Reformation of a monetary system offers a new outlook in addition to coinage and currency for a country. This was certainly the case for the largest country in Central America in the early 1900s. Authors Charles Morgan and Hubert Walker will take us through a reformed system and help us understand the rarity that did not seem to make it out of the same year it was first introduced.
#98 – Nicaragua 1912-H Silver Córdoba
Located to the north of Costa Rica and to the south of Honduras, Nicaragua is the largest country in Central America. In pre-Columbian times, the region was made up of multiple indigenous tribes that were influenced heavily by Mayans and Aztecs from the north and Muisca from the south. However, in 1912, the country’s monetary system was reformed and aided by investment capital that was coming from the United States. The Central American republic then introduced new paper money into circulation as well as six new circulating coin denominations based off the new unit of one córdoba.
Named after the Spanish conquistador, Francisco Hernández de Córdoba, the córdoba featured his likeness on the obverse of the coin in addition to the other new denominations. Those denominations included ½ centavo, centavo, 5 centavos, 10 centavos, 25 centavos, 50 centavos, and the córdoba. All of these were struck at the private mint, the Heaton Mint, in Birmingham, England.
When it came to the córdoba, 1912 was the first and only year it would be produced. It did return in 1972 but it would be smaller, made of copper-nickel, and have much less value than the one minted 60 years prior. However, its collectability is high according to authors Morgan and Walker, citing the following three things made it so: “it is the only crown-sized silver coin struck for circulation for Nicaragua; its low mintage and low survival rate in Mint State make it a challenge to collect; and the coin’s design is one of the most striking in the Latin American series.”
Struck at the Heaton Mint, the 1912-H Silver Córdoba has a mintage of just 35,000 and is comprised of .900 silver.