Nicaragua - The Land of Lakes and Volcanoes
10 Cordobas 1985 (1988) Issue P151

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Note Details

Set Details

Note Description: Nicaragua, Banco Central
10 Córdobas 1985 (ND 1988)
Grade: 67 EPQ
Country: NIC
Note Number: NIC151
- Wmk: A.C. Sandino
Certification #: 2508294-035  
Owner: Love Collection
Sets Competing: Nicaragua - The Land of Lakes and Volcanoes  Score: 41
Date Added: 6/9/2019
Research: Currently not available

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, FE and the replacement notes were ZA. All of these prefixes could have been used later as an 10,000 cordoba overprint note (p158) as well as the prefixes FF, FG 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 50 million but an unknown quantity was later overprinted.

These banknotes feature designs from previous 20 & 50 Cordoba issues. The obverse features Comandante Carlos Amador Fonseca that had previously been featured on the 1979 Series E and 1984 Series F 50 Cordoba issues. He was one of the founders of the Frente Sandinista and was killed in 1976 3 years prior to the Sandinistas taking power in 1979. The reverse of the banknote features soldiers marching from the Militia of Popular Sandinistas the same as seen on the 20 Cordobas issues from 1979 and 1984 (unreleased).

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