2 1/2 Gulden Silver Voucher

The Zilverbons — silver vouchers — were introduced in 1917 as an emergency measure after hoarding stripped the Netherlands of its silver coinage within the first years of the war. The 2½ Gulden denomination replaced the familiar silver rijksdaalder, and the government made these notes legally redeemable in silver, a promise it quietly walked back as bullion reserves tightened. By 1920 the redemption guarantee had become essentially theoretical.

The Ministry of Finance issued directly, bypassing De Nederlandsche Bank entirely — an unusual arrangement that reflected how quickly the wartime monetary situation had overtaken normal institutional channels.