Nicaragua - The Land of Lakes and Volcanoes
1 Cordobas 1934 ND Revalidation P71

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Note Details

Set Details
Note Description: Nicaragua, Banco Nacional
1 Córdoba 1932 (ND 1934) - Printer: ABNC
Grade: VF 35
Country: NIC
Note Number: NIC71
Signatures/
Vignettes:		 - Ovpt. on Nicaragua#63a
Certification #: 1744144-040  
Owner: Love Collection
Sets Competing: Nicaragua - The Land of Lakes and Volcanoes  Score: 527
Date Added: 10/30/2019
Research: See PMG's Census Report for this Note

Owner's Description

With these re-validated notes from 1934 Luis Flores mentions in his book that the loss of an unknown quantity of paper notes had forced the government to recall the circulating currency to be counted and re-validated with the word REVALIDADO in red ink across the face of each note. I had also read somewhere of a theft of some of these notes but I can't find any further information to back this up, maybe this was just the same information that was lost in translation from Spanish to English (perdida = loss could have been translated to theft).

The executive decree # 2 from the 3rd of January 1934 says that a large amount of time has past since the emission and circulation of the banknotes from the Banco Nacional de Nicaragua, Inc currently circulating. And during this time an unknown quantity of notes have been lost or destroyed and it is necessary to know exactly how many notes were lost to organise replacements and to know precisely how many are still circulating.

For me I take it that the Bank had poor record keeping or possibly had lost the records as to how many notes had been destroyed for being unfit for circulation. Only a few months later they did the same thing with circulating 50 Centavos coins, that were to be surrendered and exchanged. They were then released for circulation the following year in 1935.

The population that held banknotes had from the 10th of February to the 31st of May 1934 in order to exchange their existing banknotes for the new re-validated ones. And from the 10th of June existing banknotes could no longer circulate. There were also provisions that allowed banknotes to be exchanged after this period.

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