This Nicaraguan banknote represents the 1st denomination of the First Córdoba Overprint (Series F, 1987). This special series of the First Córdoba features overprinted "stamps". These overprinted notes served as a stop-gap for the introduction of the Second Córdoba (dated 1985), in 1988. As rapid hyperinflation made the First Córdoba nearly worthless.
The overprinted stamp (in this case) revalues the note from 20 to 20,000 Córdobas. While this revaluation is done by simply by multiplying the original value by a factor of 1,000. Some overprint denominations feature some notably odd adjustments. Such as 500 Córdoba notes revalued to an impressive 1,000,000 Córdobas.
Notably inflation continued to worsen, leading to the introduction of Second Córdoba. These overprinted Second Córdoba were issued in 2 series, in 1988 and 1990 respectively. Which were quickly made obsolete, by the 1991 adoption of the Third Córdoba (Córdoba Oro).
Observe
The observe features a portrait of FSLN (Sandinistas) Comandante German Pomares Ordonez (1937-1979). Known as the "El Danto" (The Tapir), German Ordonez commanded Sandinista forces against the Somoza Family regime. He was mortally wounded during the Battle of La Cruz Hill (22 May 1979), dying 2 days later. Mere months before the FSLN victory, on 17 July 1979. A watermark of Augusto Sandino appears opposite of the portrait.
Moving towards the notes center is the primary "stamp". Its Spanish text reads (trans),"20,000 Twenty Thousand". The original text for "20 Córdobas" can be made out beneath. While the original "2 July 1984" and "6 August 1984" directive and resolution dates remain. They are superseded by the 6 and 11 August 1987 order, located at the upper left of the stamp.
The note's header reads the (trans.) "Central Bank of Nicaragua", it rests above intricate "flag" patterns. Which lay on a diamond underprint. To the lower left of the header is an indicator this is a "Series F" note, being 1984 issue. There is a second indicator to the left of the portrait.
Below the word "Nicaragua", is the note's serial number "14925411". Notably this header serial number is the first of a dual-serial. The second serial number being located on the note's footer. Twin serial numbers were a hallmark of De La Rue printed notes of this period. Which is confirmed at the lower left, which reads "Thomas De La Rue And Company Limited".
Not all De La Rue printed banknotes explicitly state this. Although notes featuring similar appearing underprints, guilloché patterns, and dual serial numbers. Are more often than not, De La Rue printed notes. One may not notice the underprints seamless color transition. Such work requires a great deal of skill, far beyond the level of most counterfeiters.
Returning to the footer, there are 3 separate signatures. They are the "Minister of Finance", the "Central Bank President", and "Central Bank Vice President". If one closely inspects the footer they will notice microprint. In addition to the footer relatively noticeably "chainmail" pattern, is the underprint's "scale" pattern. The watermark area also features microprint, in the form of angled lines.
As a final measure all refences to the note's original "20" Córdoba value have been overprinted, by "BCN" stamps. BCN referring to the "Central Bank of Nicaragua". This denomination is notable for its stamps lacking backings. This makes reading the note's original face value more difficult.
Reverse
The reverse depicts depicts the Sandinista People's Army, during marching drills. After gaining control of Nicaragua, the FSLN disbanded the Samosa-era Guardia Nacional (National Guard). The FSLN own forces were used to form a replacement the Ejército Popular Sandinista (Sandinista People's Army). With Soviet assistance became the best equipped force in Central America.
At the note's center is a second large stamp, similar to the observe. It also reads (trans),"20,000 Twenty Thousand". A large number "20" can be seen beneath, while the text (trans)"Twenty Cordobas" remains uncovered, at the lower-left. Just as observe the header reads the "Central Bank of Nicaragua". Below is a pair of patterns, similar to the observe.
When back lit the reverse forms the positive for the note's registration element. Completing gaps with in the observe pattern. Each side has a unprinted negative and printed positive. When placed over bright light, each side's positive fill these gaps, completing the light puzzle effect.
Just as the observe all references to the note's original "20" Córdoba value have been partially overprinted. Again using "BCN" stamps as references to the "Central Bank of Nicaragua".
Additional Notes
This note size is 156 x 67 mm or 6.14 x 2.64 in, similar to a standard US Dollar.
The preferred method to preserve this note are standard size protective sleeves.
The First Cordoba ISO 4217 code was NIO, it uses C$ as its official symbol.
The Second Cordoba was the only Cordoba to use a different ISO code, NIC.