Nicaragua Complete Set # 2
1 Million Cordobas On 1000 Cordobas 1990 ND Provisional Issue P164

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Note Details

Set Details

Note Description: Nicaragua, Banco Central
1 Million Córdobas on 1000 Cór. 1985 (ND 1990)
Grade: 63 EPQ
Country: NIC
Note Number: NIC164
- Ovpt. on
Certification #: 1858166-006  
Owner: Love Collection
Sets Competing: Nicaragua Complete Set # 2  Score: 24
Date Added: 10/19/2019
Research: See PMG's Census Report for this Note

Owner's Description

These 1,000,000 Cordobas overprint notes were printed over the 19885 (1988) 1000 Cordobas (P156b) banknotes. And just like the previous 200,000 Cordobas overprints they were from the same batch of uninssued notes from the last prefix (FC). They mark a milestone for Nicaragua as far as having very large denomination banknotes and two more larger denomination notes shortly followed this one. It was at the peak of the hyper inflationary years where the official exchange rate had gone from 10:1 (10 Cordobas to 1 USD) to well over a 1 million:1 in just over two years.

I am unsure of how many banknotes were overprinted.

The 1000 Cordoba banknotes were similar to the previous issues however they have changed colour from a greyish/blue to more of a brown with pink the obverse pay homages to revolutionary leader Augusto César Sandino, the rebellious guerrilla leader that fought against the United States involvement and military presence in Nicaragua. He was later executed at the hands of the national guard under orders of General Anastasio Somoza who would later become president and dictator of Nicaragua.

The Sandinistas later adpoted his name for their political party and his famous wide brimmed hat and portrait are widely used in their political propaganda and was also featured on the reverse of the coins issued during the 1980s whilst the Sandinistas were in power.

On the reverse of the banknote is a scene depicting the day of liberation (dia de liberacion) on the 19th of July 1979 showing a large crowd of Sandinista sympathisers celebrating in front of the Cathedral in Managua.

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