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| 背面描述 | A bold right-facing bust of the Spanish conquistador Vasco Núñez de Balboa dominates the field, portrayed wearing an ornately engraved morion helmet adorned with intricate scrollwork and filigree designs. The explorer is depicted with a full beard and a ruffled collar visible at the neck, rendered in high relief with fine portrait detail characteristic of Franklin Mint craftsmanship. The legend VASCO NUÑEZ DE BALBOA arcs along the upper periphery in raised incuse lettering. The date of issue appears in the lower exergue. |
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| 铸币厂 | Franklin Mint, Wawa, Pennsylvania, United States |
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| 附加信息 |
Panama's silver Balboa was issued alongside a cupronickel version of the same coin — an unusual dual-composition policy driven by the international silver market and demand from collectors rather than any domestic monetary need. The silver strikes were never intended for circulation and were sold directly to the numismatic market, which explains why survivors almost universally appear in unimpaired condition.
The KM#39.1a designation distinguishes the .925 fine silver strikes from the clad business strikes of the same type. Panama's coinage authority relied heavily on the Franklin Mint during this period for collector issues.