20 cordobas 1968

Common. This note is a standard regular-issue circulation denomination from the Banco Central de Nicaragua with no evidence of limited print runs or special characteristics that would suggest scarcity. Market pricing data from realbanknotes.com indicates catalog valuations of $5 in VF condition and $30 in UNC (2019 assessment), with recent eBay sales in the $88–$122.50 range for PMG 53-graded specimens—price levels consistent with common circulating issues rather than rare or key-date notes. The series designation ('SERIE B') and the straightforward serial numbering observed suggest standard production. Unless specific print-run data indicates otherwise, this should be classified as a common banknote in the Nicaraguan 20 Cordobas series.

This 1968 issue commemorates key figures in Nicaragua's political and colonial heritage. Tomás Martínez-Guerrero, depicted on the obverse, served as President of Nicaragua during the mid-19th century, while Francisco Hernández de Córdoba, shown on the reverse in distinctive colonial formal dress with ruffled collar, was the Spanish conquistador and founder of Granada and León in the 16th century. The note's issuance by executive decree (Decreto Ejecutivo No. 35-AL of May 25, 1968) reflects the Central Bank's assertion of monetary authority during a period of economic modernization in Central America.

The obverse features a portrait of Tomás Martínez-Guerrero, depicted as a bearded man in formal attire, positioned at center within an ornate circular frame composed of fine decorative borders. The reverse displays Francisco Hernández de Córdoba in historical colonial dress, notably including a distinctive ruffled collar characteristic of 16th-century Spanish formal wear, similarly framed in ornate circular detailing. Both sides employ a consistent color scheme of red/pink and beige throughout, with the denomination '20' rendered in elaborate rosette medallions positioned at all four corners. Background security design consists of intricate geometric lattice patterns, fine-line floral scrollwork, and elaborate guilloche bands that frame the central portrait areas and fill peripheral spaces. The layout reflects classical security printing aesthetics typical of Thomas de la Rue's mid-20th-century banknote designs.

FRONT: '20' (denomination in all four corners); 'BANCO CENTRAL' (Central Bank); 'DE NICARAGUA' (of Nicaragua); 'SERIE B' (Series B); Serial number 0228561; 'VALE POR VEINTE CORDOBAS' (Worth Twenty Cordobas); 'RESOLUCION DEL CONSEJO DIRECTIVO DEL BANCO CENTRAL DE NICARAGUA DE 16 DE MAYO DE 1968' (Resolution of the Governing Board of the Central Bank of Nicaragua of May 16, 1968); 'DECRETO EJECUTIVO NO. 35-AL DE 25 DE MAYO DE 1968' (Executive Decree No. 35-AL of May 25, 1968); 'EL PRESIDENTE DE LA REPUBLICA' (The President of the Republic); 'EL PRESIDENTE DEL BANCO CENTRAL DE NICARAGUA' (The President of the Central Bank of Nicaragua); 'EL GERENTE DEL BANCO CENTRAL DE NICARAGUA' (The Manager of the Central Bank of Nicaragua). BACK: '20' (denomination in all four corners); 'BANCO CENTRAL DE NICARAGUA' (Central Bank of Nicaragua); 'VEINTE CORDOBAS' (Twenty Cordobas); 'FRANCISCO HERNÁNDEZ DE CÓRDOBA' (Francisco Hernández de Córdoba); 'THOMAS DE LA RUE & COMPANY, LIMITED' (printer identification).

Intaglio engraving (copperplate/steel plate printing) executed by Thomas de la Rue & Company, Limited, London—evidenced by the fine-line guilloche patterns, detailed portrait rendering, ornate frame work, and geometric mesh backgrounds visible throughout both sides. The precision of the decorative rosettes, the intricate lattice patterns, and the sharp detail in facial features and colonial costume elements are hallmarks of professional security printing via intaglio process. No offset lithography characteristics are apparent; the design is entirely consistent with traditional line-engraved banknote production of the 1960s era.

The note observed bears 'SERIE B' designation and serial number 0228561, indicating it is part of Series B production. As with most Thomas de la Rue banknotes of the 1960s, varieties may exist related to signature variations (the note carries three signatures as per the reference data: President of the Republic, President of the Central Bank, and Manager of the Central Bank), though signature varieties for this denomination and series have not been definitively catalogued in standard references. The Pick number P-118 represents the primary catalogue listing; no overprints, commemorative markings, or other distinguishing varieties are evident in the visual specimens provided. Collectors should note that serial number prefixes and signature combinations may vary across the series production run.