| Obverse description |
The national coat of arms of Panama is centrally displayed, featuring a shield divided into quarters with a sword, rifle, cornucopia, and tools, surmounted by an eagle and flanked by nine stars. The legend REPUBLICA DE PANAMA arcs above the arms, while the fineness LEY 0.500 and mint mark FM appear below the shield. The denomination 20 BALBOAS is inscribed along the lower rim, and the patriotic motto PRO MUNDI BENEFICIO appears on a ribbon across the shield. All lettering is rendered in Latin script within a plain field. |
| Reverse description |
A fully armored equestrian figure of Simón Bolívar, El Libertador, is depicted in bold relief at center, mounted on a rearing horse facing right and surrounded by the national flags of the six nations he liberated. The names COLOMBIA, PANAMA, VENEZUELA, PERU, BOLIVIA, and ECUADOR are inscribed around the central design in association with their respective flags. The legend EL LIBERTADOR arcs prominently across the upper field, celebrating Bolívar's historical role. The year of issue, 1981, appears in the exergue at the bottom of the design. The composition is rendered in a detailed, high-relief artistic style characteristic of Franklin Mint commemorative issues. |
