Panama issued 2 1/2 centesimos coins in copper-nickel with the denomination (DOS Y MEDIO) written plainly on the reverse side in 1929 and again in 1940. The portrait, presumably of Balboa, is different on the two coins, but the inscriptions are the same. Balboa was a Spanish explorer, governor, and conquistador best known for crossing the Isthmus of Panama to the Pacific Ocean in 1513, becoming the first European to reach the Pacific Ocean from the New World.
Value-wise, both the 1929 and 1940 issues carry low value in circulated condition, although the 1929 coin is the more valuable of the two.
Here are some approximate catalog values for CJB's 1940 coin. If you have a well preserved or uncirculated 1929 specimen, double these values.
worn: $1 US dollar approximate catalog value
average circulated: $3
well preserved: $7
fully uncirculated: $25
Apply the corrections shown on our Important Terminology page to covert these inflated catalog values to actual buy and sell values.