Settling of the Huguenots and Walloons in the New World was the occasion commemorated by this issue. New Netherland, now New York, was founded in 1624 by a group of Dutch colonists. The persons represented on the obverse were not directly concerned with the occasion, however. They are Admiral Coligny and William the Silent. The reverse shows the vessel Nieuw Nederland. George T. Morgan prepared the models for this coin.