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Note Details

Set Details
Note Description: Nicaragua, Banco Central
500 Córdobas 1985 (ND 1988)
Grade: 66 EPQ
Country: NIC
Note Number: NIC155
Signatures/
Vignettes:		 - Wmk: A.C. Sandino
Certification #: 2507771-097  
Owner: Love Collection
Sets Competing: Nicaragua Complete Set # 2  Score: 119
Date Added: 6/9/2019
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 only a couple of different prefixes FA & FB and the replacement notes were ZA. 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 20 million were produced and issued.

The obverse of the poet as well all previously issued 500 Cordoba banknotes features the portrait of legendary poet Ruben Dario. This would be the last 500 Cordoba banknote he would be featured on as he later is seen on the 100 Cordobas notes from 1990 onwards. The obverse of the note shows a teacher in a classroom full of children with the title "Campaña Nacional de Alfabetizacion" or the National Campaign of Alphabetisation. The blackboard displays words that were used in Sandinista government propaganda at the time:
SANDINO VIVE
Sandino vive

NO PASARAN
No pasaran

LUCHAMOS
PARA VENCER

in English:
SANDINO LIVES
Sandino Lives

THEY SHALL NOT PASS
They shall not pass

WE FIGHT TO WIN

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