FRASCATIUS ANCIENTS
A BEAUTIFUL COPPER VOC DUIT OF THE DUTCH EAST INDIA COMPANY (UTRECHT HOLLAND) DATED 1734 AD .
Copper Duits were part of the coinage used by Dutch New Amsterdam (later New York) to purchase the island of Manhattan from the locals in 1626. To prevent smuggling, the Dutch East India Company (VOC) ordered special coins with their monogram embossed upon them. It is said that at its peak, the VOC was worth the equivalent of Apple, Microsoft, Amazon, ExxonMobil, Berkshire Hathaway, Tencent, and Wells Fargo put together. This means that the world’s most valuable company, Apple, is worth about 11% of the peak value of the VOC. THE SIZE IS 21.9 MM AND 2.91 GRAMS.
OBVERSE – VOC monogram in middle, mintmark at top between dots, 1790 below. (VOC translation: Vereenigde Oost-Indische Compagnie : United East India Company)
REVERSE – Crowned Utrecht arms with lion supporters. Scrollwork in double exergue.
DUIT The duit was a copper Dutch coin worth 2 penning, with 8 duit pieces equal to one stuiver and 160 duit pieces equal to one gulden. In Dutch Indonesia 4 duit pieces were equal to one stuiver. To prevent smuggling, the Dutch East India Company (VOC) ordered special coins with their monogram embossed upon them. Only those pieces were valid in Indonesia. It was once used in the Americas while under Dutch rule. The single largest recipient of Dutch duit coins was Java. Ceylon and Malabar did also circulate the coins. As the monetary unit was widespread throughout the Malay archipelago.The duit is also referred to as the "New York penny" due to its use as a Colonial monetary unit in Dutch New Amsterdam (later New York) and for years later, long after Dutch rule had passed. It was part of the coinage used to purchase the island of Manhattan from the locals. DUTCH EAST INDIA COMPANY The Dutch East India Company (Vereenigde Oostindische Compagnie, VOC), "United East India Company") was a chartered company established in 1602 when the States General of the Netherlands granted it a 21-year monopoly to carry out trade activities in Asia. It is sometimes considered to have been the first multinational corporation in the world, and it was the first company to issue stock. It was a powerful company, possessing quasi-governmental powers, including the ability to wage war, imprison and execute convicts, negotiate treaties, strike its own coins, and establish colonies. Statistically, the VOC eclipsed all of its rivals in the Asia trade. Between 1602 and 1796 the VOC sent almost a million Europeans to work in the Asia trade on 4,785 ships, and netted for their efforts more than 2.5 million tons of Asian trade goods. By contrast, the rest of Europe combined sent only 882,412 people from 1500 to 1795, and the fleet of the English (later British) East India Company, the VOC's nearest competitor, was a distant second to its total traffic with 2,690 ships and a mere one-fifth the tonnage of goods carried by the VOC. The VOC enjoyed huge profits from its spice monopoly through most of the 17th century. Weighed down by smuggling, corruption and growing administrative costs in the late 18th century, the company went bankrupt and was formally dissolved in 1799. Its possessions and debt were taken over by the government of the Dutch Batavian Republic.
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