Order of the Golden Fleece

The Distinguished Order of the Golden Fleece (Spanish: Insigne Orden del Toisón de Oro, German: Orden vom Goldenen Vlies) is a Catholic order of chivalry founded in 1430 in Brugge by Philip the Good, Duke of Burgundy, to celebrate his marriage to Isabella of Portugal. Today, two branches of the order exist: the Spanish Fleece and the Austrian Fleece. The current grand masters are King Felipe VI of Spain, head of the House of Bourbon-Anjou and Karl von Habsburg, head of the House of Habsburg-Lorraine. The Grand Chaplain of the Austrian branch is Cardinal Christoph Schönborn, Archbishop of Vienna.

The separation of the two existing branches took place as a result of the War of the Spanish Succession of 1701–1714. The grand master of the order, Charles II of Spain (a Habsburg), had died childless in 1700, and so the right to succeed to the throne of Spain (and incidentally to become the Sovereign of the Order of the Golden Fleece) initiated a continental conflict. On one hand, Charles, brother of Holy Roman Emperor Joseph I, claimed the Spanish crown as an agnatic member of the House of Habsburg, which had inherited the Burgundian titles and had held the Spanish throne for almost two centuries. However, the late king of Spain had named Philip of Bourbon, his sister's grandchild, as his successor in his will. After the conclusion of the war in 1714, the European powers recognized Philip of Bourbon as King of Spain, but the old Burgundian Habsburg territories became the Austrian Netherlands (1714–1797), and with them went the Treasure of the Order and its archive. The two dynasties, the Bourbons of Spain and the Habsburgs of Austria, have ever since continued heading the separate orders of the Golden Fleece.

The Golden Fleece, particularly the Spanish branch, became one of the most prestigious and historic orders of chivalry in the world. De Bourgoing wrote in 1789 that "the number of knights of the Golden Fleece is very limited in Spain, and this is the order, which of all those in Europe, has best preserved its ancient splendour". Each collar is solid gold and is estimated to be worth around €50,000 as of 2018, making it the most expensive chivalrous order. Current knights of the Spanish order include Emperor Akihito of Japan, former Tsar Simeon of Bulgaria, and Princess Beatrix of the Netherlands, among 13 others. Knights of the Austrian branch include King Philippe of Belgium, his father former King Albert II, and Grand Duke Henri of Luxembourg, among 22 others.