20 Swiss francs Vreneli — gold, 1897-1949, second choice
A historic Swiss circulating coin holding 5.806 g of fine gold at 900 fineness. Struck between 1897 and 1949 in a total of about 58.6 million pieces, which makes it one of the most commonly encountered gold coins in Europe. Offered as second choice.
Technical specification
| Specification |
Value |
| Fine gold weight |
5.806 g |
| Total weight |
6.45 g |
| Fineness |
900 |
| Face value |
20 Swiss francs |
| Diameter |
21.00 mm |
| Year |
1897-1949, mixed |
| Mint |
Bern Mint |
| Condition |
second choice |
What second choice means
Second choice describes a coin that does not meet mint-state criteria: it may show handling marks, fine scratches, discolouration, or damaged or missing packaging. Weight, fineness and metal content are exactly the same as on a first-choice piece — the difference is appearance, not metal.
That feeds straight into price: the markup over the metal quote is markedly lower on second choice. For someone buying metal rather than condition, it is the cheapest route to a bullion coin. For a collector, it is not.
On resale, buyback values second choice below mint state but still against the current metal quote, because metal content is what counts.
Historic gold — why 900 rather than 999.9
Circulating coins of the nineteenth and early twentieth century were struck from an alloy of 900 fineness, nine parts gold to one part copper. The reason was practical: pure gold is too soft for daily circulation and would wear away in pockets and purses. Copper adds hardness and a slightly warmer tone.
The consequence for a buyer is simple: the coin's total weight exceeds its fine gold content, and the second figure is what determines value. On bullion coins struck today the two are nearly equal; on historic coins they are not.
Vreneli — who the woman on the obverse is
The obverse was designed by Fritz Ulysse Landry. It shows Helvetia — the female personification of Switzerland — as a young woman with a braid against an alpine landscape. The diminutive Vreneli derives from the name Verena and attached itself to the coin in common usage.
The reverse shows the Swiss coat of arms on a shield, framed by oak branches standing for strength and endurance.
Original pieces carry twenty-two stars on the edge. Later restrikes carry the edge inscription AD LEGEM ANNI MCMXXXI, referring to the law of 1931 — the simplest way to tell the two groups apart.
Why GoldInvest24
We source from state mints and LBMA-accredited producers, in original packaging. Every shipment is insured and packed discreetly, with no markings indicating the contents. We also run a gold and silver buyback. Current quotes are on our gold price page.
Frequently asked questions
How does second choice differ from mint state?
In appearance, not in metal. There may be handling marks, fine scratches, discolouration or damaged packaging. Weight, fineness and metal content are identical.
Will I receive a specific year?
No. This item is supplied from coins of mixed years, depending on the delivery.
Do you buy back second choice?
Yes. It is valued below mint state but still against the current metal quote, because metal content is what counts.
Is VAT charged on this coin?
In Poland gold meeting the conditions for bullion is exempt from VAT under Article 122 of the VAT Act.
Do you buy this product back?
We buy back gold and silver. The buyback price follows the current metal quote and the condition of the product together with its packaging.
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