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200 000 Cordobas overprinted on 1000 Cordobas
| Issuer | Banco Central de Nicaragua |
|---|---|
| Year | 1990 |
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| Composition | Log in to see details |
| Size | 156 × 67 mm |
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| Obverse description | Intaglio portrait of General A. C. Sandino to the right, wearing his characteristic wide-brimmed hat, with caption beneath. A large black overprint reading '200,000' and 'DOSCIENTOS MIL CORDOBAS' is applied centrally over the original guilloche underprint of the 1,000 Córdobas base note. Denomination numerals appear in ornate vignettes at each corner, with two signatures and their titles along the lower margin beneath the central overprint block. |
|---|---|
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| Protection type | Watermark |
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| Comments |
Nicaragua's hyperinflation in the late 1980s made overprinting the only practical option — printing entirely new denominations would have lagged hopelessly behind the cordoba's collapse. By 1990 the official exchange rate had deteriorated so severely that 200,000 cordobas represented what 1,000 had been only a short time before, a ratio that tells the story of the Sandinista government's monetary crisis more bluntly than any economic history could.
The overprint series, of which P#162 is a part, was itself short-lived. The cordoba oro replaced the original cordoba in 1990 at a conversion rate of 1 to 1,000,000, rendering the entire inflated overprint sequence obsolete almost immediately after issue.