Watch List notes:

Panama, 1/4 balboa, 1932, encapsulated NGC MS 65, finest known in NGC census, ex-Whittier. KM-11.1. Well-centered and strongly struck coin with bold luster, small carbon spot below A in BALBOA, light gold and purple toning. NGC certification number 2803604011. Pedigreed to the Whittier collection. ($700-1000)