This small copper-nickel coin was minted for only one year - 1907, in the Republic of Panama. The obverse features a nice bust of the folk hero Balboa, and the reverse has the inscription 'MEDIO CENTÉSIMO DE BALBOA'. 'Medio' means 'one half', and thus it translates to 'one half centesimo of Balboa'.
Values are decent for nice-looking coins with little wear, while worn coins with a tainted eye-appeal aren't worth much, as outlined below:
worn: less than $1 US dollar approximate catalog value
average circulated: $3
well preserved: $5
fully uncirculated: $20
As a rule-of-thumb, for a coin to qualify as average circulated, the word 'LEY' in the legend 'DIOS LEY LIBERTAD' on Balboa's helmet must be clearly readable.
There is a very nerdy *twist* with these coins. If you look at the date through a magnifying glass, most coins in better condition will show remnants of an older date under the 1907 date. This is because unused dies from earlier years were re-engraved and re-purposed for the coins dated 1907.
However, if you have a coin in excellent condition which clearly shows no trace of an underlying date, even under magnification, then a collector may pay a premium for the coin. Figure an additional $5 or so.
Any coin with heavy scratches, corrosion issues or similar problems will be worth much less than the values stated above.
Our 'Important Terminology' page on the top left will help you figure out the true meaning of the catalog values listed on this page.