Albert II, Prince of Monaco
As Monaco's head of state, Prince Albert II is depicted on coins, including collectors' coins, with very rare exceptions. One of the most recent examples is the €5 silver Prince Albert II commemorative coin, the first commemorative coin with his effigy on it, minted in 2008. On the obverse, the prince is depicted in profile with his name on the top of the coin. On the reverse, the Grimaldi coat of arms appears; around it, the words "Principauté de Monaco" (Principality of Monaco) also appear along with the nominal monetary value of the coin.As the prince, his official shortened title is "His Serene Highness Albert II, Sovereign Prince of Monaco"; this does not include the many other styles claimed by the Grimaldi family.
Prince's Palace of Monaco
The successive rulers of Monaco tended to live elsewhere and visit their palace only occasionally. Charles III was succeeded in 1889 by Albert I. Albert married Lady Mary Victoria Douglas-Hamilton, a daughter of Scotland's 11th duke of Hamilton, and his German wife, a princess of Baden. The couple had one son, Louis, before their marriage was annulled in 1880. Albert was a keen scientist and founded the Oceanographic Institute in 1906; as a pacifist he then founded the International Institute of Peace in Monaco. Albert's second wife, Alice Heine, an American banking heiress who was the widow of a French duke, did much to turn Monte Carlo into a cultural centre, establishing both ballet and the opera in the city. Having brought a large dowry into the family she contemplated turning the casino into a convalescent home for the poor who would benefit from recuperation in warm climes. The couple, however, separated before Alice was able to put her plan into action.