(Orden de Vasco Nuñez de Balboa). Instituted on January 28, 1933. In silver gilt, a four-armed cross with white enamelled arms, featuring a delicate enameled green laurel wreath in each quadrant also in gilt, the obverse with a gilded facing-left portrait of Vasco Nuñez de Balboa, Spanish explorer and conqueror, on a background of white enamel, along with gilded inscription ORDEN DE VASCO NUÑEZ DE BALBOA, presenting plain reverse with a central medallion engraved by a geographic map, surrounded by inscription REPUBLICA DE PANAMA (Republic of Panama), measuring 18.16 mm (w) x 20.63 mm (h - inclusive of the integral ring), with heavily oxidized surfaces, fair.
Footnote: The Order of Vasco Nuñez de Balboa was founded in Panama by Law on January 28, 1933. It was regulated 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.

