20 Balboas Figure 8 Butterfly

Panama's 1981 gold issues were struck under contract by the Franklin Mint during a period when the country was producing an unusual volume of collector-targeted coinage — a revenue strategy that accelerated sharply after the 1977 Torrijos-Carter Treaties transferred Canal Zone jurisdiction and opened new avenues for national image-building. The .500 fineness is deliberately low for a gold issue of this type, keeping material costs down while maintaining the nominal gold designation.

The Figure 8 Butterfly (Heliconius charitonius) is native to Central America and carries biological significance — it is one of the few Lepidoptera known to feed on pollen as an adult, extending its lifespan well beyond that of most butterflies.