1/2 Balboa Pattern

Panama's 1988 pattern issues emerged during one of the most turbulent periods in the republic's monetary history. By that year, the Noriega government was under crushing U.S. sanctions that had effectively frozen Panamanian government accounts abroad and strangled the public treasury — regular coin production through the usual channels was severely disrupted.

KM#Pn11 was never approved for circulation. Whether this pattern was struck domestically or contracted abroad under those constrained conditions remains unclear in the literature.