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20 Gulden

Issuer De Nederlandsche Bank
Year 1945
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Value 20 Gulden (20 NLG)
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Obverse description Yellow and brown bicolour note with a portrait vignette of Stadtholder-King Willem III (1651–1702) positioned to the right, rendered in intaglio against a fine guilloche underprint. Denomination numeral "20" appears in the corners, with the issuing authority inscription and signatures of the President and Secretary of De Nederlandsche Bank printed below the portrait. The printer's imprint of Thomas De La Rue & Co. Ltd., London, is present at the lower margin.
Obverse lettering 20 - DE NEDERLANDSCHE BANK - 20 BETAALT AAN TOONDER TWINTIG GULDEN Willem III Stadhouder-Koning 1651 - 1702 DE SECRETARIS - 20 - DE PRESIDENT THOMAS DE LA RUE & COY LTD. LONDEN, ENGELAND
(Translation: 20 - Bank of the Netherlands - 20 Pay to the Bearer Twenty Gulden Willem III Stadtholder-King 1651-1702 The Secretary - 20 - The President Thomas de La Rue & Co. Ltd. - London, England)
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Comments

This note was printed in London for use in the Netherlands during the final phase of liberation — the Netherlands remained largely under German occupation until May 1945, and pre-positioning currency was a logistical necessity for the Allied-backed restoration of civil administration. De La Rue produced several denominations for this purpose, with the plates prepared and struck well before they could physically reach Dutch territory.

The series is sometimes called the "bevrijdingsgulden" in collector circles, though that label is applied loosely across multiple liberation-era issues. Worth distinguishing from the contemporaneous London-exile issues of 1943, which served a different administrative function.

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