Pre-Panama tokens/coins

I accquired a bag on token recently and found this in it . I googled Antonio Zubiata And found this link. Token #PT 700.05 at botton of this page.
http://www.coins-of-panama.com/panamatokens-p6.html And then this page.
http://www.coins-of-panama.com/panamatokens/pt700-05.html And the token.
Does anyone have any knowledge of these tokens. Or of the Pre-Panama coinage and tokens in general. I would be very interested to hear any. Thank-you.

 

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Here ya go

 

Thank-you. Is that from the Standard Catalog of World Coins?

 

VALE means IT'S WORTH

CULEBRA means SNAKE.. probably referring to this place located in Panama
https://en.wikipedia.org/wiki/Culebra_Cut

 

Thanks for you input. Interesting Information.

 

No, the Krause Latin American Token book.

 

Thank you ever so much.