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20 Balboas version B

Issuer Panama
Year 2014
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Size 122 x 66 mm
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Reverse description Central vignette portrays an Emberá archer drawing his bow, with a figure paddling a traditional pirogue in the background. The composition is rendered in a classical intaglio-style engraving. Bilingual denomination inscriptions and disclaimer legends frame the design.
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Protection description Ypsilon (Y-shaped) pattern watermark
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Comments

Panama has used the U.S. dollar as its de facto circulating currency since 1904, which makes any Panamanian banknote something of a paradox — legal tender in name, but rarely encountered in everyday transactions where dollar bills dominate entirely. The Balboa exists almost as a ceremonial assertion of national currency rights, and higher denominations like this 20 Balboa note circulate in genuinely limited quantities.

Matej Gabris is a Slovak engraver whose work appears across multiple central bank commissions; his involvement here points to an international contract issue rather than domestic production, though confirmed printing attribution for this series is not widely documented.

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