This unique specimen pattern was struck in copper from the officially adopted dies to strike the gold issue. It originated from the famous Ernst Otto Horn coin collection that was auctioned by Kunker in Germany in 2015.
The obverse portrays Ludwig I with a crowned shield on the reverse. Prior to being auctioned, the Horn Collection was displayed in the coin cabinet in the Sponselraun in the Neues Gruenes Gewoelbe in Dresden, Germany in 2014 for public display. His collection was considered to be the last known German coin collection privately owned of this rarity and magnitude, comprising of 46,000 coins.
Ernst Otto Horn (1880-1945) assembled one of the finest collections, and this unique specimen special strike of a copper 5 Gulden was from his collection.
Krause lists a gold 1827 Baden 5 Gulden in BU condition at $3,600 and is considered very rare. This unique copper specimen striking was unknown and unlisted prior to the Kunker auction.
PCGS certified it as a specimen strike SP 66 Red Brown and designates the pedigree to Horn. Included is the original Horn tag from his collection when this 5 Gulden was displayed. It is a spectacular, special and unique striking of a 5 Gulden from Baden, Germany.