Established by Law of January 28, 1933, and reformed on July 1, 1941. Of German manufacture, an outstanding enameled white four-armed cross in silver gilt, surrounded by an enameled green and red laurel wreath across the quadrants, obverse centre featuring a superimposed gilded portrait of Vasco Nuñez de Balboa, first European who crossed the Panamanian Isthmus and reached the Pacific Ocean in 1513, on an enameled white background, encircled by his name in gilded lettering, the reverse with a central medallion bearing the inscription REPUBLICA DE PANAMA, together with the Panamanian map, measuring 59.79 mm (w) x 64.17 mm (h - inclusive of integral ball), marked by hallmark denoting .925 silver content, accompanied by original ribbon and rosette, light contact, wearing surface on the reverse, extremely fine condition. The set is contained within a corrugated hard-shelled red case, interior lid featuring label’s maker of C. F. Zimmermann, Germany, on a white-cream silk, with recessed medal bed in black cotton, measuring 72 mm (w) x 25 mm (h) x 124 mm (l), with functional push-button, light contact, extremely fine condition.
Footnote: The Order of Vasco Nuñez de Balboa was founded by Law of January 28, 1933. It was reformed on July 1, 1941. It is currently conferred upon nationals and foreigners in recognition of outstanding diplomatic services and contributions to foster international relationships with Panama.