heritage Site since 1997.

KM#166 is part of a rotating architectural series; individual issues see limited secondary market movement given ongoing production and wide circulation.