Vreneli

The Vreneli is regarded as the best-known Swiss gold coin and is closely tied to the country's history. The name derives from "Verena" — the first name of the female allegory of Helvetia shown on the obverse, whom popular speech quickly shortened to "Vreni" or "Vreneli". The coin was first put into circulation in 1897 and struck regularly until 1949; individual years were produced in very small numbers and are numismatically valuable today. No longer legal tender in daily use, the Vreneli nevertheless trades widely on the precious-metals market and ranks as a classic bullion coin across Europe.

Technical data and denominations

The Vreneli appeared in three face values, of which the 20-franc piece is by far the most common and most liquid:

All three denominations share the same fineness of 900/1000 (21.6 karat). For comparison, the British sovereign and the South African Krugerrand are made of so-called crown gold (22 karat, 916.7/1000) and are therefore slightly richer in fine gold than the Vreneli. The copper share of 100/1000 raises abrasion resistance and gives the coin the warm red-gold tone typical of this alloy.

Working out the melt value

The material value of a 20-franc Vreneli follows directly from the current gold price and the fine weight:

Melt value = gold price (EUR/g) × 5.806 g

At a gold price of EUR 85/g, for example, the melt value works out at around EUR 494. The actual market offer usually sits above this, since recognition and trading liquidity justify a premium. You can work out the current melt value quickly with the melt-value calculator.

Market standing and liquidity

The Vreneli sits alongside the Krugerrand, the Vienna Philharmonic and the Maple Leaf among the best-known investment coins in Europe. Notable features:

• High liquidity: banks, coin dealers and bullion merchants in Switzerland, Germany and Austria accept the Vreneli at any time.
• Tax treatment (Ireland): as investment gold the Vreneli is exempt from VAT in the EU (VAT Consolidation Act 2010, Schedule 1; EU Directive 2006/112/EC, art. 344–356). Note: this is not tax advice — please consult an adviser for your own situation.
• Capital gains: a private individual's gain on selling gold in Ireland is liable to Capital Gains Tax at 33%, after the annual personal exemption of EUR 1,270; there is no holding-period relief (unlike Germany's one-year rule). Again, this is not tax or investment advice.
• Year-to-year differences: rare years (for example the 100-franc pieces of 1925, or certain 10-franc dates) command substantial numismatic premiums; for investors the widely available 20-franc piece is what matters most.

Authenticity checks

Because the Vreneli has a long minting history and circulated in large numbers, forgeries exist. Key checks:

1. Weight: the 20-franc piece must weigh exactly 6.452 g. Deviations of more than 0.05 g are suspicious.
2. Diameter and thickness: 21.0 mm across, 1.25 mm thick — verifiable with a good calliper.
3. Ping test: genuine gold gives a muffled, short ring when tapped; tungsten or lead sound different.
4. Magnet test: gold is not magnetic — if a magnet pulls the coin, it is not a gold coin.
5. Density test: gold has a density of about 19.32 g/cm³; an Archimedes measurement exposes fakes with a tungsten core.

For a quick check of weight and dimensions, use the coin weight verification or the coin authenticity check.

In brief

The Vreneli is one of Europe's most storied gold coins: with 5.806 g of fine gold, high trading liquidity and VAT exemption, it is a solid core holding for investors who prefer physical gold. The common 20-franc piece is easy to test and readily sold in many places.