V.n. Balboa

"VN" isn't an abbreviation. The "V" is really a "U", and "un" is Spanish for "one".

Long before the Italian Fascist Party twisted it for their own ends, the fasces was long used as a symbol of the authority of the government to write laws for it's citizens, and to punish those who choose to break those laws.

The fasces was a badge of the ancient Roman Republic, and can be found on ancient Roman coins, like this one. The bundle of thirty rods symbolized the right of the state to apply corporal punishment, and the constraints on that punishment (thirty beatings with rods was the maximum corporal sentence allowed under Roman law). The axe symbolized the right of the state to apply capital punishment (Roman citizens were executed by beheading).

As for other countries that have used it, there are numerous, though more commonly found before WWII than after it. Mussolini's Italy, of course, is one of only a few monarchies to adopt it. Revolutionary France replaced the royal coat of arms with the fasces, a design copied by the rebels on Haiti. On the coins of French Indochina, Lady Liberty holds it high. The Swiss canton of St Gall has it on their coat of arms.

Several other Latin American countries employ it on their coins, too: most notably, Cuba (where it hides behind the coat of arms); some early Columbian coins have it, and even some post-Empire Mexican coins.

The United States minted those coins for Panama also. Their unit of currency was based on the US dollar. So their coins are the same size and weight as the American coins. A medio balboa is equivalent of a US half dollar.

I don't have a Balboa, just 2 decimo Balboas (10c), 1 quartro Balboa (25c), and a medio Balboa.

Acidic1,

Not sure if you got your answer on this one but the composition is actually silver clad (about 40% silver) with a total silver weight of .1608 oz.

Also if you are interested in a KM# it is KM#12a.1 and the mintage of proofs for that year was limited to 13,000.

Regards,
Ken

P.S. I recently bought a 1933 1/2 Balboa with the same design as your 1966