In 1991, Pelikan introduced the Toledo M900. The model was similar in design and motif to the Toledo M700, but was based on the larger M800. So, the M900 is sometimes referred to as the "Big Toledo". The construction of the Toledo M900 was almost identical to that of the M800, the main differences being the sleeve (made of sterling silver and engraved with 24 carat gold pelican motifs), the two cap rings (made of staring silver, and the wider ring was engraved with ”TOLEDO”"925"), and the two rings on the turning knob (made of sterling silver). As with the Toledo M700, the ink window was green, and there were a unique serial numbers and the engraver's initials on the sleeve near the piston knob. Unlike the Toledo M700, the clip, crown, and rings were not matte-finished, but glossy.

Unlike the Toledo M700, the Toledo M900 was initially a limited edition; the M900 was labeled the “TOLEDO M900 COLLECTORS' EDITION” and was sold in a limited 500 pieces for the North American market⁽¹⁾ at $1,200. The limited edition had a 18 carat gold nib, and its cap ring was engraved “W.-Germany”. The sleeve engraving near the piston knob lacked the "925". These 500 pens came with a certificate declaring their exclusivity and rarity. The certificate was signed and dated by the inspector. A sales brochure advertising the rarity of this release was also available at the time. These Pelikan documents unmistakably show how the model was intended to be a limited release (Pelikan’s Perch). The limited edition sold out quickly. However, a few years later Pelikan re-released the M900 as a regular model⁽²⁾. Interestingly, the initial lot included pens with a 20 carat gold nib⁽³⁾, but later all nibs were returned to 18 carat gold. The cap ring was engraved "Germany"(Pelikan’s Perch, Pelikan-collectibles). As of 1997, the price was $1075, $125 less than the original. It is not hard to imagine that collectors who purchased the first limited edition felt betrayed by this re-release and felt that the value of the limited edition had been compromised (Pelikan’s Perch)⁽⁴⁾. However, this was not the first case for Pelikan fountain pen that an initially limited edition later became a regular model⁽⁵⁾. In any case, the Toledo M900 has been in production for a long time since then, with slight specification changes. Limited edition buyers may have ended up with an unfavorable deal, but the rest of the community certainly benefited from the wider availability of this gorgeous pen (Pelikan’s Perch).
 
The Toledo M910 was introduced in 1992 (Pelikan Schreibgeräte). Originally, the Toledo M910 (and M710) were produced for Ebel watch company, and were only later listed in Pelikan's own catalog (Pelikan Schreibgeräte). In Japan, it was listed as "Gran Toledo M910 Silver"("gran" is Spanish and means the same as grand) (Euro Box, 万年筆評価の部屋). Except for a bicolor rhodium-plated 18 carat gold nib, the model had an all-silver finish. Like the Toledo M700, the pelican motifs on the sleeve were different form those of M900. The M910 was discontinued as a regular product in 1999, but has since been re-released as a limited edition product in several different colors. In recent re-release, the nib was changed to a monochrome rhodium-plated 18 carat gold to match the design (e.g. the Toledo M910 White) (KINGDOM NOTE).

Since 1991, the Toledo M900 has been produced in small quantities for more than 30 years and has become one of the icons of the Pelikan fountain pens.

Note;⁽¹⁾It is also mentioned that another 500 pens were sold to foreign markets (Pelikan’s Perch).
⁽²⁾It is not known from the documents available when the Toledo M900 was re-released as a regular model. However, it is listed in the 1995 Japanese Pelikan catalog  at the latest (万年筆評価の部屋).
⁽³⁾A 20 carat gold nib was first used in the Souverän M800 commemorating the 120th anniversary (1989) of Maruzen, one of Japan's leading bookstore and stationery store. Next, it was used in the Souverän M800 commemorating the unification of East and West Germany (1990). "The 20 carat gold nib has a shallower engraving and smaller scroll pattern than the 18 carat gold nib. The position of the feed relative to the nib is the same, but in the 18 carat gold nib, the tip of the scroll pattern and the tip of the feed are the same, while in the 20 carat gold nib, the tip of the feed comes out a few millimeters in front of the tip of the scroll pattern (Fig.7) (万年筆評価の部屋)".
⁽⁴⁾One such disgruntled collector filed a lawsuit against Pelikan-USA. For more information, please refer to Pelikan’s Perch.
⁽⁵⁾The M760 and its sibling, the M750, were introduced to commemorate Pelikan's 150th anniversary (1988). The early models had "1838-1988" engraved on the cap tube rim. Later, the engraving of the Jubilee years was omitted on becoming regular models.