Catalog
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| Issuer | Panama |
|---|---|
| Year | 2016 |
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| Value | 20 Balboas |
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| Obverse description | The Panamanian coat of arms occupies the central field, rendered in high relief against a mirror-polished background with selective gold plating on the outer ring. The shield displays the national quarters including the isthmus, tools of labor, a cornucopia, and a winged eagle displayed above. Nine stars arc above the arms within the inner circle. The legend REPÚBLICA DE PANAMÁ runs along the upper periphery, and the date 2016 appears in the lower exergue, both lettered in gold-plated relief. |
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| Edge | Reeded |
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| Additional information |
Panama's centennial commemorative program has produced some genuinely overcrowded designs, but this issue marks the 2016 centenary of the Canal's formal opening to commercial traffic — an engineering project that killed an estimated 25,000 workers during the French phase alone, before the United States resumed construction in 1904. The balboa denomination itself was pegged one-to-one with the U.S. dollar at inception and has never floated independently.
The .9999 fineness is notably purer than the traditional .925 standard for commemorative silver, a deliberate specification choice by the issuing authority.