Panama, Republic. An Order Of Vasco Nuñez De Balboa, Iv Class Commander Auction and Victory Loan Bond to

and Victory Loan Bond to be registered in his widow's name

fronted by a large 7th Regiment Bersaglieri cap badge

illustrating a lion and unicorn flanking a shield inscribed "ESTABLISHED 1881" coat-of-arms above

the front right paw gripping the shaft of the fasces

Panama, Republic. An Order Of Vasco Nuñez De Balboa, Iv Class Commander Auction and Victory Loan Bond to(Orden de Vasco Nuez de Balboa). Instituted in 1941. Four piece construction, in bronze gilt with white, red and green enamels, unmarked, measuring 58 mm (w) x 61. 8 mm (h) inclusive of its laterally pierced ball suspension, chipping and loss evident in the green enamels on the wreath at the upper left, the remaining enamels intact, on its full length original neck ribbon, better than very fine. In its hardshelled case of issue, brown pebbled