The copperplate was not in any of the major collections and is probably not in existence.

This etching is a typical example of Rembrandt’s expertise to combine the real and the imaginary world. The buildings look like farmhouses in the surroundings of Amsterdam, while the hills look more like the Utrechtse Heuvelrug, the hilly area east of Utrecht. In 1649 Rembrandt travelled with Hendriekje Stoffels to her parents, living in Winterswijk. The roads they took are recognizable in a series of landscapes made in this period. See, f.i. B235, Landscape with two swans. Rembrandt produced these combinations of reality and imagination for two more years.
Dutch painters often included ruins in their pictures, as a remembrance to transience. But the past and present come together in such a harmonious way that is questionable if Rembrandt had this in mind when he made this etching.

Based on the shape of the tower Vosmaer suggested that the site represents Ramsdorp, a village north of Amsterdam. But later authors, following Six, have doubted this. Lugt and Van Regteren Altena are of the opinion that the tower is modelled after the old townhouse of Amsterdam.

Rembrandt made two drawings showing the townhouse of Amsterdam (Benesch 1278, in the Rembrandthuis and 1275, in the Albertina) with a great similarity with the tower in this print.

NH lists three copies in the same direction. Copy B is by Louis Gervais Marvy, inscribed Louis Marvy d’apres Rembrandt f|1843 (91 x 159 mm, WB 3). Copy C is by Leopold Flameng (in Blanc’s catalogue, 90 x 155 mm, WB 1). Copy D is  anonymous (118 x 189 mm, WB 2)
There is one copy (A) in reverse, by Francis Vivares (his nr 4, 98 x 163 mm, WB 4).

The etching is considered as special by Coppier, Rovinsky, De Claussin, Wilson, Blanc and Singer.

NH and Nowell-Usticke list three states, most other authors four, Rovinsky five. All contemporary.
In the 1st state (NH, WB, R590, NU) there is a white bush at the bottom of the tower right. The upper part of the wall to the right of the tower is light, the lower part is dark.
In the 2nd state (NH, WB, R591, NU) the left side of the bush is covered with vertical lines. The shading on the upper part of the wall at the right-hand side is stronger. There seems to be a rain of vertical scratches above the tower, but these are often wiped away.
In the 3rd state (NH, WB, R593, NU) the white tops of the tree right are covered with shading. There are many stripes in the sky.
In the 4th state (WB, R592) a slipped stroke crosses the ‘b’ of the signature, in later impressions this stroke has worn away. Since this is not a deliberate addition, it should not be considered a separate state, according to Hinterding.
The 5th state of Rovinsky (594) is a refined version of the 4th state, according to Münz.

There are only six impressions of the 1st state, three of which are on Japanese paper.
Of the 2nd state only two impressions are known, one of which is in the British Museum and the other was at an auction with Klipstein and Kornfield in 1994 (lot 243).
Hinterding states that at least five series were printed of the 3rd state, all in small numbers. He lists 24 early and also 24 somewhat later impressions (WB 4th state).

In the 1st state: Foolscap.
In the 2nd state: Arms of Amsterdam wit cm IFD’; Foolscap with five-pointed collar, also with cm LB (c. 1650); Strasbourg lily.
In the 3rd state: Posthorn with IR; Strasbourg lily.

H 245, BB 50-C, G 210, M 321, Mz 158, RA 590-594, Cl 215, W 215, Bl 319, Du 215, CD 203, S 95.
Van Regteren Altena, Catalogue of the exhibition Rembrandt, Florence 1951, nr 29; B.Bakker 1995; Hinterding 2008, p. 399-401;

NH: 3rd and final state/WB: 4th and final state
A good, light and probably somewhat later impression. Slight traces of grey wash at the right side of the tower and a thin grey line upper right. A small stain (adhesive residue?) in the margin upper left.
Sheet 94/95 x 161/159 mm, narrow margins of 1 to 2 mm on the left and right sides, somewhat broader margins on top and bottom (+17%).
No watermark, vertical chain lines.

In the collection of the German art dealer Wilhelm Eduard Drugulin (1825-1879, Leipzig, Lugt 2612) his collector’s stamp in blue ink vaguely visible in the centre of the lower margin, verso.
In the collection of G.A.H. Buisman Jzn;

The Rotunda at Exchange Square, Hong Kong, January 2008
Rembrandt in Zwart-Wit, Het Markiezenhof in Bergen op Zoom, August – November 2013;
Rembrandt in Black & White, Schloß Britz (Berlin), Bozar Expo (Brussels), November 2015 – May 2016;
Rembrandt, fotograaf avant-la-lettre, Museum De Reede (Antwerp), January – May 2023;
Rembrandt, 17th century photographer, Daegu Art Museum (Korea), November 2023 – March 2024;
Rembrandt, de fotograaf, Westfries Museum (Hoorn), June 2024 – January 2025;