Netherlands 50 Gulden (1982): Dutch-American Friendship, KM# 207

[Bimat]

The Netherlands 50 Gulden (1982), KM# 207, 25g, 925/1000 Silver (0.7435 Oz ASW), Edge Lettering: GOD * ZIJ * MET * ONS *, Mintage: 189,986 (UNC), 49,998 (Proof-like). Commemorates Dutch-American friendship.

Obverse: Portrait of Princess Beatrix facing left.

Reverse: Value within lion and eagle

I'm sure Peter will have some interesting information about my latest acquisition.

Aditya

[Figleaf]

Have a look here.

Why 1782? Because on 19th April of that year, the Republic recognised the US. Shortly after, John Adams, at the time living in Amsterdam, bought a house in The Hague, which became the first US embassy* with Adams as ambassador. Adams arranged for credit to the young republic with a series of loans through his friend, banker Nicolaas van Staphorst. The loans constituted an effort to underpin the new dollar, after the total collapse of the continental currency. The money ended up in the hands of the Bank of North America, where it acted as the reserve against the first USD notes. In that sense, Dutch and French bankers financed almost the whole external debt of the US. If memory serves, the US defaulted on the loans and took some Dutch banking houses down.

Peter

* There was a US representation in France before, but it had the status of mission, not embassy.

[Bimat]

Have a look here.

Why 1782? Because on 19th April of that year, the Republic recognised the US. Shortly after, John Adams, at the time living in Amsterdam, bought a house in The Hague, which became the first US embassy* with Adams as ambassador. Adams arranged for credit to the young republic with a series of loans through his friend, banker Nicolaas van Staphorst. The loans constituted an effort to underpin the new dollar, after the total collapse of the continental currency. The money ended up in the hands of the Bank of North America, where it acted as the reserve against the first USD notes. In that sense, Dutch and French bankers financed almost the whole external debt of the US. If memory serves, the US defaulted on the loans and took some Dutch banking houses down.

Peter

* There was a US representation in France before, but it had the status of mission, not embassy.

Thanks for the interesting information, Peter! Netherlands anyway is fond of issuing coins dedicated to diplomatic relations with other countries it seems. They have issued two €5 collector coins for Japan and Turkey and this one (pre-euro) for US. Are there any other coins as well with same theme? I prefer the Turkish and Japanese themed coin over this one as far as design is concerned.

Aditya

[SpaBreda]

Typical non-circulating value ...

But at the end of 2001, just before the Euro was introduced, many found their way from piggy-banks to the supermarket !
Along with the 10 Gulden coins, these 50's were spend to buy x-mas groceries and presents 

I remember collectors asking the staff at supermarkets if they had any 10's and 50's ... just to complete their collections !

yes ... I was one of them 

Paul.

[chrisild]

A-ha, an eyewitness.   As for other "friendship" coins, we could perhaps add the Australië Vijfje from 2006. The piece does not actually commemorate X years of Australian-Dutch relations, but since Australia also issued coins (featuring the ship "Duyfken") on the same occasion ...

Christian

[Figleaf]

Netherlands anyway is fond of issuing coins dedicated to diplomatic relations with other countries it seems. They have issued two €5 collector coins for Japan and Turkey and this one (pre-euro) for US

This all has roots in what the Dutch call the "golden age" of the Republic, roughly 1650 to around 1750. In this period, the influence of the country in international trade and science, feeding into art and political influence was way beyond the size of its population. There is enormous interest in this period, as it obviously contains lessons on how to be successful.

The most important factor seems to have been innovation. Stuff like mutual insurance, payment by banks and corporate finance was taken to new heights and had an impact from international trade and shipping to an interest in new products, like spectacles, spices and porcelain. You may remember speculaas, the spiced biscuits decorated with windmills, elephants, ships and what not. It needs spices from far away (pepper, cinnamon, ginger, cloves, cardamon and nutmeg) to be produced, yet the recipe is centuries old. International trade was the key and international relations the tool, hence a continued pride in them.

Two things are essential for innovation: people with ideas and tolerance. Tolerance originated in the unique situation of the country: it was protestant, but had a large minority of catholics within its borders. After a short battle of the remonstrants (tolerant) against the contra-remonstrants (intolerant), a measure of religious tolerance unknown in other European countries attracted persecuted minorities and political fugitives from everywhere. They contributed beyond their numbers to science and innovation, attracting non-persecuted scientists from everywhere. At the time, the population of Amsterdam consisted of around one third of people born there, one third other Dutchmen and one third non-Dutchmen.

This mix of immigration and tolerance, feeding upon itself worked the same way in the US. New York and California were once a centre of immigration, anything would go in the American West, universities would be populated by the persecuted and endowed with money from steel and train barons creating brilliant centres of science attracting even more brain power (remember the brain drain?) Finance would go to new heights. Now look at the destructive role of finance, US immigration policy and political tolerance in Washington and draw your own conclusions. There's a lesson for India there and Gandhi preached it (and so does the Dalai Lama today; who will fill his shoes?)

Peter

[Bimat]

Peter, you are a genius! Thanks a lot for the excellent explanation!

Aditya