Watch List notes:

PANAMA. El Banco Central De Emision de La Republica De Panama. 1 Balboa, ND. P-22a.
This is a beautiful 1941 Panama 1 Balboa note graded 55 About Uncirculated by PMG. The PMG Census records just 72 known with only seven finer. Exhibiting just two folds, the note carries an estimate of $2,000 to $3,000.

The motif on the front is of Vasco Nunez de Balboa, Spanish born explorer and conquistador who was among those who established Darien, Panama. He served as interim governor and also was the first European to see the Pacific Ocean in 1513.

The denomination itself is named after Balboa. To our knowledge, this is the only form of currency named after a specific person. The value of 1 Balboa breaks down into 100 Centesimos and has carried a foreign exchange rate equivalent to the U.S dollar since it replaced the peso in 1904. Minor rust on the back prevents a EPQ designation, but everything else about the note seems fully original.

PMG About Uncirculated 55.

Estimate: $2000.00- $3000.00