Swiss 20 Franc: specifications, value and where to buy
The Swiss 20 franc "Vreneli" is a gold coin struck in Bern from 1897 to 1949. It weighs 6.45 g, is 90% gold and contains 0.1867 troy ounce (5.805 g) of pure gold, measuring 21 mm across. Common dates trade as bullion: on 11 October 2026 Chards listed mixed dates at 3.9% above gold value.
Switzerland's 20 franc coin carries one of the best-known faces in European coinage: a young woman's head, nicknamed Vreneli. More than 58 million were made. Because so many survive in good condition, the Vreneli has become a popular small gold coin across Europe, especially for people who want something smaller than a 1/4 oz coin.
What are the specifications of the Swiss 20 franc coin?
| Issuer | Swiss Confederation, struck at the Federal Mint in Bern (mint mark B) |
|---|---|
| Years | 1897 to 1949 (coins issued after 1936 are restrikes) |
| Face value | 20 Swiss francs (legal tender until 29 September 1936) |
| Weight | 6.45 g |
| Fineness | 900 (90% gold, 10% copper), 21.6 carat |
| Fine gold | 5.805 g (0.1867 troy oz) |
| Diameter | 21 mm |
| Thickness | 1.3 mm |
| Designer | Fritz Ulysse Landry (design dated 1895) |
| Total issue | 58.6 million |
Sources: numismatic references (see sources); weight, fineness and gold content also as listed by Chards. Fine gold in ounces: 6.45 g × 0.900 ÷ 31.1035.
The coin follows the Latin Monetary Union standard, the system of interchangeable gold and silver coins that France, Belgium, Italy and Switzerland set up in the 1860s, based on the French franc introduced under Napoleon. That is why a Vreneli, a French 20 franc Rooster and other Union 20 franc coins all contain the same amount of gold. Before the Vreneli, Switzerland struck a 20 franc with a Liberty head by Albert Walch from 1883 to 1896, often also called the "Helvetia".
What is a Swiss 20 franc coin worth today?
| Quantity | GBP | USD | CAD | AUD |
|---|---|---|---|---|
| 1 coin | ... | ... | ... | ... |
| 10 coins | ... | ... | ... | ... |
Spot-based melt values, not dealer prices. Last updated: Loading. Our coin melt value calculator works for any quantity.
What do dealers charge? Bullion vs numismatic pricing
Most Vrenelis sell as bullion, with a small premium over gold value. A specific date costs more, and rare dates are collector coins. We captured Chards' single-coin prices with an automated check at 11:34 to 11:35 UTC on 11 October 2026, with gold at £3,171.45 per ounce (gold-api.com). The gold in one coin was worth £592.11.
| Product | Price | Premium over gold | Stock |
|---|---|---|---|
| Swiss 20 francs, best value (date of dealer's choice) | £615.44 | 3.94% | Out of stock |
| 1935 Swiss 20 francs (specific date) | £650.95 | 9.94% | Out of stock |
Our premium uses gold-api.com spot; Chards calculates its own displayed premium from its own spot price, so its percentages differ slightly. Both products were listed as out of stock, so these are listed prices, not prices you could pay at that moment.
For comparison, a Full Sovereign, holding 0.2354 oz of gold, cost 4.14% over gold value at Chards in our GoldVetted price check, 10 October 2026. A best value Vreneli was priced similarly, despite holding about a fifth less gold. Read bullion vs numismatic coins before paying a date premium.
How is the Swiss 20 franc taxed?
| Country | When you buy | When you sell at a gain |
|---|---|---|
| United Kingdom | No VAT Investment gold coin: post-1800, 90% gold, former legal tender, under 180% of gold value (Notice 701/21A) | CGT applies Not sterling, so not exempt (CG78305) |
| United States | State sales tax rules vary | Collectible rate up to 28% if held over a year (IRS Topic 409) |
| Canada | GST/HST applies 90% gold is under 99.5% (CRA 17.1) | Gains generally taxable |
| Australia | GST applies Under 99.5% fineness (GSTR 2003/10) | Generally subject to CGT |
UK buyers comparing small coins should note the CGT difference: a Half Sovereign holds a similar amount of gold (0.1177 oz) and is free of CGT, while the Vreneli is not. In the US, the Vreneli cannot go in an IRA, because section 408(m) only exempts listed US coins and bullion meeting futures-delivery fineness, and 90% gold does not meet it.
Which years and varieties exist?
| Issue | What to know |
|---|---|
| 1883 to 1896 Helvetia (Liberty head) | Predecessor design by Albert Walch |
| 1897 to 1936 Vreneli | Regular issues for circulation |
| 1926 | Mintage 50,000; often called the key date, but references say it is fairly available |
| 1903 and 1904 | Scarcer in practice than the 1926 |
| 1935 (regular) | 175,000 struck |
| L1935B | 20,008,813 restrikes struck 1945 to 1947; common bullion coin |
| 1947 and 1949 | Post-legal-tender issues; 9.2 million dated 1947 |
How do you spot a fake Vreneli?
- Weigh and measure: 6.45 g, 21 mm across, about 1.3 mm thick.
- Look at the fine detail. Genuine coins show crisp detail in the hair and background; soft or grainy detail is a warning sign.
- Be wary of rare dates. A 1926, 1903 or 1904 offered without certification needs checking by an expert or a grading service.
- Buy from established dealers rather than unverified private sellers.
See how to tell if gold is real for home tests.
Where can you buy Swiss 20 franc coins?
In the UK, Chards lists best value and specific-date Vrenelis (both were out of stock at our check), and Atkinsons Bullion and BullionByPost sell international gold coins. In the US, large dealers stock European gold less consistently than US coins. If you are new to gold, compare the Vreneli with simpler choices in best gold coins for beginners, read gold coins vs gold bars, and see the French 20 franc Rooster, which holds the same gold. Our all gold coin guides page lists every coin we cover.
Pros and cons
Pros
- Common dates trade close to gold value
- Small, widely recognised coin
- VAT free in the UK
Cons
- CGT in the UK; sales tax in Canada and Australia
- Not IRA eligible
- Stock comes and goes; both Chards lines were out of stock on 11 October 2026
Frequently asked questions
How much gold is in a Swiss 20 franc coin?
About 0.1867 troy ounce, or 5.805 g, of pure gold. The coin weighs 6.45 g and is 90% gold, 10% copper. It was made to the Latin Monetary Union standard, so it holds the same gold as a French 20 franc Rooster.
Why is it called the Vreneli?
Vreneli, a Swiss German pet form of the name Verena, is the popular name for the young woman on the coin's obverse, designed by medallist Fritz Ulysse Landry. Dealers use Vreneli, Goldvreneli and Swiss 20 franc interchangeably.
Is the 1935 L-B Vreneli a restrike?
Yes. Coins marked L1935B were struck in 1945, 1946 and 1947, more than 20 million in total, after the coin stopped being legal tender in 1936. They are official Swiss restrikes and trade as bullion. Ordinary 1935 coins without the L were a much smaller regular issue.
Which Swiss 20 franc dates are rare?
The 1926, with a mintage of 50,000, is often called the key date, though references note it is fairly available. The 1903 and 1904 are scarcer in practice. Rare dates should be bought certified and are priced as collector coins, not bullion.
Is the Swiss 20 franc coin still legal tender?
No. It stopped being legal tender on 29 September 1936. It still qualifies as investment gold for UK VAT purposes, because HMRC's rules cover coins that are or have been legal tender in their country of origin.
Sources
We checked these primary and official sources when writing and fact-checking this page.
- Wikipedia: Vreneli (specifications, mintages, restrikes, legal tender end date)
- Chards: Gold Swiss 20 Francs best value, secondary market (price captured 11 Oct 2026)
- Chards: 1935 gold Swiss 20 francs bullion coin (price captured 11 Oct 2026)
- HMRC VAT Notice 701/21A: Investment gold coins
- HMRC Capital Gains Manual CG78305
- IRS Topic 409: Capital gains and losses
- 26 US Code 408(m): IRA collectibles rule
- Canada Revenue Agency: GST/HST Memorandum 17-1
- Australian Taxation Office: GSTR 2003/10
Not financial advice. GoldVetted provides general information to help you compare options. It is not personal financial, tax or legal advice. Gold prices go down as well as up, and you may get back less than you pay. Check tax rules with the official source or a qualified adviser before you act.