This Nicaraguan banknote represents the 2nd denomination of the Second Córdoba Overprint (Series 1990). Similar to the previously issued First Córdoba Overprint. These notes served as an emergency measure. As rapid hyperinflation made the previous First and Second Córdoba nearly worthless. The Second Córdoba was short-lived, circulating from 1988-1990.
The overprint notes were issued in 2 series, in 1988 and 1990 respectively. They circulated alongside standard Second Córdoba banknotes, issued in 1989 and 1990. In 1991, the Second Córdoba was replaced by the current 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),"500,000 Five Hundred Thousand". The original text for "20 Córdobas" can faintly be made out beneath. Unlike the previous First Córdoba Overprint, there is no upper-left stamp. These text stamps featured a pair of directive and resolution dates, meant to override the note's original.
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-right of the header is an overprint, it reads "BCN" followed by a signature. BCN simply being the initials of the Central Bank of Nicaragua. A second overprint at the note's watermark area represents the (trans.) the BNC "Vice President".
Below the word "Banco", is the note's serial number "FF 4041531". 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 by previous prints of this note, which read "Thomas De La Rue And Company Limited".
While not all De La Rue printed banknotes explicitly state their printer. 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 transitions. Such work requires a great deal of skill, far beyond the level of most counterfeiters.
Returning to the footer, there are 2 separate signatures. They are the (trans.) "Central Bank President" and the "Minister of Finance". If one closely inspects the footer they will notice microprint. In addition to the footer "scribble" pattern, is the underprint's "quilt" 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. These overprints differ from previous First Córdoba Overprint. As rather than featuring the initials "BCN", they are simply used to cover the note's original face value.
Reverse
The reverse depicts Bernardino Diaz Ochoa's march for agrarian reform. A banner is held by peasant farmers, it reads (trans.) "We are not fish to live from the sea. We are not birds to live off the air. We are men to live off the land". Some of the farmers wield machetes, used to cut sugar cane. In Latin America, machetes are seen as a tool of populist uprising.
At the note's center is a second large stamp, similar to the observe. It also reads (trans),"500,000 Five Hundred Thousand". A large number "20" can faintly be seen beneath, while the text (trans)"Twenty Cordobas" has been covered, 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 overprinted.
Additional Notes
This note size is 155 x 74 mm or 6.10 x 2.56 in, slightly thinner than a US Dollar.
The preferred method to preserve this note are standard size protective sleeves.
The Second Cordoba ISO 4217 code was NIC, it uses C$ as its official symbol.
The Second Cordoba was the only Cordoba variant to use a different ISO code.