Watch List notes:

Panama. AR 50 centesimos (36.2 mm, 24.96 g, 6 h). 1904. REPUBLICA DE PANAMA, 1904, DIOS LEY LIBERTAD, BALBOA, armored bust of Balboa left / CINCUENTA CENTESIMOS DE BALBOA G.25.LEY 0.9000, coat of arms. KM 5. gVF, toned.