Panama 5 Centésimos de Balboa Stamp – Coat of Arms – Early Issue – Used

A used stamp from the Republic of Panama, featuring the national coat of arms with an eagle, shield and decorative scrollwork, alongside a large ornamental letter ‘P’ monogram. The inscription reads CORREOS REPÚBLICA DE PANAMÁ, 5 CINCO CENTÉSIMOS DE BALBOA. Printed in dark navy blue.

Denomination: 5 centésimos de Balboa. Country: Republic of Panama. Period: Early 20th century (circa 1904–1920). Condition: Used, with a faint purple postmark visible at top. Perforations present on all sides, some unevenness. A fine early Panamanian stamp ideal for Latin American or world thematic collections.