Panama, Republic. An Order Of Vasco Nuñez De Balboa, Grand Cross Star, C.1925 certificate_of_authenticity the reverse is plain with

the reverse is plain with two rivet holes

It exhibits a few stains on the bottom edges of the pages

(Unternehmen Merkur Erinnerungsmedaille)

on October 24th

Panama, Republic. An Order Of Vasco Nuñez De Balboa, Grand Cross Star, C.1925 certificate_of_authenticity the reverse is plain with(Orden de Vasco Nuez de Balboa). Instituted 1937. 1937 Present Issue. A fine eight armed star in silver, composed of multiple rays, obverse centrepiece in bronze gilt consisting of an enamelled white four armed cross, surrounded by a detailed laurel wreath in green enamels, centre depicting a superposed bronze gilded bust of Vasco Nuez de Balboa surrounded by the inscription ORDER OF VASCO NUEZ DE BALBOA on a white enamelled background, the reverse