1 cordoba 1951

Common. The eBay market data provided shows UNC examples selling for approximately $35 (2012 auction), with VF specimens regularly transacting in the $5–$15 range and F grade notes under $15. These modest prices across multiple transactions over a 12-year period, combined with the high catalog value of $50 for UNC (suggesting ready availability at lower grades), indicate this is a standard circulating issue from a major issuing authority with substantial print runs. The note is not scarce or difficult to locate in any grade, making it a common item in the numismatic market.

Issued by the Banco Nacional de Nicaragua in 1951, this note reflects Nicaragua's mid-twentieth century monetary modernization under American banking influence. The decree-law authorization dating to October 26, 1940, and the August 4, 1941 law printed on the note underscore the legal framework establishing the córdoba's stability during this period. The prominent depiction of the volcanic landscape on the reverse symbolizes Nicaragua's distinctive natural geography and national identity, while the formal female portrait suggests themes of national progress and cultural representation.

The obverse centers on a portrait of a Nicaraguan woman of prominence, depicted with formal military or state dress, her dark hair styled in an upswept arrangement typical of mid-twentieth century formal portraiture, and a decorative medal or order pinned to her chest. She is framed within a large oval cartouche surrounded by elaborate Art Deco-influenced decorative borders featuring scrollwork, floral motifs, and corner medallions in blue, pink, green, and tan. Denomination numerals '1' appear in ornamental cartouches flanking the portrait. The reverse features the Nicaraguan national coat of arms: a prominent triangular shield containing a volcanic peak (likely representing one of Nicaragua's famous volcanoes such as Momotombo) rising dramatically from water or an isthmus, with radiating sun-rays or light emanating behind the mountain. This central heraldic device is enclosed within an elaborate circular seal frame, with matching corner ornaments and decorative elements echoing the obverse design. The entire design reflects the engraving aesthetics and security standards typical of American Bank Note Company work from this period.

FRONT: 'Banco Nacional de Nicaragua' (National Bank of Nicaragua); 'Departamento de Emisión, Managua' (Department of Emission, Managua); 'Un Córdoba' (One Córdoba); 'Serie' (Series); 'Este billete ha sido emitido de conformidad con el Decreto-Ley del 26 de Octubre de 1940 y la Ley de 4 de Agosto de 1941; deberá ser recibido en pago de los derechos aduaneros y fiscales y ser ofrecido legal y obligatoriamente para el pago de deudas dentro de la República.' (This note has been issued in accordance with the decree-law of October 26, 1940 and the law of August 4, 1941; it must be accepted in payment of customs and fiscal duties and shall be offered legally and obligatorily for the payment of debts within the Republic.); 'American Bank Note Company'. BACK: 'Banco Nacional de Nicaragua' (National Bank of Nicaragua); 'Departamento de Emisión' (Department of Emission); 'La República de Nicaragua' (The Republic of Nicaragua); 'Un Córdoba' (One Córdoba); 'American Bank Note Company'.

Intaglio/line engraving, the signature printing method of the American Bank Note Company. The visual analysis confirms the use of fine parallel line work, intricate scroll engraving, detailed shading through engraved lines, and complex geometric and decorative patterns characteristic of steel plate engraving. This traditional security printing technique provided both aesthetic appeal and significant anti-counterfeiting protection through the difficulty of reproducing fine engraved detail and the characteristic 'feel' of intaglio-printed notes. Color variations on the obverse were achieved through the use of multiple engraved plates and multi-color printing from separate impressions.

This example is cataloged as Pick P-91b, the 1951 issue. The catalog reference notes that a similar earlier version without overprint exists as P-90 (dated 1949). The distinguishing feature of P-91b is the 1951 date printing. Serial number 6753601 is visible on the obverse in red text. The visual analysis indicates 'SERIE DE (date)' typographed and printed in red on the obverse, which is consistent with the P-91b variety. No other notable overprints, color varieties, or signature varieties are apparent from the visual examination of this specific specimen.