50 Gulden Coin Note

Issued by the State Treasury rather than De Nederlandsche Bank, these notes circulated in parallel with the central bank's own paper — a distinction that confused foreign recipients and occasionally domestic merchants alike. The "Coin Note" designation reflects the original statutory intent: these instruments were backed by and theoretically exchangeable for coin at the Treasury, a guarantee that grew increasingly strained as the silver question dominated Dutch monetary policy through the 1890s.

The twelve-year span of issue under a single Pick number masks considerable variation in signature combinations, with at least several distinct signing officials recorded across the period. Collectors frequently overlook this when attributing examples.