20 Balboas Harpy Eagle

Panama's 1985 coinage program included several wildlife-themed gold issues tied loosely to conservation awareness, though the Harpy Eagle series had deeper roots — the bird had been declared Panama's national symbol decades earlier and appeared on official state materials long before coin programs adopted it. The .500 fine gold composition is notably low for a commemorative, reflecting either a cost-containment decision or an effort to hit a specific nominal face value without committing to a heavier fine-gold blank.

KM#102 is not a heavily documented variety, and mintage figures for this issue are inconsistently reported across major references.