At just 10mm in diameter it is a whole 4mm smaller than a U.S. Coin silver three cent coin. It's diminutive size has even earned it the nickname “the Panama Pill” and once you see this one in your hand it's not that hard to see how it got its nickname.
Made of 90% silver and issued for just one year, Panama would re-introduce the diminutive coin from 1975 to 1985 but with a different composition. Considering how small these are, one can only imagine how easily these coins are lost in your pocket change. Why would anyone in modern times issue such a coin for circulation and for 10 years no less?
The obverse design features the portrait of Vasco Nunez de Balboa facing left and on the outer periphery are the words “REPUBLICA DE PANAMA” and the year of issue.
The reverse design features the Panama Coat of Arms. On the outer periphery are the words “DOS Y MEDIO CENTISMOS DE BALBOA” as well as the coin weight & silver fineness “0.125 LEY 0.900”.
General Market Notes
Though only 400,000 coins were minted many were saved helping to keep costs reasonable.