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Black on green underprint. An oval vignette at left contains an allegorical portrait of Liberty, a laureate female figure in three-quarter view. The denomination numeral '10' appears in each corner, with a large guilloche-framed numeral at center-right flanked by intricate lathe-work. Legal tender text and the promise-to-pay clause are printed in two blocks of small letterpress text, with two manuscript signature lines above the bold legend 'VALE POR DIEZ CENTAVOS DE CÓRDOBA'. The series date 'SERIE DE 1938' appears vertically at right, and the serial number is printed in a guilloche band along the lower portion. |
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Printed in green. The central vignette presents the Nicaraguan Coat of Arms — an equilateral triangle enclosing five volcanoes rising from the sea beneath a Phrygian cap on a pole and a rainbow — set within an elaborate surround of interlocking guilloche scrollwork. Denomination numerals '10' appear in ornate cartouches at each corner, and the Roman numeral 'X' is placed at lower left and lower right. The bank name arcs across the top in bold serif lettering, with the denomination legend 'DIEZ CENTAVOS DE CÓRDOBA' across the bottom and the printer's imprint below. |
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The Banco Nacional de Nicaragua occupied an unusual institutional position — simultaneously functioning as the country's central bank and a commercial lending operation well into the mid-twentieth century. This 10 Centavos fractional note was issued during a period when Nicaragua's coinage supply was persistently inadequate for small transactions, forcing the bank to paper over the gap with low-denomination notes that most central banks would never have bothered printing.
Hamilton Bank Note Company handled a substantial share of Latin American security printing during this period, though they remain considerably less documented in philatelic literature than contemporaries like American Bank Note or Waterlow.