Panama 1977 1 Balboa, Struck by the Franklin Mint, Rare Specimen Strike and no Matte or Specimens set struck. NGC 63, Low Mintage 625, Few Released, I Estimate Less Than 50 pcs. Population 2, This and one Higher.
 
Extremely Rare 1977 Specimen Strike Balboa with a recorded mintage of 625, but I would estimate less than 50 coins released to the public. 1977 is extremely rare since no Specimen sets were created and looks like the 1977 coins were not released to the Panama Bank to issue sets for that year. I have seen 1975, 1976, 1978, 1979, 1982. No 1977, 1980 or 1981, Making this 1977 Balboa extremely rare. A very rare coin and a nice addition to your collection.