Looks like a button. Looks like a coin.

[large cent hunter]

I found this today on land that was once the town farm, about 3"-4" below the surface. It says "BALBOA" and has two wheat stalks beside a profile of Balboa. Judging by the deterioration, I would guess the age to be about 80-100 years, and is made of copper.
Any ideas

 

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[diggummup]

Check this out-http://www.coins-of-panama.com/fakes/fk100-1.html

 

[Evolution]

It's a Panama coin alright. here is an example of a Panama Dime.