1 Gulden

The Curaçaosche Bank was established in 1828 and held a monopoly on note issue for the Dutch Caribbean territories throughout the colonial period. By 1920, Curaçao's economy was still largely dependent on the transit trade through Willemstad's free port — the oil refinery boom that would transform the island arrived only in 1915 with Shell's initial presence, though the refinery itself opened in 1918, meaning this note entered circulation during an abrupt and disorienting period of economic expansion.

The 1 Gulden denomination in this series is among the more difficult to locate today; low-value notes circulated hardest and were seldom saved.