Arms of Panama with 9 stars above representing the nine provinces at the time (there are now ten) along with the country name above, silver content on both sides, date below.
Obverse script
Latin
Obverse lettering
REPUBLICA DE PANAMA
PRO MUNDI BENEFICIO
LEY GR.
0.900 2.50
1953 (Translation: Republic of Panama For the Benefit of the World 0.900 Purity 2.5 Grams)
Reverse description
Armoured bust of Vasco Núñez de Balboa, a Spaniard and the first European who crossed the Isthmus reaching the Pacific by land and the first to discover the Perlas Archipelago in 1513, with the value above
Reverse script
Latin
Reverse lettering
UN DECIMO DE BALBOA
*CINCUENTENARIO* (Translation: One tenth of a Balboa 50th anniversary)