Owner Comments:
Mintage: 3,000,000.
Type 1: "sin barba" ("without beard"). Portrait of Alfonso XII at age 18. Engraved by Gregorio Sellán.
Variety 2: EMM (Escosura, Morejón, Mendoza).
Mid-year 1878, Morejón replaced Diaz as one of two mint assayers. Hence the identifying initials "EMM" replaced "DEM" and 1878 has two varieties.
NOTE: Some catalogues (e.g., Aledón) list 1878 mintage at 5,000,000 DEM and 3,192,442 EMM, rather than 5,192,442 DEM and 3,000,000 EMM.