Watch List notes:

WORLD COINS, SPAIN, Alfonso XII (1874-1885), Gold 25-Pesetas 1881 MSM, Madrid, older bearded head right, rev draped arms, mintmark and assayer mark each side, 8.06g (Calicó 14; F 344). Choice almost uncirculated.
ex Åke Lindén collection, Baldwin's Auction 87, May 2014, lot 1615

Estimate: £250-300