25 Centavos

Nicaragua redenominated its currency in 1991, replacing the devastated córdoba at a rate of 5,000,000 to 1 following years of hyperinflation driven by Sandinista-era deficit spending and the costs of the Contra war. The brass-plated steel construction adopted for this series reflects the country's continued fiscal conservatism in the post-stabilization decade — solid metal coinage remained an expense worth minimizing.