The Vreneli: Guide to the Swiss gold coin

The Vreneli (Helvetia, or 'Swiss 20 Francs Gold') is the iconic gold coin of the Swiss Confederation. Struck between 1897 and 1936 by the Mint in Bern, it is made of 900‰ gold (21.6 karats) and weighs 6.4516g, containing 5.8064g of fine gold.

Intrinsic Value: At the current price of CHF 82.50/g, the spot value of a Vreneli is CHF 82.50 × 5.8064 = CHF 479.03. Market premium generally adds 5 to 15% depending on the minting year.

VAT Exemption: Gold > 995‰ is VAT-exempt in Switzerland, but the 900‰ Vreneli is on the limit. Swiss tax practice considers it 'legal tender gold coin' and exempts it in most cantons. Check with your tax advisor.

Buying/Selling: Cantonal banks, PostFinance, Degussa Zurich, and GoldAvenue offer Vrenelis with comparable premiums and liquidity. The secondary market is very active — the bid/ask spread is typically 2 to 4%.