Nicaragua - The Land of Lakes and Volcanoes
20 Cordobas 1985 (1988) Issue P152

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Note Details

Set Details

Note Description: Nicaragua, Banco Central
20 Córdobas 1985 (ND 1988)
Grade: 66 EPQ
Country: NIC
Note Number: NIC152
Signatures/
Vignettes:
- Wmk: A.C. Sandino
Certification #: 2507774-004  
Owner: Love Collection
Sets Competing: Nicaragua - The Land of Lakes and Volcanoes  Score: 37
Date Added: 3/1/2019
Research: See PMG's Census Report for this Note

Owner's Description

These new issue notes were part of the then Sandinista covert Central Bank operation called Bertha (Operacion Berta), this was in part to help stem the problem of hyper inflation but was also a huge blow to those that held the old currency particularly those in business or had farms and dealt with large sums of cash. These notes are dated 1985 but weren't actually introduced into circulation until the president announced a decree demonetising the old Cordoba on a Sunday which happened to be Valentines Day 14th of February 1988. The general public only had 3 days in which to change over the old currency at official change tables set up throughout the country. The exchange rate was set at 1000 old cordobas for 1 new cordoba and there was a maximum of 10,000,000 old cordobas that could be exchanged per person or business entity. Those that held more than that amount were left with worthless pieces of paper that could be surrender to the central bank for nothing or could be kept as souvenirs, I recall reading a story that some business owners actually got together and had organised a bonfire to burn the old currency!

These notes that were issued have several different prefixes from FA, FB, FC, FD and the replacement notes were ZA. None of these prefixes were used for a 500,000 cordoba overprint note (p163) only unused prefixes FE, FF and ZB (replacement notes). I don't have any information on how many were produced but its quite possible there was up to 10,000,000 for each prefix (as I have seen serial numbers from 0-9) so quite possibly up to 40 million were produced and issued.

These banknotes feature designs from previous 20 Cordoba issues. The obverse features Commander German Pomares Ordoñez a revolutionary and considered a national hero. He was one of the founders of the Frente Sandinista (FSLN), he fought against the ruling Somoza government and was killed only months before the Sandinistas claimed victory. The reverse of the banknote features a demonstration on agrarian reform with a banner that translates to "We are not birds to live off the air, we are not fish to live off the sea, we are men to live off the land".

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