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25 Cents Fort Clayton; Canal Zone

Issuer Panama Area Navy Canteen Organization (P.A.N.C.O.)
Year 1963-1969
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Size 51 x 23 mm
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Obverse description Orange card stock printed in black letterpress; issuer inscription and denomination arranged in two panels separated by a vertical rule. A red serial number appears in the lower left field. The note carries a perforated punch pattern across the surface. Lower-left corner bears a cancellation warning in small type.
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Reverse description Plain orange card stock, blank save for a centrally positioned perforated numeral '2' formed by punched holes, with a second grouping of punched holes to the right, likely a control or cancellation device.
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Protection type Perforation
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