diff --git a/AppKit/CPTextField.j b/AppKit/CPTextField.j
index c0abc894c..f0279caa9 100644
--- a/AppKit/CPTextField.j
+++ b/AppKit/CPTextField.j
@@ -258,6 +258,8 @@ CPTextFieldStatePlaceholder = CPThemeState("placeholder");
         [self setStringValue:@""];
         [self setPlaceholderString:@""];
 
+        _originalPlaceholderString = undefined;
+
         _sendActionOn = CPKeyUpMask | CPKeyDownMask;
 
         [self setValue:CPLeftTextAlignment forThemeAttribute:@"alignment"];
@@ -733,6 +735,7 @@ CPTextFieldStatePlaceholder = CPThemeState("placeholder");
 
 /*
     @ignore
+    Sets the internal string value without updating the value in the input element
 */
 - (void)_setStringValue:(id)aValue
 {
@@ -806,16 +809,27 @@ CPTextFieldStatePlaceholder = CPThemeState("placeholder");
         [self setPlaceholderString:[self stringValue]];
         [self setStringValue:@""];
     }
-    else if (_originalPlaceholderString)
+    else if (_originalPlaceholderString !== undefined)
     {
         // Restore the original placeholder, the actual textfield value is already correct
         // because it was set using setValue:forKey:
         [self setPlaceholderString:_originalPlaceholderString];
+        _originalPlaceholderString = undefined;
     }
 
     _currentValueIsPlaceholder = isPlaceholder;
 }
 
+- (void)unbind:(CPString)theBinding
+{
+    if (theBinding === CPValueBinding)
+    {
+        [self _setCurrentValueIsPlaceholder:NO];
+    }
+
+    [super unbind:theBinding];
+}
+
 /*!
     For non-bezeled text fields (typically a label), sizeToFit has two behaviors, depending
     on the line break mode of the receiver.
@@ -1270,6 +1284,8 @@ var CPTextFieldIsEditableKey            = "CPTextFieldIsEditableKey",
         [self setAlignment:[aCoder decodeIntForKey:CPTextFieldAlignmentKey]];
 
         [self setPlaceholderString:[aCoder decodeObjectForKey:CPTextFieldPlaceholderStringKey]];
+        _originalPlaceholderString = undefined;
+
 
     }
 
diff --git a/Tests/AppKit/CPKeyValueBindingTest.j b/Tests/AppKit/CPKeyValueBindingTest.j
index 6944103c6..511c1b7f2 100644
--- a/Tests/AppKit/CPKeyValueBindingTest.j
+++ b/Tests/AppKit/CPKeyValueBindingTest.j
@@ -222,9 +222,23 @@
     [self assert:@"" equals:[textField stringValue] message:@"text field string value should be cleared"];
     [self assert:@"Multiple Values" equals:[textField placeholderString] message:@"text field placeholder should be 'Multiple Values'"];
 
+    [textField unbind:@"value"];
+    [self assert:@"cheese" equals:[textField placeholderString] message:@"text field placeholder should be reset"];
+
+    [textField bind:@"value" toObject:arrayController withKeyPath:@"selection.cheese" options:options];
+
     [arrayController setSelectionIndex:0];
     [self assert:@"yellow" equals:[textField stringValue] message:"text field string value should be 'yellow'"];
     [self assert:@"cheese" equals:[textField placeholderString] message:"text field placeholder should be restored"];
+
+    textField = [[CPTextField alloc] init];
+    [textField bind:@"value" toObject:arrayController withKeyPath:@"selection.cheese" options:options];
+    [arrayController setSelectionIndexes:[CPIndexSet indexSetWithIndexesInRange:CPMakeRange(0, 2)]];
+    [self assert:@"Multiple Values" equals:[textField placeholderString] message:@"text field placeholder should 'Multiple Values'"];
+
+    [arrayController setSelectionIndex:0];
+    [self assert:@"" equals:[textField placeholderString] message:@"empty text field placeholder should be restored"];
+
 }
 
 - (void)observeValueForKeyPath:(CPString)aKeyPath ofObject:(id)anObject change:(CPDictionary)changes context:(id)aContext