500 Córdobas

Nicaragua's 500 Córdoba denomination has always occupied an uncomfortable position in the country's cash economy — high enough to attract counterfeiting pressure, low enough to circulate heavily in daily commerce. The 2006 paper issue preceded the polymer transition that eventually overtook the lower denominations, leaving this series in an increasingly awkward middle ground before its own redesign followed.

Pick 200 was printed by De La Rue. The optical variable device on this denomination was among the more sophisticated security inclusions in Nicaraguan currency at the time of issue.