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| 表面の銘文 | 5 - MUNT-BILJET VAN HET KONINGRYK DER NEDERLANDEN - 5 De effective Waarde door de Nederlandsche Bank over- genomen, ingevolge de Wet van den 18 Dec. 1845, St. Bl. No. 90. VIJF GULDEN - No MUNT-BILJET. Groot VIJF GULDEN. Uitgegeven ingevolge de wet van den 18 December 1845, Staatsblad No. 90, waarvoor de waarde bij de Nederlandsche Bank is overgebragt. Zegge f 5,-- - 's Gravenhage 1 Januarij 1846. Geregistreerd - De Minister van Financien, Geregistreerd voor VIJF GULDEN. Register Lett. E. 5 - De effective waarde overgebragt bij de Nederlandsche Bank. - 5 (Translation: Coin Note of the Kingdom of the Netherlands. The effective Value taken over by the Dutch Bank, pursuant to the law of Dec. 18th 1845, Off. Gaz. No. 90. Five Gulden. Coin Note. Five Gulden. Issued pursuant to the law of December 18th 1845, Official Gazette No. 90, for which the value is transferred to the Dutch Bank. Say f 5,-- - 's-Gravenhage January 1st 1846. Registered - The Minister of Finance. Registered for Five Gulden. Register Lett. E. 5 - The effective value transferred to the Dutch Bank. - 5) |
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| 偽造防止の説明 | RIJKS MUNT watermark, visible as a circular coin impression in the paper at the left-centre of the note |
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The Dutch "muntbiljet" — coin note — was a peculiar instrument: paper currency issued not by a central bank but directly by the Ministry of Finance, explicitly backed by and equivalent to coinage. The 1846 series preceded the establishment of any formal central note-issuing framework in the Netherlands, and the Ministry's direct role reflects the fiscal improvisation of mid-nineteenth century Dutch monetary administration.
A print run of over twelve million for a single denomination in this period is substantial, suggesting aggressive distribution rather than cautious pilot issuance. Watermarking was the sole security measure — thin protection for a government note in an age of competent forgery.