The Grundy Collection pedigree on this 1894 Spain 5 Pesetas sets it apart from the worn duros that usually turn up from this date. Spanish silver of the 1890s circulated hard at home and across the colonies, so Mint State survivors are far scarcer than the mintage alone suggests. This crown carries the boyhood portrait of Alfonso XIII that Spanish collectors call the Pelon, struck while his mother Maria Cristina governed as regent. The assayer initials PGV flank the reverse shield and mark the Madrid striking for this date.

The obverse shows the young king facing left, his curly hair rendered in sharp relief against open, evenly struck fields. ALFONSO XIII POR LA G. DE DIOS wraps the rim, with the 1894 date and small six-pointed stars below the truncation. On the reverse, the crowned Spanish arms sit between the Pillars of Hercules, with the PLUS ULTRA ribbon winding across both columns. The castles, lion, chains, and fleurs of the quartered shield all show strong device definition, and the legend REY CONST. DE ESPANA reads boldly around 5 PESETAS.

NGC graded this piece MS-63, and it wears deep original toning in gray, plum, and russet tones that sit undisturbed over the surfaces. Luster stirs beneath the patina in the protected areas around the portrait and the shield, and the few scattered marks are consistent with the grade. Choice Mint State quality with fully original color is the hard part of this date, since cleaned or dipped duros are common in the market. The Grundy Collection label adds a recognized pedigree that collectors of Spanish crowns appreciate. A welcome addition to any collection of Alfonso XIII silver. The coin pictured is the exact coin you will receive.

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