Gold Mark / Imperial Coins
Also: Imperial Gold Coin, Wilhelmine Gold Coin, Reich Gold Coin
Gold coins of the German Empire (1871–1915) minted in 900-fine gold (Crown Gold), today legally classified as investment gold and VAT-exempt.
The Gold Mark refers to the gold coins minted by the German Empire between 1871 and 1915 under the unified Coinage Act of 1873. With the founding of the Reich, the Gold Mark replaced the fragmented monetary patchwork of the individual German states and established for the first time a common gold-based currency. Anyone buying or selling Imperial coins today is acquiring not only a piece of history but also VAT-exempt investment gold within the meaning of § 25c UStG.
Coin Denominations and Technical Data
The Empire minted gold coins in three denominations: 5, 10, and 20 Mark. The 20-Mark coin is the most widely circulated and the most relevant variant for investors.
| Denomination | Gross weight | Fine weight | Diameter | Fineness |
|---|---|---|---|---|
| 5 Mark | 1.991 g | 1.792 g | 17.0 mm | 900/1000 |
| 10 Mark | 3.982 g | 3.584 g | 19.5 mm | 900/1000 |
| 20 Mark | 7.965 g | 7.168 g | 22.5 mm | 900/1000 |
All denominations consist of 900-fine gold (Crown Gold) — an alloy of 90% fine gold and 10% copper, which gives the coin the hardness required for circulation. You can conveniently calculate the melt value of your coin using the Melt Value Calculator.
Calculating the Fine Weight
The fine weight is derived directly from the gross weight and fineness:
Fine weight = Gross weight × Fineness
Example 20 Mark: 7.965 g × 0.900 = 7.168 g fine gold
Use the Coin Weight Checker to compare the weight of your coin with the nominal value — deviations of more than 0.1 g may indicate forgeries or heavy wear.
Variety of Issuers
Since the Empire consisted of individual states, different mints struck coins for the Emperor and the ruling princes: Berlin (A), Munich (D), Muldenhütten (E), Stuttgart (F), Karlsruhe (G), Hamburg (J), as well as some mints that no longer exist. The mint mark (mint letter) appears on the reverse below the eagle. Rarer mint letters sometimes command significantly higher premiums on the numismatic market.
Investment Relevance and Tax Treatment
Imperial gold coins meet the EU criteria for investment gold: fineness of at least 900/1000 and minted after 1800. They are therefore VAT-exempt in Germany. The speculative holding period under § 23 EStG for physical gold is one year — gains after the expiry of this period are free from income tax. This note does not replace tax or investment advice.
Checking Authenticity and Condition
Due to their high gold value, forgeries exist. Proven methods include weight and diameter checks as well as the ring test. Further guidance is provided by the Coin Authenticity Check. For collectors, the grade (VF, EF, UNC) is the key price factor; for investors, the primary considerations are the gold price and the contained fine weight.
In Brief
Imperial gold coins combine numismatic collectible value with the intrinsic value of 7.168 g of fine gold (20 Mark) and are considered a classic, tax-advantaged form of physical gold — ideal for investors who want to combine tradition and wealth preservation in a single piece.