The 1906 Baden 5 Mark silver coin was issued by the Grand Duchy of Baden under Grand Duke Friedrich I to commemorate his and Grand Duchess Luise’s Golden Wedding Anniversary. This piece, struck at the Karlsruhe Mint, remains one of the most admired and sought-after commemoratives of the German Empire for its design quality, historical appeal, and scarcity in high grade.​

The coin is composed of .900 fine silver, weighs 27.78 grams, measures 38 mm in diameter, and contains approximately 0.8037 troy ounces of silver. With a limited mintage of only 60,000 pieces, it’s significantly rarer than most contemporary imperial issues. The obverse features confronting busts of Friedrich and Luise, symbolizing their five decades of marriage and the longevity of the Baden line. The reverse bears the detailed Imperial German Eagle with a crowned shield and a surrounding order chain, framed by the “GOTT MIT UNS” edge inscription.​

Graded PCGS MS65, this specimen sits in the top tier of surviving examples, displaying brilliant flashy luster and vivid orange-blue rainbow toning typical of silver coins that have toned naturally in album storage over a century. The color combination and reflectivity create exceptional visual appeal and often command strong collector premiums at auction.

In current numismatic markets, untoned pieces in MS65 condition generally sell for $700–1,100, while attractively toned examples can exceed $1,500–2,500, driven by eye appeal and surface preservation. Exceptional “monster toned” coins, especially those with bright pastel or multi-hued toning, occasionally realize over $3,000 in specialized world coin auctions.​

In summary, the 1906 Baden Friedrich I 5 Mark represents one of the finest commemorative issues of the German Empire. A PCGS MS65 example with gorgeous orange and blue toning and strong luster is a premium-quality piece, combining artistry, rarity, and historic symbolism in a way few early 20th-century European issues can match.​