This is an old 1950 license plate (# 15175) from the Panama Canal Zone. This plate is in very good condition for its age. The paint has several small rust spots where the paint is worn off on the front. No rust spots on the rear. Most of the paint on other 1950 CZ plates is deteriorated, but this one looks much better so it is possible that this plate was restored at one time. It still looks very nice and it would display well on a wall or a vintage vehicle.