1 gulden 1945
Market Prices
46 salesAbout This Note
This 1945 Netherlands 1 gulden note (Pick-70) presents in Very Fine condition with crisp, clear printing throughout and minimal signs of circulation wear. The banknote features a striking portrait of Queen Wilhelmina in an ornate oval frame on the obverse, rendered in red-brown ink on a pale green underprint, while the reverse displays the Dutch royal coat of arms with the national motto 'Je Maintiendrai.' This post-war emergency currency issue, produced by Thomas de la Rue & Company in London, represents an important transitional piece of Dutch monetary history issued under royal decree just days after Nazi occupation ended.
Common. This is a regular-issue banknote from a major currency authority with a substantial print run. The eBay price history provided shows consistent sales in the $4–$21 range for VF specimens, with most VF-graded examples selling between $5–$10. Even premium grades (AUNC, UNC) reached only $60–$91, indicating strong collector availability. The catalog value for VF is listed at just $3, and the 2016 reference confirms VF rarity ratings at $3, placing this squarely in the common category. These notes circulated widely and many survive in various grades; VF specimens like this one are readily obtainable at modest cost.
Issued on May 18, 1945, by Royal Decree under the Minister of Finance, this gulden note represents the Netherlands' immediate post-liberation monetary recovery. The prominence of Queen Wilhelmina's portrait—who had maintained the Dutch government-in-exile during the Nazi occupation—symbolized the restoration of legitimate Dutch authority and national sovereignty. The inclusion of the royal coat of arms and the national motto 'Je Maintiendrai' reinforced continuity with pre-war Dutch statehood during the critical transition from occupation to independence.
The obverse features a three-quarter profile portrait of Queen Wilhelmina, centered within an ornate oval frame decorated with fine floral and geometric patterns. The portrait faces slightly left and depicts the Queen in early 20th-century formal attire, embodying the restoration of Dutch monarchy after wartime occupation. Corner elements include four star-burst shaped denomination frames containing the numeral '1' and fleur-de-lis designs in the upper corners. The reverse presents the Dutch royal coat of arms—featuring a crowned lion rampant (the lion of the Netherlands) as the central heraldic element, flanked by two shield-shaped frames containing 'EEN GULDEN' text. Circular denomination markers appear in all four corners, and the entire design is framed by ornamental borders incorporating floral motifs and intricate geometric patterns. The color scheme throughout employs red-brown printing on a pale green/cream underprint.
FRONT SIDE: 'NEDERLAND' (Netherlands), 'MUNTBILJET' (Currency note), 'EEN GULDEN' (One gulden), 'UITGEGEVEN KRACHTENS KONINKLIJK BESLUIT VAN 18 MEI 1945' (Issued by Royal Decree of May 18, 1945), 'DE MINISTER VAN FINANCIËN' (The Minister of Finance), 'WETTIGE BETAALMIDDEL' (Legal tender), 'THOMAS DE LA RUE & COMPANY LIMITED LONDON' (printer attribution). REVERSE SIDE: 'NEDERLAND' (Netherlands), 'EEN GULDEN' (One gulden—appears twice in shield frames), 'JE MAINTIENDRAI' (I will maintain—Dutch national motto), 'WETBOEK VAN STRAFRECHT ART. 206' (Criminal Code Article 206), 'HET NAMAKEN OF VERVALSCHEN VAN MUNSTBILJETTEN...' (Anti-counterfeiting statute warning that counterfeiting, falsification, stockpiling, or circulation of false or counterfeit banknotes is punishable under law), 'THOMAS DE LA RUE & COMPANY LIMITED LONDON' (printer attribution).
Intaglio engraving (line engraving), the primary printing method for security banknotes. The visual analysis reveals fine line engraving patterns, intricate cross-hatching in background areas, and complex geometric patterns throughout—all characteristic hallmarks of intaglio work. The printer, Thomas de la Rue & Company Limited of London, was one of the world's leading security printers and exclusively used intaglio engraving for banknote production during this era. The crisp, clear impression observed in the VF condition specimen confirms the high-quality engraved plate work characteristic of De la Rue's premium security printing.
The visual analysis documents a serial number '4AM673199' visible in the upper corners, indicating the 4AM prefix variety. According to realbanknotes.com reference data, this 1945 issue exists in two serial number varieties. The specific variety designation would depend on the serial number prefix system (4AM appears to be one documented variety). No date variations, overprints, or other distinguishing characteristics are evident in the observed specimen. The printer credit consistently reads 'THOMAS DE LA RUE & COMPANY LIMITED LONDON,' with no variant printings noted for this Pick-70 designation.
