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NGC Expert Comments:
The balboa, named after the famed helmeted explorer and conquistador featured on its obverse, is one of those iconic foreign coins every collector should seek out. Panama in general and the Circulation Issue Coinage, 1904-1962 is a popular, tightly contested area of the NGC Registry. MJS Collection holds the top-ranking set, (as well as second place with a second complete set!) but he competes against five other 100% complete sets and holds only a slim 10% lead. His 1931 balboa is a blast-white beauty and top-pop coin in MS 65. Notably, he has one of seven known 2-1/2 centesimos as most were melted down. Though the coin is non-competitive and does not count toward set completion, it elevates MJS Collection’s set.