10 centavos 1912

Common. This note is commonly encountered in the collector market. The catalog reference from realbanknotes.com documents eBay sales at modest prices ($14.51 for VG condition in 2019), with catalog values for higher grades ranging from $8 (Good) to $75 (EF). These prices are typical for non-rare early Latin American banknotes with reasonable print runs. No evidence suggests an exceptionally low print run or recall status for Pick P-52c. The existence of multiple cataloged variants and PMG population data further supports the assessment that this issue was produced in sufficient quantities to remain accessible to collectors.

Issued under the Law of March 20, 1912, this banknote represents a modernization of Nicaragua's currency system during a period of economic and political reorganization. The inclusion of both Spanish and English text reflects Nicaragua's international financial ties during this era, while the volcanic landscape depicted on the reverse symbolizes the nation's natural identity. The Banco Nacional de Nicaragua, as the issuing authority, was establishing a standardized currency backed by formal legislation.

The obverse features a classical allegorical portrait of Liberty positioned within an ornate oval frame on the left side, rendered in the neoclassical style characteristic of early 20th-century American bank note design. Liberty is depicted in profile facing left, wearing a laurel wreath or head covering, symbolizing freedom and national prosperity. The denomination '10' appears in decorative corner elements and centrally within diamond-shaped cartouches. The reverse depicts a prominent mountain or volcanic peak within a large central triangle, representing Nicaragua's distinctive topography and natural resources. Ornate oval frames containing the denomination flank the central landscape vignette. Elaborate scrollwork and floral border designs frame both sides, with geometric patterns completing the decorative scheme. The note's design exemplifies the high-quality banknote engraving standards of the American Bank Note Company.

FRONT: 'National Bank of Nicaragua Incorporated' / 'Banco Nacional de Nicaragua' / 'Diez Centavos de Córdoba' (Ten Centavos of Córdoba) / 'Este billete ha sido emitido de conformidad con la Ley de 20 de Marzo de 1912 y será recibido en pago de los derechos aduanales y fiscales.' (This banknote has been issued in accordance with the Law of March 20, 1912 and will be received in payment of customs and fiscal duties.) / 'Será de curso legal y obligatorio para el pago de deudas dentro de la República, al portador de la República.' (It will be legal tender and mandatory for payment of debts within the Republic, to the bearer of the Republic.) / 'American Bank Note Co. New York' / Signatures of President and official (César, Presidente) / Serial number B 110427. BACK: 'National Bank of Nicaragua Incorporated' / 'Banco Nacional de Nicaragua' / 'Diez Centavos de Córdoba' (Ten Centavos of Córdoba) / 'American Bank Note Company, New York'

This note was produced using intaglio engraving (copperplate printing), the standard security printing technique employed by the American Bank Note Company. The fine line engraving is evident throughout both sides, particularly in the detailed portrait oval, the intricate landscape vignette showing the volcanic peak, and the complex border patterns. Multiple color printing was employed—black ink on tan/cream paper for the obverse and green ink on the reverse—with careful registration to achieve the noted denominational and text placement. The printer's credit 'American Bank Note Co. New York' appears on both sides, confirming the production location.

This specimen is identified as Pick P-52c, representing a specific cataloging variant of the 1912 10 centavos issue. The visual analysis indicates this note carries serial prefix 'B' (B 110427) and bears the signature of President E. Chamorro (identified in the reference data, though the visual analysis reads it as 'Edouano'—likely a transcription variation). The note displays the standard design of this issue with no apparent overprints or major variants. PMG has cataloged at least one variant for this base Pick number, suggesting multiple states or signature varieties exist within the broader P-52 designation.