Dutch East Indies, Post–VOC Duit

Date: 1833 - 1840

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Item Description:

 This is a copper one duit coin minted in the Dutch East Indies (modern day Indonesia) after the collapse of the Dutch East India Company (VOC). Instead of showing the company monogram like earlier coins from the 1700's, these instead have the words "NEDERL INDIE" and the date.

The Dutch East India Company, (translated from Vereenigde Oost-indische Compagnie, or VOC) was the first multinational corporation in history as well as one of the largest. It was the sole trading company in all of southeast Asia, and even had its own private military to defend its holdings. They minted their own corporate money, and literally created the modern day financial system by introducing the idea of international financial centers and stock trading. 

The company charter was revoked in 1799 by the Dutch government, who took over the VOC’s debts and possessions. The Dutch administration was replaced by British rule following the invasion of Java in 1811. Dutch rule was restored between 1814-1816 as part of a treaty between the Netherlands and Britain. The Dutch government issued fractional copper coins like these, along with silver "Netherlands indies" gulden until Indonesian independence in 1949.

These coins were struck at the Surabaya mint, which had originally closed in 1828. However, it was reopened in the 1830's due to demand for coinage created by the cultivation system: a Dutch government policy requiring farmers to devote part of agricultural production to export crops. When demand was finally satiated, the Surabaya mint closed in 1843 and subsequent coinage was imported.

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