Panama (struck at the Philadelphia mint), 50 centesimos de Balboa, 1905, encapsulated NGC MS 64, ex-Richard Stuart (stated inside slab). KM-5. Highly lustrous, starting to tone, minimal bagmarks, scarcer date of a two-year series, this specimen tied with one other for second finest known in NGC census. NGC #4427874-006. Pedigreed to the Richard Stuart collection. (Estimate: $500 - 700)