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10 Gulden Willem I - Molen

Issuer De Nederlandsche Bank
Year 1949
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Currency Gulden (decimalized, 1817-2001)
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Obverse description Blue intaglio print over a multicolor guilloche underprint. Portrait vignette of King Willem I (1772–1843) positioned to the right, rendered in fine engraved detail. The denomination '10' appears at left and right, with the issuer name 'DE NEDERLANDSCHE BANK' and the printer's imprint of Thomas De La Rue & Co. Ltd. inscribed across the note.
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Protection type Watermark
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Comments

The Molen series was produced by De La Rue in London because Dutch printing infrastructure had not yet fully recovered from the wartime German occupation — the bank relied on British contractors for several postwar issues through the late 1940s. Over twelve million of these notes were printed, a substantial run, yet the series has a relatively short effective circulation window; it was superseded as the bank modernized its note designs through the early 1950s.

Willem I's association with the Dutch financial system gave the series its popular name. The watermark remains the sole security feature — modest even by the standards of the period.

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