Netherlands Antillean guilder

Netherlands Antillean guilder
Antilliaanse gulden (Dutch)
Modern 10 guilder bill, in circulation 2009 Modern 100 guilder bill, in circulation 2009
ISO 4217
Code	ANG
Denominations
Subunit
1/100	cent
Plural	guilders
cent	cents
Symbol	NAƒ, NAf, ƒ or f
Banknotes
Freq. used	ƒ10, ƒ25, ƒ50, ƒ100
Rarely used	ƒ5, ƒ250
Coins	1, 5, 10, 25, 50 cent, ƒ1, ​ƒ2 1⁄2, ƒ5
Demographics
User(s)	Curaçao  Sint Maarten  Netherlands Antilles until 10 October 2010  Caribbean Netherlands until 1 January 2011
Issuance
Central bank	Central Bank of Curaçao and Sint Maarten
Website	www.centralbank.cw
Printer	Joh. Enschedé
Website	www.joh-enschede.nl
Valuation
Inflation	3.6%
Source	Bank van de Nederlandse Antillen, 2006 Q1
Method	CPI
Pegged with	U.S. dollar = ƒ1.79

The Netherlands Antillean guilder (Dutch: gulden) is the currency of Curaçao and Sint Maarten, which until 2010 formed the Netherlands Antilles along with Bonaire, Saba, and Sint Eustatius. It is subdivided into 100 cents (Dutch plural form: centen). The guilder was replaced by the US dollar on 1 January 2011 on Bonaire, Saba and Sint Eustatius.^[1] On Curaçao and Sint Maarten, the Netherlands Antillean guilder was proposed to be replaced by a new currency,^[1] the Caribbean guilder,^[2] but this has been stalled indefinitely by negotiations over the establishment of a separate central bank for Curaçao.^[3]

Naming

In Papiamentu, the local language of Aruba, Bonaire and Curaçao, the guilder is called a "florin".^[4] The ISO-4217 code, ANG, is derived from ANtilliaanse Gulden, while the currency symbol, NAFl, is derived from Netherlands Antilles Florin.

History

In the 18th century, the Dutch guilder circulated in the Netherlands Antilles. This was supplemented in 1794 by an issue of coins specific for the Dutch holdings in the West Indies. At this time, the guilder was subdivided into 20 stuiver.

Between 1799 and 1828, the reaal circulated on the islands, with 1 reaal = 6 stuiver or ​3 ¹⁄₃ reaal = 1 guilder. The Dutch guilder was reintroduced in 1828, now subdivided into 100 cents. When currency began once more to be issued specifically for use in the Netherlands Antilles, it was issued in the name of Curaçao, with the first banknotes and coins, denominated in the Dutch currency, introduced in 1892 and 1900, respectively. The name "Netherlands Antilles" (Nederlandse Antillen) was introduced in 1952.

In 1940, following the German occupation of the Netherlands, the link to the Dutch currency was broken, with a peg to the U.S. dollar of 1.88585 guilders = 1 dollar established. The peg was adjusted to 1.79 guilders = 1 dollar in 1971.

In 1986, Aruba gained a status aparte and thereby left the Netherlands Antilles. Shortly after that, Aruba began to issue its own currency, the Aruban florin, which replaced the Netherlands Antillean guilder at par.

In 2011, a year after the dissolution of the Netherlands Antilles, Bonaire, Saba and Sint Eustatius switched to the US dollar.

Curaçao and Sint Maarten intended to replace the currency, thus ceased production of the currency, but as of 12:54, Sunday, October 21, 2018 (UTC) still use the Antillean guilder. However since 2018 banknotes and coins now require replacement^[5] and there are only two years of the Antilles guilder physical currency remaining: there is still a possibility that the islands could opt for the euro instead or possibly the US dollar .^[6]

Coins

In 1794, silver coins were issued for use in the Dutch West Indies in denominations of 2 stuiver, ​1⁄4, 1 and 3 guilders. After the reintroduction of the Dutch guilder in 1828, some 1-guilder coins were cut into quarters and stamped with a "C" in 1838 to produce ​1⁄4-guilder coins. In 1900 and 1901, silver ​1⁄10 and ​1⁄4-guilder coins were introduced which circulated alongside Dutch coins. Following the German occupation of the Netherlands and the separation of the Netherlands Antillean currency from the Dutch, a bronze 1-cent coin was introduced in 1942, followed by a cupro-nickel 5-cent coin in 1943. Bronze ​2 1⁄2 cent and silver 1 and ​2 1⁄2 guilders were introduced in 1944. The coinage of 1941–44 was minted in the United States and carries "P" or "D" mintmarks, and for most denominations a small palm tree. This money was also intended for use in Suriname. The alternate Dutch names for some of these coins are: 5 cent—stuiver; 10 cent—dubbeltje; 25 cent—kwartje; and ​2 1⁄2 guilders—rijksdaalder. From 1952, the name "Nederlandse Antillen" appeared on the coins. In 1970, nickel replaced silver, although the ​2 1⁄2-guilder coin was not reintroduced until 1978. Aluminium 1 and ​2 1⁄2 cents were introduced in 1979. In 1989, aluminium 1 and 5 cents, nickel-bonded-steel 10 and 25 cents, and aureate-steel 50 cents, 1 and ​2 1⁄2 guilders were introduced. Aureate-steel 5-guilder coins followed in 1998.

The five-guilder coin is produced from aureate steel. The spots on the obverse are the result of corrosion, and are not a typical feature of the coin. Octagonal ridges are built into the face to help distinguish it from the similar one-guilder coin. The face features Beatrix of the Netherlands, while the obverse has the coat of arms of the Netherlands Antilles. The one-guilder coin is produced from aureate steel. The face features Beatrix of the Netherlands, while the obverse has the coat of arms of the Netherlands Antilles. The 50-cent coin is diamond-shaped. It is the only modern Antillean coin in this form, but an earlier version of the five-cent piece was also in this shape.

Banknotes

In 1892, the Curaçaosche Bank introduced notes in denominations of 25 and 50 cents, 1 and ​2 ¹⁄₂ guilders. This was the only issue of the cent denominations. Notes for 5, 10, 25, 50, 100, 250 and 500 guilders followed in 1900. The 1 and ​2 ¹⁄₂ guilder notes were suspended after 1920 but reintroduced by the government in 1942 as muntbiljet.

From 1954, the name "Nederlandse Antillen" appeared on the reverse of the notes of the Curaçaosche Bank and, from 1955, the muntbiljet (​2 ¹⁄₂ guilders only) was issued in the name of the Nederlandse Antillen. In 1962, the bank's name was changed to the Bank van de Nederlandse Antillen. Starting in 1969, notes dated 28 AUGUSTUS 1967 began to be introduced. The front of these notes all feature the Statuut monument at front left instead of the allegorical seated woman found on the preceding issues, and on the back there is a new coat of arms.^[7] In 1970, a final issue of muntbiljet was made in denominations of both 1 and ​2 ¹⁄₂ guilders. The 500 guilder note was not issued after 1962. The 5 and the 250 guilder note was not issued after 1998. The 5 guilder was replace with a coin.

The 10 guilder bill is illustrated with a kolibrie. Security features include a surface foil tag, an embedded hologram under the hummingbird, and an orange moiré pattern contrasting with the green bill.	The 25 guilder bill is illustrated with a flamingo. Security features include a surface foil tag, an embedded hologram under the flamingo, and a green moiré pattern contrasting with the pink bill.	The 50 guilder bill has an andes mus on the face. Security features include a surface foil tag, an embedded hologram under the mus, and a green moiré pattern contrasting with the orange bill.	The 100 guilder bill has a suikerdiefje on the face. Security features include a surface foil tag, an embedded hologram under the suikerdiefje, and a green moiré pattern contrasting with the brown bill.

See also

• Economy of the Netherlands Antilles
• Central banks and currencies of the Caribbean

Notes

References

External links

• Banknotes of the Netherlands Antilles