Dutch gulden

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The gulden (usually called guilder in English [1]), represented by the symbol ƒ or fl., was the currency of the Netherlands from the 13th century until 2002, when it was replaced by the euro. Between 1999 and 2002, the gulden was officially a "national subunit" of the euro. However, physical payments could only be made in gulden, as no euro coins and notes were available. Gulden are still in use in the Netherlands Antilles, a Dutch dependency, although this currency is distinct from the Dutch gulden. In 2004, the Surinamese gulden was replaced by the Surinamese dollar.

The name "gulden" was derived from "gouden" (golden) or "verguld" (gilded).

The exact exchange rate, still relevant for old contracts and for exchange of the legacy currency for euros at the central bank, is 2.20371 Dutch gulden (NLG) for 1 euro (EUR). Inverted, this gives EUR 0.453780 for NLG 1.

Contents 1 History 2 Denominations 3 See also 4 External links

[edit] History

In the Netherlands, both gold and silver gulden coins were issued. In the 18th century, the silver gulden was divided into 20 stuivers, each of 8 duit or 16 penning. At various times, other coins derived from the guilder emerged. Among them were the daalder of one and a half gulden (30 stuivers) and the rijksdaalder of two and a half gulden (50 stuivers). The names were derived from the German thaler.

The symbol ƒ or fl. for the Dutch gulden was derived from another old currency, the florijn.

Following the Napoleonic wars, the Netherlands decimalized, in 1816 , with one gulden equal to 100 cents. However, some of the new, decimal coins continued to bear nicknames based on their values in the older currency system. It was not until the 1840s that the last pre-decimal coins were withdrawn from circulation. Many of them still dated back to the 17th century.

Economic problems caused by World War I made the Dutch government reduce the silver content of many silver coinage. During World War II the occupation authorities issued zinc coins, so that bronze ones could be withdrawn and melted for war-purposes. After the war the largest currency reform since 1816 took place, replacing all coins and banknotes minted or printed prior to 1948. The Gulden was devaluated significantly. The last silver coins (1 and 2,5 Gulden) were struck in 1967. In 2002 the Gulden was replaced by the Euro.

The Chinese translation for "florin" and consequently "guilder" is "盾" (literally: shield). It originated from the translation referring to the British florin with its four shields in the 1849 design. This translation was then borrowed to refer similarly to the Dutch florin and guilder. As a result, currencies in the guilder-based Aruba and Netherlands Antilles are still referred to as "盾".

[edit] Denominations

At the time of withdrawal, the following denominations were circulating, the 1 cent coin having been withdrawn in 1983:

• Coins - nickname:
  • 5 cent - stuiver
  • 10 cent - dubbeltje (doubler - because this comprises of two stuivers)
  • 25 cent - kwartje (quarter)
  • 1 gulden - gulden, piek
  • ƒ2½ - rijksdaalder, colloquially riks or knaak, not to be confused with the older valued daalder (1½ gulden)
  • ƒ5 - vijfje ('Fiver')

All the coins carried a profile image of the Queen on the heads side and a simple grid on the other side.

• Banknotes - nickname:
  • ƒ10 - tientje, joet
  • ƒ25 - geeltje
  • ƒ50 - zonnebloem (sunflower)
  • ƒ100 - honderdje, meier / later: snip (common Snipe)
  • ƒ250 - vuurtoren (lighthouse)
  • ƒ1000 - duizendje, (rooie) rug / rooi(tj)e

At the time of withdrawal, all but the 50 and 250 gulden notes had been issued in a new revision that was the same colour as the older, long-serving notes but with a mostly abstract pattern, featuring a different bird for each denomination.

Persons depicted on older banknotes:

• ƒ5 - poet Joost van den Vondel (until the note was replaced by a ƒ 5 coin)
• ƒ10 - painter Frans Hals
• ƒ25 - composer Jan Petersz. Sweelinck
• ƒ100 - admiral Michiel de Ruyter (This being the most profitable note to couterfeit it was first replaced by a note featuring the common snipe. This note was of a similar design as the newly introduced 50 and 250 gulden notes; and was again replaced by an abstract design in the last series of gulden notes)
• ƒ1000 - philosopher Baruch d'Spinoza

These 1970s "face"-notes and the 80's ƒ50 (sunflower), ƒ100 (snipe) and ƒ250 (lighthouse) were designed by R.D.E. Oxenaar. Eventually all faces were to be replaced by abstracts, designed by Jaap Drupsteen, see above.

Again earlier, there was a banknote of ƒ2½, and longer ago, one of ƒ1.

The coins (not including the 1 cent, or the silver versions of the 1 or 2½ gulden, but including the cupronickel versions of the 1 and 2½ gulden, and also the 50 gulden commemorative coins) remain exchangeable for euros at branches of the Netherlands Central Bank until 1 January 2007. Banknotes valid at the time of conversion to the euro may be exchanged there until 1 January 2032.

[edit] See also

• Dutch euro coins
• Category:Dutch coins

[edit] External links

Wikimedia Commons has media related to: Guilder

• The Marteau Early 18th century Currency Converter with tools to convert early 18th century Dutch Guilders into the major contemporary European currencies.
• Overview of the Dutch guilder and its history from the BBC
• Banknotes of the Netherlands

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Preceded by ?, French franc (1794-1815, Southern Netherlands)

Dutch currency 15th century-2002[1] 1815-1832 (Belgium) 1828-1940 (Netherlands Antilles) ?-1962 (Surinam)

Succeeded by Belgian franc (1832, Belgium), Netherlands Antillean gulden (1940, Netherlands Antilles), Surinamese gulden (1962, Surinam), Euro

1. ^ 28 January 2002 by law, 2002 de facto

Guilders
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