Republic Of Panama 1975 20 Balboas KM-31 3.8544 Troy Oz Of Sterling Silver (.925). Republic Of Panama 1975 20 Balboas Proof KM-31 3.8544 Troy Oz Of Sterling Silver (.925) At the time, the 20 Balboas were one of the largest silver coins produced. Issued in both proof and uncirculated finishes The coin was struck and packaged by The Franklin Mint under Authorization of the Government of Panama. It comes encapsulated inside original white outer box. The Certificate of Authenticity (COA) is also included. This beautiful 1972 Panama .925 Silver 20 Balboa is the perfect gift for any silver investor who has an interest in South American history. This large-sized 3.854 oz. coin commemorates 150 years of Panamanian independence from Spanish rule as well as commemorating the man who won them their independence, Venezuelan revolutionary Simon Bolivar. The obverse bears a three quarter portrait of Simon Bolivar, the legendary political and military leader who helped Panama to establish itself as a sovereign state, independent of Spanish rule. The coin bears the inscription SIMON BOLIVAR 1783 - 1830 1975 The reverse bears the coat of arms of Panama with the inscription: REPUBLICA DE PANAMA LEY 0.925 · · 20 BALBOAS · ·