The Waag was built around 1686 to uniformly weigh and levy taxes on goods arriving in the colony. It was located in the harbour near the warehouses of the Dutch West India Company, and was initially a basic building. It which was extended several times, and a wharf was constructed nearby on the Suriname River.[1]

In January 1821, a fire consumed a large part of the city centre including de Waag[5] An architectural competition was organized to rebuild the building.[1] Willem de Vroome was the architect in charge of the rebuilding,[2] and in 1824, the current building was completed.[6]