This prescription was retained as to the gulden in the more important Act of 26th November 1847.
This Act definitely established the silver standard. The standard coins were declared to be the gulden (and its half) and the rijksdaalder (= 2 1⁄2 guldens). The gold William and the gold dukaat were declared to be trade money, and the minor or divisional silver coins (25 cents and under) were fixed at a fineness of .645. The gold William was to weigh 6.729 grms., .900 fine (content of pure gold, therefore, to be 6.056 grms.). The gold dukaat was to weigh 3.494 grms., .983 fine (therefore to contain 3.4345 grms. fine gold).
The coinage of standard silver coins, and of gold trade coins, was left free to individuals (Article 18). The trade money was expressly declared to be no legal tender (geen wettig betaalmiddel, Article 20).
The tender of silver divisional coins was limited to 10 guldens, and that of copper coins to 1 gulden.
This silver standard continued in force until 1872. In that year, however, in consequence of the fall of silver, a Bill was passed to suspend the coining of silver for private accompt. The Mint was closed to its coinage, and for a time Holland had no metallic standard at all, as gold was only merchandise or trade money. This state of things led Page 355 to the enactment of the law of 6th June 1875, which introduced the gold standard, but under peculiar arrangements.
The standard coins were declared to be—beside, or in addition to, the silver standard coins minted previously to the new law—the gold 10-gulden piece, .900 fine, containing 6.048 grs. fine gold (weight, therefore, 6.720 grms.).
The minting of these latter was declared free to the individual, and the minting of the gold Williams ordered to cease (Articles 5 and 6).