25 Pesetas "Alfonsina"
The so-called Latin Monetary Union (LMU) was created at the initiative of France on December 23, 1865. This LMU, led by Emperor Napoleon III, and made not only to favor the free circulation of the different currencies among the member countries but also to create a common European space between Great Britain and the emerging German Empire, promoted by Prussia, was initially constituted by France, Italy, Belgium and Switzerland, and later joined by Greece in 1868.
All these countries undertook to make their coins interchangeable, establishing a ratio between gold and silver of 1/15.5, respectively. Thus, coins of the same value also had the same weight, metal grade, and module as those of the same value in the other countries. A gold coin of 20 French francs was interchangeable with a gold coin of 20 Italian lire, 20 Greek drachmas, or 20 Belgian or Swiss francs.
Although never a full member of the LMU, Spain joined the economic model advocated by France in 1868, debuting a new monetary unit (La Peseta) under the mandate of the Provisional Government that led the country after the recent overthrow and expulsion of Isabel II.
That new monetary system advocated by the LMU was based on the French system, the most economically powerful country at the time. It minted gold coins of 100 francs weighing 32.25 grams of 900 thousandths gold, 50 francs weighing 16.12 grams, 20 francs weighing 6.45 grams, 10 francs weighing 3.22 grams, and 5 francs weighing 1.61 grams of gold of the same grade.
However, Spain minted coins of 25 pesetas with the effigy of King Alfonso XII, with a weight of 8.06 grams and a 24 mm module, halfway through the 20 and 50 franc piece. As we can verify by performing some simple mathematical operations, the 25 franc piece would have been proportionally equivalent to 8.06 grams of 900 thousandth gold, precisely this coin’s weight.
The question we could ask ourselves is why Spain decided to mint this module not adopted in the LMU. The only answers I can think of are two: The first, and I think the most important, is that the people were accustomed to a 8 grams gold module, typical of the 100 reales Isabelina (8.33 grams). The second reason is to have a piece with a module comparable to the English pound or gold sovereign (7.98 grams).
Those 25 pesetas coins, commonly known as Alfonsinas, had on their obverse the legend ALFONSO XII POR LA G. DE DIOS (BY THE GRACE OF GOD), the date between two 6-pointed stars (Madrid). At the level of the neck cut, the initials GS (Gregorio Sellan), and the dotted border. On the reverse, the legend REY (KING) CONSTL. OF SPAIN OF 25 PESETAS M. In the center, the crowned shield, surrounded by a collar with Golden Fleece and sheltered under the royal mantle, with the arms of Castile, Leon, Aragon, and Navarre forming four quarters and Granada at the tip of the shield, in the center of the shield, escutcheon of the house of Bourbon, with three fleurs-de-lis. Dotted border. The letters on both sides of the coin’s value (25 Pesetas) correspond to the initials of the assayers’ surnames and the balance. In the case described above DE – M.
The minting of these coins began in 1876, and the direction of the effigy of the King was inverted to establish a difference between the silver and copper coins. In 1881, it was decreed that the effigy of King Alfonso XII be updated, showing a notable difference from the initial piece from 1876.
The 25 Ptas. coin of Alfonso XII is one of the most popular gold coins in Spain, and it is in high demand in the local market. It has even been quoted by foreign collectors who are interested in its artistic, historical, and economic value. It is usually a piece with a premium in its price, which ranges between 10-15%. The 1882, 1883, and 1884 coins are especially scarce and more expensive, and the 1885 (18-85) and 1885 (18-86) coins are much rarer. It is a type of coin that can be used as a future savings, especially those pieces with excellent preservation and quality.
It is important to understand that when we talk about the premium of a gold coin, we are referring to the difference between the intrinsic value of the gold in the coin and its market price. This premium can vary based on several factors, including the coin’s date, mint, condition, and, of course, the laws of supply and demand.
Dr. José Vicente Alcocer, director of Collector Artis, is known for his numismatic research and publications. He has contributed articles to specialized magazines such as “El Eco Filatélico y Numismático”, where he has addressed topics such as the 50 Mexican peso coins.
At NCV Grading, we specialize in the certification and grading of ancient coins. Our mission is to ensure the authenticity and quality of certified coins, providing collectors and dealers with accurate and reliable evaluations.
