25 Gulden Spare Note

De Nederlandsche Bank began issuing "spaarbiljetten" — spare notes — as a contingency measure at the outbreak of the First World War, when the suspension of the gold standard and a sudden public rush on bank reserves created an acute shortage of circulating currency. The 25 Gulden denomination was among the first produced under emergency authorization in August 1914, printed domestically by De Bussy rather than through the bank's usual suppliers.

The perforation cancellation found on surviving examples typically indicates redemption rather than fraud prevention — cancelled spares returned through official channels were routinely punched before archiving.