1737, Netherlands East Indies (VOC). Copper “West Friesland” Duit Coin.
Mint Year: 1737
Denomination: Duit
Reference: KM-131.
Region: Netherlands East Indies
Issuer: United East Indian Company (VOC)
Material: Copper
Diameter: 21mm
Weight: 2.93gm
Obverse: Crowned shield of West Friesland.
Reverse: Privy mark flanked by two rosettes above cipher of the Dutch East India Company (VOC) and date (1737).
The Dutch East India Company (Vereenigde Oost-Indische Compagnie or VOC in Dutch, literally “United East Indian Company”) was a trading company, which was established in 1602, when the States-General of the Netherlands granted it a 21-year monopoly to carry out colonial activities in Asia. It was the first multinational corporation in the world and the first company to issue stock. It was also arguably the world’s first megacorporation, possessing quasi-governmental powers, including the ability to wage war, negotiate treaties, coin money, and establish colonies.
The Dutch East India Company remained an important trading concern for almost two centuries, paying an 18% annual dividend for almost 200 years. In its declining years in the late 18th century it was referred to as Vergaan Onder Corruptie which translates as ‘Perished By Corruption’. The VOC became bankrupt and was formally dissolved in 1800, its possessions and the debt being taken over by the government of the Dutch Batavian Republic. The VOC’s territories became the Dutch East Indies and were expanded over the course of the 19th century to include the whole of the Indonesian archipelago, and in the 20th century would form Indonesia.