With this page we would like to provide you with all the important information and historical background on the famous Swiss 20 Francs Vreneli.
If you would like to sell your Vreneli but want to know beforehand whether there is a rarity among your pieces, then the following descriptions, which we have written as a guide, will certainly serve you. If you are simply interested in the exciting history of the Vreneli, this unique and symbolic Swiss gold coin, you have also come to the right place.
The extensive information provided here is the result of our intensive research in numismatic literature, the Swiss federal archives and the journals and newspapers from the 19th and 20th centuries.
To be of service to you, we have also added useful information on the 10-francs and 100-francs Vreneli (1925) as well as the 20-francs Helvetia to the guide.
20 Francs Vreneli
1897-1949
Stirnlocken-Vreneli
Rarity from 1897
Gondo-Vreneli
Rarity from 1897
Rare mis-struck
Vreneli
Backgrounds
and history
The exciting story
of the creation
The nickname ‘Vreneli’
Origin & association
The Vreneli
production
20 Francs Helvetia
1883-1896
10 Francs Vreneli
1911-1922
100 Francs Vreneli
1925
Would you like to
sell your coins?
If our guide achieves its goal, it should no longer happen to you that you do not recognise a rare ‘Stirnlocken-Vreneli’, which has a value of over 100,000 Swiss francs, and risk to sell it at gold price.
Friendly advice: It could well be that at some point you will find your Vreneli so exciting, unique and charming that you no longer want to be without it. However, that would not be a bad thing, because we would also be delighted to welcome you into the circle of coin collectors.
Obverse: HELVETIA. Bust of a woman to the left, the dress embroidered
with edelweiss, mountains in the background. Lower right margin, signature F. LANDRY, pearl circle.
Reverse: 20 FR. Swiss shield on oak branches between denomination,
below year and mint mark B, pearl circle.
Denomination: 20 Swiss Francs
Period of production: 1897-1949
Mintage: 58’634’255 pieces
Design: Fritz-Ulysse Landry
Inscription on edge 1897-1935: 22 stars
Inscription on edge 1947-1949: *****AD LEGEM ANNI MCMXXXI*
Diameter: 21 mm
Thickness: 1,25 mm
Weight: 6.45 g
Metal: 900/1000 Gold and 100/1000 Copper
Fine Gold weight: 5.80 g
Dies alignment: Opposite strike
The golden colour of the Vreneli can vary from reddish-gold to yellowish-gold. Although the gold content is always 90% (900/1000),
the vintages differ in colour due to the likewise varying admixture of copper (reddish) or silver (yellowish).
1897 – 1898 – 1899 – 1900 – 1901 – 1902 – 1903 – 1904 – 1905 – 1906 – 1907 – 1908 – 1909 – 1910 – 1911 – 1912 – 1913 – 1914 – 1915 – 1916 – 1922 – 1925 – 1926 – 1927 – 1930 – 1935 – 1935 LB – 1947 – 1949
The value of a standard 20 francs Vreneli (except for the rarer 1904, 1905, 1906 and 1926 vintages) is based on the daily rate for gold. This rate develops and changes daily. If you want to sell a Vreneli, you will receive the purchase price, which is usually about 5% below the daily rate. If you want to buy a Vreneli, you must pay the selling price, which is usually about 5% above the daily rate.
Obverse: HELVETIA. Bust of a woman to the left with forelock, the dress embroidered
with edelweiss, mountains in the background. Lower right margin, signature F. LANDRY, pearl circle.
Reverse: 20 FR. Swiss shield on oak branches between denomination,
below year and mint mark B, pearl circle.
Denomination: 20 Swiss Francs
Date: 1897
Mintage: 12 pieces
Design: Fritz-Ulysse Landry
Inscription on edge: DOMINUS*** PROVIDEBIT**********
Diameter: 21 mm
Tickness: 1,25 mm
Weight: 6.45 g
Metal: 900/1000 Gold and 100/1000 Copper
Fine Gold weight: 5.80 g
Dies alignment: Opposite strike
The Stirnlocken-Vreneli or Forelock-Vreneli is an extremely rare pattern of the 20 Francs Vreneli from 1897 and a great numismatic rarity. Only 12 specimens of this pattern where produced. Two specifications make it different from the standard 1897 Vreneli: A Forelock and the inscription on the edge.
The forelock on the portrait on the obverse
On these patterns, the portrait of Helvetia bears an additional forelock which is no longer to be found on the regular stike. You can find out the exciting story about the curl and why it is missing on the other 400’000 pieces minted in 1897 here.
The edge inscription
Instead of 22 stars bears the 20 Francs Stirnlocken-Vreneli following edge inscription: DOMINUS*** PROVIDEBIT **********
With a limited mintage of only 12 pieces and its great historical significance for the history of Swiss currency, the Forelock-Vreneli is one of the most sought-after gold coins in Switzerland. In today’s market, a specimen could fetch between 100,000 and 150,000 Swiss francs in one of our auctions.
If you are in possession of such a rarity and are interested in selling it, please feel free to contact us at any time.
Obverse: HELVETIA. Bust of a woman to the left, the dress embroidered
with edelweiss, mountains in the background. Lower right margin, signature F. LANDRY, pearl circle.
Reverse: 20 FR. Swiss shield on oak branches between denomination, below year and mint mark B, pearl circle.
In the centre of the cross, countermark in the shape of a small cross.
Denomination: 20 Swiss Francs
Date: 1897
Mintage: 29 pieces
Design: Fritz-Ulysse Landry
Inscription on edge: 22 stars
Diameter: 21 mm
Thickness: 1,25 mm
Weight: 6.45 g
Metal: 900/1000 Gold and 100/1000 Copper
Fine Gold weight: 5.80 g
Dies alignment: Opposite strike
The socalled Gondo Vreneli is an extremely rare material pattern of the 20 Francs Vreneli 1897, of wich only 29 specimens were minted. It was minted in Swiss gold, which comes from the Valais gold mine near Gondo on the Simplon Pass.
Two specifications make it different from the standard 1897 Vreneli: The cross-shaped countermark on the reverse and the bright and greenish colour of the gold.
The cross-shaped countermark on the reverse
The Gondo Vreneli has a cross-shaped countermark struck in the centre of the cross on the reverse. This mark is not found on any other Vreneli.
Bright and greenish colour of the gold
The Gondo Vreneli has a lighter and greenish colour due to a different alloy. It contains 92.4% Gondo gold, 4.7% silver and 2.9% copper. The use of silver is the reason for the lighter colour.
With a limited mintage of only 29 pieces and its great historical significance for the history of Swiss currency, the Gondo Vreneli is one of the most sought-after gold coins in Switzerland. In today’s market, a specimen could fetch between 100,000 and 150,000 Swiss francs in one of our auctions.
If you are in possession of such a rarity and are interested in selling it, please feel free to contact us at any time.
Vreneli with manufacturing defects are also considered numismatic rarities. However, minting errors are extremely rare, because the coin manufacturing process was strictly controlled and the quality control was very precise. That is why hardly any minting errors, especially rough minting errors, could slip through the controls. Nevertheless, they do exist, to the delight of today’s coin collectors. We are pleased to introduce you to the different types of minting errors that can occur with the Vreneli:
The regular Vreneli were always produced with an opposite strike. This means that when the gold piece is rotated vertically around its own axis, the motive of the reverse is always upside down. If this is not the case, it is a mis-oriented strike.
How much is a mis-oriented 20 Francs Vreneli worth?
The value of a mis-oriented Vreneli depends on the degree of mis-strike. The greater the degree of twist, the rarer and more valuable such a specimen is.
In today’s market, a strongly twisted Vreneli could fetch over 1,000 Swiss francs in one of our auctions, which is three times the current daily gold price.
In this mis-strike, the obverse and reverse bear the same image, but one of them is incuse, which means that the motif appears in recessed negative.
How much is an incuse double struck 20 Francs Vreneli worth?
This type of mis-strike is of the highest rarity and only know in a couple of specimens.
In today’s market, a Vreneli bearing an incuse double strike could fetch a hammer price between 10,000 and 15,000 Swiss francs in one of our auctions.
The reason for such imprint of impurity are foreign elements that are on the planchet and leave their traces during the minting process. Often these are splinters of wood from the wooden boxes in which the planchets, the unstamped metal rounds, were stored.
How much is a 20 Francs Vreneli with imprints of impurity worth?
The value of a Vreneli with imprints of impurity depends on the extent of the flaw. The larger the marks, the rarer and more valuable the specimen.
In today’s market, a Vreneli with those marks of impurity could fetch a hammer price of 500 up to 1,000 Swiss francs in one of our auctions, which is at least double the current gold daily price.
There are other types of minting errors such as for example: die or planchet defaults, as well as gas inclusions or die breaks.
If you are in possession of a mis-struck Vreneli or would like to know whether an unusual-looking Vreneli is a mis-struck coin, please do not hesitate to contact us. We would be very happy to offer you our know-how in the field of numismatics in the form of a free consultation.
Obverse: HELVETIA. Bust of a woman to the left,
the dress embroidered with edelweiss, mountains in the background. Lower left margin, signature F. LANDRY, pearl circle.
Reverse: 10 FR. The year in two horizontal lines in the centre. Above it the Swiss cross with a radiating wreath, below, adapted to the rounding, two Alpine roses and gentian blossom branches embracing each other. At the bottom of the rim the mint mark B, pearl circle.
Denomination: 10 Swiss Francs
Period of production: 1911-1922
Total mintage: 2’650’056 pieces
Design: Fritz-Ulysse Landry
Edge: Ribbed edge
Diameter: 19 mm
Thickness: 0,90 mm
Weight: 3.226g
Metal: 900/1000 Gold and 100/1000 Copper
Fine Gold weight: 2.90 g
Dies alignment: Opposite strike
The golden colour of the Vreneli can vary from reddish-gold to yellowish-gold. Although the gold content is always 90% (900/1000),
the vintages differ in colour due to the likewise varying admixture of copper (reddish) or silver (yellowish).
The 10 francs Vreneli was minted for the first time in 1911 and for the last time in 1922. This half Vreneli was produced by the Federal Mint in Bern and was considered a common means of payment. A total of 2,650,056 specimens were struck.
1911 – 1912 – 1913 – 1914 – 1915 – 1916 – 1922
The value of a standard 10 francs Vreneli (except for the year 1911) is set on the basis of the rate for gold. This rate develops and changes daily. If you wish to sell a 10 francs Vreneli, you will receive the purchase price, which usually corresponds to the daily rate.
Because the 10 francs Vreneli are less common and therefore more sought-after, buying them is a little different. When you buy a 10 francs Vreneli, you pay the selling price, which is usually around 40 to 50% above the daily rate.
Only the 10 francs Vreneli with the year 1911 have a numismatic collector’s value. A well-preserved example with this date can achieve a hammer price of between CHF 400 and CHF 500 in one of our auctions, which corresponds to a value of three times the daily gold price that a 10 francs example of the years 1912 to 1922 normally has.
If you are in possession of a 10 francs Vreneli from 1911 and are interested in selling it, please feel free to contact us at any time.
Obverse: HELVETIA. Bust of a woman to the left,
the dress embroidered with edelweiss, mountains in the background. Lower left margin, signature F. LANDRY, pearl circle.
Reverse: 100 FR. The year in two horizontal lines in the centre. Above it the Swiss cross with a radiating wreath, below, adapted to the rounding, two Alpine roses and gentian blossom branches embracing each other. At the bottom of the rim the mint mark B, pearl circle.
Denomination: 100 Swiss Francs
Year: 1925
Mintage: 5’000 pieces
Design: Fritz-Ulysse Landry
Inscription on edge: DOMINUS***PROVIDEBIT**********
Diameter: 35 mm
Thickness: 2,2 mm
Weight: 32.258 g
Metal: 900/1000 Gold and 100/1000 Copper
Fine Gold weight: 29.0 g
Dies alignment: Opposite strike
In 1925, the 100 francs Vreneli was minted in a limited series of 5,000 pieces. It is considered the largest and most beautiful gold coin of the Swiss Confederation. This gold coin was not intended to serve as a means of payment, i.e. as a currant coin. Rather, the Federal Council saw the 100 francs Vreneli as a kind of special coinage presented by the Swiss Confederation as a gift of honour or diplomatic gift.
The 100 francs Vreneli is the enlarged exact version of the 10 francs Vreneli.
Because of the limited mintage of only 5,000 pieces, the high artistic value and the fact that it is the largest gold coin of the Swiss Confederation, the 100 francs 1925 Vreneli are highly sought-after and popular worldwide. In the current market, such a specimen would undoubtedly fetch between 10,000 and 20,000 Swiss francs in one of our auctions.
If you are in possession of such a rarity and are interested in selling it, please feel free to contact us at any time.
Obverse: CONFEDERATIO HELVETICA. Classical female head (Libertas) to the left,
with open hair held together by alpine roses and diadem. Diadem with inscription ‘LIBERTAS’. Parallel to the rim to the left of the head is CONFOEDERATIO, HELVETICA to the right of it.
Reverse: Unequal-legged Swiss cross in a slightly projecting shield above a five-pointed star.
To the left of the shield 20, to the right of it FR, below year. The whole in a wreath.
Denomination: 20 Swiss Francs
Period of production: 1883-1886
Total mintage: 1’750’000 specimens
Design obverse: Albert Walch
Design reverse: Christian Bühler
Edge inscription 1883: ribbed edge
Edge inscription 1886-1896: DOMINUS***PROVIDEBIT**********
Diameter: 21 mm
Thickness: 1,25 mm
Weight: 6.45 g
Metal: 900/1000 Gold and 100/1000 Copper
Fine Gold weight: 5.80 g
Dies alignment: Opposite strike
1883 – 1886 – 1887 –1888 – 1889 – 1890 – 1891 – 1892 – 1893 – 1894 – 1895 – 1896
Apart form the rarer vintages of 1887 and 1888, the value of a standard 20 francs Helvetia is determined on the basis of the rate for gold. This rate develops and changes daily.
If you want to sell a 20 Francs Helvetia, you will receive the purchase price, which is usually around 5% below the daily rate. If you want to buy a 20 Francs Helvetia, you must pay the selling price, which is usually around 5% above the daily rate.
If you are in possession of a 20 Francs Helvetia of 1887 or 1888 and would like to sell it, please feel free to contact us at any time.
It is hardly an exaggeration to say that every Swiss person, young or old, knows what a Vreneli is and that almost every Swiss household has at least one copy of this gold coin. There are many unexpected stories and special features in this coin that are unknown to the layman and make this coin particularly exciting.
Worldwide, the Vreneli is one of the few old coins that has remained popular in a modern society. Its endearing nickname ‘Vreneli’, which is still used today as it was 100 years ago, further underlines this unique relationship. Perhaps this special relationship in the unconscious can also be explained by the fact that the Vreneli was presented to good children in Switzerland for generations with benevolence as a godfathers’ gift for baptism and as a Christmas or birthday present. For the relationship is quite different in countries where gold coins had to serve as ‘nest eggs’ in times of war and crisis. In other words, in times that we would rather leave behind and forget today.
The Vreneli was minted for the first time in 1897 and for the last time in 1949. Its nominal value was equivalent to 20 Swiss francs. Until the first 20-francs notes (from 1911) and 5-francs notes (from 1913) were put into circulation, the Vreneli was considered a common means of payment. The gold coins were produced by the Federal Mint in Bern.
The coin design on the obverse and reverse was created by the Neuchâtel medallist and sculptor, Prof. Fritz-Ulysse Landry (1842-1927). On the obverse it shows a bust of a woman to the left (the allegorical figure of Helvetia) against a mountain backdrop and on the reverse the Swiss coat of arms on oak branches.
With a diameter of 21mm and a thickness of 1.25mm, the Vreneli has a weight of 6.45g. The gold alloy used contains 90% fine gold and 10% copper, which corresponds to a content of 5.8g. fine gold. The coins dated 1897 to 1935 bear 22 stars in the edge inscription, representing the 22 Swiss cantons. Those of the years 1947 to 1949 show five stars followed by the Latin legend AD LEGEM ANNI MCMXXXI and another star, which means ‘according to the law of 1931’. We will explain why the border inscription is different in another section.
The dies alignment is so-called opposite strike. This means that when the coin is rotated around its own vertical axis, the reverse is always upside down. If this is not the case, the coin is a mis-strike.
The Vreneli was minted for 53 years, but with strong variations in the annual mintage figures. Economic and political reasons meant that production was also interrupted several times. A total of 58,634,255 Vreneli were minted between 1897 and 1949, which corresponds to a gigantic weight of 340 tonnes of fine gold!
If we were to convert this weight at the current daily rate (12/2021) of 52,000 Swiss francs per kilo of fine gold, the entire Vreneli production would be worth 17 billion and 680 million Swiss francs!
And if we were to stack all the Vreneli ever produced on top of each other, we would create a pile of unimaginable 73 kilometres height.
Although Switzerland is now considered the world’s largest gold trader, with a 15% share of the world market, it was not until 1883, after a long 35 years, that the federal state, founded in 1848, minted its first own gold coins. In the Swiss Coinage Act of 7 May 1850, for example, the minting of gold coins was not considered and thus, the federal coinage in 1850 only starts in silver (½, 1, 2 and 5 francs), in billion (20 and 10 centimes) and in bronze (2 and 1 centime).
Nevertheless, gold was an important part of Swiss coin circulation before 1883, especially in the livestock trade.
What is hardly known today is that foreign coins were used, first and foremost the ‘Napoleon’, dialectally called “Näpu” or “Näpi”, the well-known French 20 francs gold coin. Foreign coins were even recognised as legal tender by federal law (31 January 1860). From 1866 (1 August 1866) and with the entry into force of the Latin Monetary Union, Belgian and Italian coins were added. Thanks to these sources of gold coins, the demand was covered and therefore the production of its own gold coins was unnecessary for the Confederation.
As we have already explained, since the founding of the federal state in 1848, the need for gold coins in Switzerland was covered by recognised foreign (French, Belgian and Italian) gold coins of the Latin Monetary Union. This common solution had many advantages for Switzerland but made the federal state very dependent on foreign politics. The Franco-German war of 1870-1871 made the danger of this dependence immediately clear.
The war led to the gold coins of the Latin Monetary Union being hoarded in large quantities outside Switzerland as so-called ‘nest eggs’. This very quickly created a shortage of gold coins, which greatly slowed down and damaged the Swiss economy.
Now the state had to urgently take care of producing its own gold coins. But making new coins is a difficult and usually lengthy process.
Under pressure, the idea for a simple emergency solution was born. The dies of the 20 centimes piece were to be adapted by adding the letters FR for franc on the reverse side of the stamp. But after minting a few trial specimens, it was quickly realized that such gold coins would not be forgery-proof and the project was immediately abandoned.
Three more attempts followed until 1873, but the so-called Durussel, 3-points and 2-points patterns were not convincing either.
Then, even before the Swiss authorities could agree on a coin design, peace was concluded between France and Germany in Frankfurt in 1873. With the peace, the hoarded gold coins of the Latin Monetary Union came back into circulation. Thus, the controversial question of having a gold coin of one’s own was off the table again. Another 10 years of discussions between supporters and opponents passed before the first Swiss gold coin, the 20 francs Helvetia, could be minted in 1883.
Finally, in 1883, the first own Swiss gold coin, the 20 francs Helvetia, was minted. Without first holding a competition, the coin’s obverse design was engraved on the basis of old designs by the late artist Albert Walch (1816-1882). Although Walch is almost unknown today, we encounter his works every day without knowing it. He created the designs for our 20, 10 and 5 centimes coins that are still in circulation.
Within a few years of the first minting of the Helvetia, however, the people and the authorities wanted a gold coin whose image would embody the Swiss Confederation more attractively and accurately.
There were two main criticisms of the 20 francs Helvetia:
a) in the eyes of the population, Walch’s female figure was too old-fashioned and too ordinary.
b) moreover, from the point of view of the representatives of the young Confederation, it carried a hidden and inappropriate political message.
Libertas is good, Helvetia would be better
The population criticised the image of the woman on the obverse. This is because it is not a representation of Helvetia, as we call this type of coin today by mistake, but the allegorical ancient figure of LIBERTAS, freedom. Thus, the reproach was raised that without the legend CONFOEDERATIO HELVETICA this coin image hardly showed any connection to Switzerland but could stand for any country. It lacked any sign of Swissness.
Switzerland does not only revolve around Bern
For the representatives of the young Confederation, the gold coin carried an inappropriate political message. Hidden and mostly unnoticed, the legend DOMINUS PROVIDEBIT, in English”God will provide” (God will provide) (Genesis 22, 8), can be found in the edge inscription of the 20 francs Helvetia since 1886. The inappropriate thing about this legend was that it was the motto of the old Republic of Bern, which was in use from the 17th to the 19th century. In view of the young federal state and the still delicate balance between the cantons, the representatives of the authorities therefore considered this Bernese motto to be a ‘politically inappropriate message’.
Interestingly, and despite all the criticism, this Bernese motto DOMINUS PROVIDEBIT is still written on the five-francs coin, which are still circulating and minted in Switzerland today. Bern’s influence is not going away so quickly (after all)!
The public criticisms must have been so problematic and urgent that the authorities began renewed discussions about a new coin design in 1892. They were aware that a quick change of a coin design could be at the expense of confidence in the coin and could damage its reputation. Indeed, an old rule of coin making states that a coin design should only be changed when important changes are imminent, such as the inauguration of a new king, a change of form of government such as the transition from an empire to a republic, a new alloy, another nominal or a different weight. But nothing of the sort applied here. Nevertheless, they took the risk.
The planned new coin was to be minted in the same fineness and size as its predecessor, the Helvetia, which had been produced since 1883. Neither the nominal nor the political situation of Switzerland had changed, but the will of the authorities and the people to create a typically Swiss coinage was so great that everyone was prepared to risk a possible loss of credibility in the Swiss currency.
From 1895 onwards, the project for a new coin design was led and supported by the Federal Councillor in office at the time and head of the Federal Department of Finance and Customs, Mr Walter Hauser (1837-1902).
At the beginning of 1895, the competition guidelines for a new 20 and 5 francs coin design were established. The instructions for the obverse coin design were as follows:
“For the obverse, the only general guideline is that the design of the coin should be supported by a Swiss national design and should express Switzerland – Helvetia – in a generally understandable way through allegorical or historical-symbolic representation […] An inscription in Latin, or even just the simple word “HELVETIA”, should make the Swiss origin of the coin clear”.
On 23 April 1895, a meeting of the Swiss Federal Council established a jury of seven experts. The men chosen were politicians, entrepreneurs or artists with an interest in numismatics.
Mr Arnold Robert-Tissot (1846-1925), a member of the Council of States from La Chaux-de-Fonds, was appointed chairman of the jury. In addition to his political career, he was active as a numismatist and coin collector and had already published several articles on coins and medals in specialist journals.
The other members of the expert jury were:
Mr Charles Bühler, painter and heraldist from Bern.
Mr Franz Friedrich Homberg (1851-1922), engraver-medallist from Bern.
Dr Friedrich Imhoof-Blumer (1839-1920), numismatist from Winterthur.
Dr François-Auguste Ladé (1841-1908), Vice-President of the Swiss Numismatic Society from Geneva and an associated professional numismatist with the firm Paul Stroehlin et Cie since 1892.
Mr Léo-Paul Robert (1851-1923), painter and member of the Federal Art Commission from Biel.
Mr Karl Emil Wild-Gsell (1856-1923), architect and National Councillor from St Gallen.
Mr Heinrich Imboden, adjunct and translator of the Federal Finance Office, was appointed Secretary and Secretary of the Minutes.
In February 1895, an invitation to participate in the competition was sent to 38 artists from Switzerland and abroad selected by the authorities. The correspondence from this period as well as the feedback from the artists give the impression that interest in the competition was not particularly great. Possibly the artists had already heard about the ‘ordeal’ of the Swiss gold coins and the numerous failed attempts.
Of the total of 38 invitations, 25 applicants announced their participation, 4 of them subsequently cancelled, 6 refrained from participating, including the well-known medallist Hugues Bovy, and 7 even failed to reply.
Most projects: deficient, unsuitable or technically not feasible
The jury meeting took place on 14 and 15 May 1895 in Bern. In the conference room of the Bundeshaus Ostbau, a total of 21 submitted projects were unpacked and judged by the jury. The minutes of the meeting still give us a sense of the jury’s disappointment today. Thus, a very quick and rough decision was made:
From the outset, 9 projects were eliminated as deficient
= only 12 projects still in competition
Because depictions of the Rütlischwur and Wilhelm Tell are more suitable for medals than for coins, 3 other projects showing these motifs were eliminated.
= only 9 projects still in competition
A further 7 projects were eliminated as mediocre or technically not feasible.
= only 2 projects still in competition
After this first selection, only 2 projects were left and were reasonably suitable as competition projects.
Of the two remaining projects, the jury unanimously decided at the end of the meeting that “no 1st place was to be awarded”. No project was good enough and none was able to convince the jury. Fritz Landry’s project, the first version of the Vreneli, was therefore awarded second place by the expert jury. Mr Karl Schwenzer’s project was awarded third place.
Project no. 11 – Schwenzer
One of the two suitable projects, project no. 11 by the German medallist Karl Schwenzer, has survived to us only through a brief description in the minutes. Unfortunately, we could not find an illustration of it despite our research.
Obverse:
CONFOEDERATIO HELVETICA. Woman seated to the right, holding a Confederate coat of arms in her left hand and a lance in her right hand.
Reverse:
CONCORDIA VALIDA. Lictor’s bundle separating the words 20 francs, surrounded by 22 stars and a laurel and oak branch each. Above the legend.
Project no. 7 – Landry
The second of the two suitable projects, project no. 7 by the artist Fritz-Ulysse Landry from Neuchâtel, was the first version of our Vreneli as it is shown here.
Obverse:
HELVETIA. Bust of a young girl with waving hair and looking upwards, against a background of mountains.
Reverse:
Nicely formed escutcheon with the coat of arms of the Confederation, to which an oak branch is attached, on both sides the indication of value, below the date.
The jury found two elements of the first draft to be unsatisfactory, which, in their opinion, needed to be redesigned:
First element
The portrait shows a woman who is far too young. As a representative and allegorical figure of Switzerland, one imagines a more mature woman who would already be a mother, not a virgin.
Second element
The mountain scenery is too dominant. In favour of the female figure, the mountains would therefore have to recede clearly into the background.
Interestingly, in the aftermath and by decision of the Federal Council, Mr Walter Hauser awarded Professor Landry first place and the prize money of 1,000 Swiss francs on 21 May 1895 at last. Thus, Mr Schwenzer’s project moved up to second place.
Because the jury of experts was not entirely satisfied with the results of the March 1895 competition and no project was convincing, there was a call for another competition on the same day. It was hoped for a coin design that would represent Switzerland more convincingly and better. Mr Landry was therefore asked to revise his first version of the Vreneli based on the criticisms.
In competition, the jury commissioned its own project to Léo-Paul Robert, artist and member of the jury.
He was asked to improve the design of the seated Helvetia from the obverse of one of the coin patterns of the year 1873 designed by Robert Dorer based on the jury’s instructions.
On 24 September 1895, the second meeting of the jury took place in Bern. All the jury members were present except Léo-Paul Robert, who was now replaced as a jury member by the famous Bernese artist Albert Anker.
Obverse: HELVETIA. Seated Helvetia with sword and shield to the left in front of a mountain background.
The minutes of the meeting show the great disappointment of the jury members when they saw ‘their project’, designed by Robert, for the first time. Robert did not take the jury’s wishes into account but pursued his own ideas. Despite of the artistic realisation, which particularly inspired Albert Anker, Robert’s coin design was not technically feasible for minting. Thus, only Landry’s revised project remained in the competition.
With three votes for (“Bühler”, “Imhoof” and “Ladé”), two votes against (“Anker” and “Homberg”) and one abstention (“Wild”), the jury decided not to recommend Léo-Paul Robert’s project for the Swiss gold coin.
Only Albert Anker was really enthusiastic about Robert’s work, which he explicitly recorded in a handwritten note in French on the minutes:
«The more time goes by, the more regrettable I find it that we did not accept Robert’s project as it was. Today we would have one of the most beautiful, if not the most beautiful coin in circulation».
Landry was able to make the most of the opportunity to take part in the competition for a second time. Motivated and following all the instructions and criticisms of the jury, Landry improved his design. The coin image of the Vreneli as we know it today was born!
In distinction to the first design, the young woman no longer wore her hair loose. Although Landry did not change Helvetia’s profile, the hair, now braided into a plait, gives the young woman a more mature appearance. Instead of rhododendron blossoms, her dress is now decorated with edelweiss motifs and the mountain backdrop is somewhat less dominant.
On condition that the mountain scenery should be even lower, the jury unanimously decided to recommend both the obverse and the reverse of Landry’s design for the 20-francs gold coin. Thus, on 14 November 1895, the Federal Council decided to definitely use the second design of Landry’s Helvetia for the 20 francs gold coin. As a replacement for the problematic Bernese motto, it was also decided that 22 stars, representing the 22 Swiss cantons, would now form the inscription on the edge of the coin.
Originally, Landry’s new design for the reverse was also to adorn the 5 francs piece, but this decision was never implemented. The reverse of the 5-francs piece remained unchanged from 1888 until 1916.
At the end of February 1896, a contract was signed between the Swiss Confederation and Prof. Fritz-Ulysse Landy to produce an original die and a first functional die. The date for completion of the dies was set for 1 November 1896. The plan was to begin the first minting in December, but the deadline could not be met. It was not until the end of 1896 that it was possible to produce 12 patterns of the 20-francs gold coin with the trial die. For the final decision, these specimens were sent to the seven Federal Councillors, the Federal Chancellor, the two Vice-Chancellors and the engraver. The twelfth specimen found its way into the Federal Numismatic Collection as a specimen.
After receiving the patterns for inspection, a concerned magistrate, probably Federal Councillor Hauser himself, complained that the hairstyle or the forelocks “gives the woman a frivolous appearance”. In a letter to Federal Councillor Hauser dated 8 January 1897, Landry comments on this:
«I am sending you with these lines a box containing the 20-francs coin minted with the trial die you gave me, on which I made a change by removing the curls from the forehead to see whether the simpler silhouette of the head looks more or less artistically pleasing».
«I have to confess that I like it better this way and that your criticism, Mr. Federal Councillor, seems completely justified on this point, so that I can bring myself to remove the same curl on the die as soon as I have received your reply to these lines».
Exactly this worked specimen is now in the collection of the Musée des Beaux-Arts in Neuchâtel. The traces of the removal of the forelocks are still clearly visible on it.
This incident is also mentioned in the excerpt of the Federal Council meeting minutes of 12 January 1897:
«Following the proposal of the Finance Department, it was decided to authorise Professor Landry to complete his work and to deliver the definitive dies, with the condition that the small forelock protruding to the right of the head be removed from them.».
Finally, the forelock on the die was removed and is therefore no longer found on the regular coinage.
At a meeting on 3 March 1896, the Swiss Federal Council established the following:
«to issue instructions for the new coin design to adopt the ratio between the length and width of the Swiss Cross as 7:6.»
This decision is based on the Federal Decree of 12 December 1889, which clearly regulates the image of the Federal Coat of Arms and its size ratio.
After the criticism of the forelock and the demanded adjustment of the die, the director of the Eidgenössische Eichstätte, today the Institute of Meteorology, was contacted by the Department of Finance on 19 January 1897.
He was to assess whether the Swiss cross on the die of Landry’s project, which had already been made, complied with the established 7:6 rule. Unfortunately, the answer was negative, as the report of the calibration site reads:
«The legs should therefore have a length of 2.141 mm. However, the average of the leg lengths is only 2.025 mm; they are therefore too short by 0.116 mm.»
Of course, the Federal Council immediately demanded a corresponding adjustment of the die, but this went too far for Professor Landry. In his letter of 21 January 1897 to the Federal Council, one can clearly sense his frustration. After such a long process, to make a new die because of a 0.116mm deviation was far too much Swiss precision for the artist! The desired adjustment was not made in the end.
With the following closing words from Landry to Federal Councillor Hauser, the five acts of the exciting and at times laborious two-year history of the birth of the Vreneli come to an end here. It impressively summarises the unimaginable effort that goes into the creation of a coin.
The letter of 24 May 1897 from Prof. Fritz-Ulysse Landry to Federal Councillor Walter Hauser reads:
“After this extensive work, after all the worries and disappointments that are inevitable for any artist who works with steel and is in constant struggle with this metal that holds surprises of all kinds that are impossible to foresee, it is sweet for the artist to receive recognition for his finished work and to know that, despite its imperfections, it can be an improvement on the coin design that is supposed to symbolise the Fatherland.”
The origin of the name ‘Vreneli’ has long been a mystery. In numismatic literature, as well as in articles and publications on this gold coin, it is always claimed that the name ‘Vreneli’ was not used until the time of World War 2 and only appeared in print for the first time in 1943.
Our research contradicts this general assertion. The oldest printed publication of the name Vreneli that we could find dates from 19 March 1904, almost 40 years before the first printed version known so far.
The 1904 record comes from the Chronicle of the City of Zurich No. 12, page 91, where it reads: «In the reporting year, little gold (200,000 twenty-franc pieces, “Vreneli”) was minted at the old mint».
We were able to find other examples of the nickname Vreneli that were published before 1943:
1909: The newspaper “Grüntlianer” of 20 March 1909, first sheet, Bundesbrief, letter of 18 March 1909 states: «Ist den Ratsherren Gold Vreneli gesichert, dann finden sie sich bald in tieften Gespräch in den Couloirs oder Vorzimmern oder anderswo».
1911: In the newspaper “Grütlianer” of 10 October 1911, first sheet, end of session and term of office, it goes on to say: «[…] die Wolfsboten (Ratsherren) erschienen rasch des Morgens, um Ihre Anwesenheit zu bezeugen, die Sitzungsgelder in Form neuer Gold Vreneli in Empfang zu nehmen, und dann möglichst rasch zu verduften».
1912: In the minutes of the meeting of the Governing Board of the Swiss National Bank of 4 January 1912, agenda item 198: «Es wird zu Protokoll davon Notiz genommen, dass in Zirkulationswege die Gravur der Medaillons mit dem «Vreneli-Kopf» genehmigt und damit das «Gut zum Druck» für die 20 Fr. Note definitiv erteilt worden ist».
The question about the origin of the nickname Vreneli is generally answered in numismatic literature as follows: “Vreneli is a diminutive of the very common female first name Verena. And because the depicted Helvetia is so young, it is more likely to be a Vreneli than a mature mother of the country named Verena.”
From our point of view, however, the name should be associated with the famous and old Swiss folk song ‘s’Vreneli ab em Guggisberg’ or ‘Guggisbergerlied‘. Our research shows that until the First World War, when the Vreneli was in circulation as a means of payment, there was no village or folk festival in Switzerland at which this song was not played. Journals from that time report in countless articles about the popularity of this song, which was certainly known to every Swiss at that time.
The song tells the story of Vreneli from Guggisberg, who is longing for his beloved ‘Simes Hans-Joggeli’ and finds comfort for his persevering love in the image of the mill wheel turning incessantly.
An article in the Schweizerische Numismatische Rundschau of 1897 described the representation of the Helvetia as follows:
«The young girl seems to be in a state of mind in which melancholy, mysticism, a little admiration and a lot of expectation resonate: Expectation of what or whom? No one knows. […] the girl’s expectation is about something more earthly [such as] her fiancé, who is supposed to come from the other side of the mountain […].
We would therefore not be surprised if the people of that time soon recognised in the new gold coin a clear resemblance to the beloved and very popular Guggisbergerlied. For the characteristics of Landry’s young Helvetia against an Alpine background match wonderfully with the story and emotions of the Vreneli ab em Guggisberg.
In the second half of the 20th century, the identity of Landry’s muse was debated extensively. The sons of two potential ‘muses’ in particular argued about the prestigious role of their mothers and numerous magazines and press articles reported on this. Françoise Kramer-Egli (1859-1946) from Neuchâtel and Rosa Kruck-Tännler (1879-1946) from Gadmen in Oberhasli came into question. Both ladies knew Landry personally.
The youthful appearance of Helvetia, which has been criticised time and again since the first version of the Vreneli in 1895, speaks more in favour of Mrs Rosa Kruck-Tännler as the muse. In 1895, Rosa was only 16 years old, whereas Mrs Kramer was already 36. Landry also mentions that he was inspired by “a very pure type of woman from the Hasli”.
However, since Landry never expressed himself personally about his muse, we believe that this question should remain unanswered. Very probably, and as is often the case with artists, the portrait of Vreneli contains the souls of several muses.
The Vreneli was first issued in 1897, barely 50 years after the founding of the modern Swiss Confederation on 12 September 1848. Although it is the best-known gold coin of the Swiss Confederation, it is not the first and only one.
The first gold federal coin was produced between 1883 and 1896. It is known in specialist circles as the “Helvetia”. Its comparatively small total mintage of 1,750,000 is 30 times smaller than the mintage of the Vreneli and the reason why we encounter such a specimen much less often and why the “Helvetia” is less well known.
In the years from 1897 to 1935, the Vreneli produced served as a means of payment. During this time, a total of 19,425,442 pieces were minted, which corresponds to one third of the total production. In 1936, the economic crisis led to a stop in minting.
After the devaluation of the French franc as a result of the economic crisis of 1931, the Swiss franc was devalued by 30% with a “Decision on Extraordinary Measures to Restore the Financial Balance in the Federal Budget” on 27 September 1936. As a result, the gold value of the Vreneli rose above the nominal value of 20 francs to 28 francs. Although the Vreneli was not officially withdrawn from circulation, the gold coin disappeared from daily circulation and the minting of further examples was discontinued.
Even before the end of the Second World War, from February 1945, the minting of the Vreneli was restarted. This decision was based on two main reasons:
Between February 1945 and April 1947, 20 francs gold coins were minted and intentionally backdated to the year 1935. However, because there were already issues dated 1935, the backdated restrikes were marked with the additional letter L for Lingot (French for ingot) next to the mint mark B for Bern.
The restrikes were no longer intended to serve as a means of payment, but as a financial instrument and investment coin. A total of 39,208,813 LB coins were minted, more than twice as many as in the years 1897-1935.
The official explanation of the Confederation was that these restrikes were produced on the basis of the coinage laws that were in force before the Federal Decree of 1936 and the subsequent devaluation of the Swiss franc.
Unofficially, however, the circumstances were explained quite differently. After the end of the war, Switzerland was heavily criticised by the Allies for its economic and financial relations with the Axis powers. To protect themselves from possible speculation about the origin of the gold used, the authorities decided to backdate it to 1935.
With the conclusion of the Washington Accords on 25 May 1946 and the agreed compensation payment of 250 million Swiss francs for the reconstruction of Europe, the Allies renounced any further accusations against Switzerland.
This made the usage of backdating unnecessary, which is why the Federal Council decided in March 1947 to mark the restrikes with the current and actual vintages from now on. The marginal inscription was also adapted. Instead of 22 stars, the Latin legend AD LEGEM ANNI MCMXXXI (according to the law of 1931) was now used.
The last Swiss 20 francs Vreneli were minted in 1949.
Fedel, Lorenzo, Vreneli, in Historisches Lexikon der Schweiz (HLS)
Fischbacher, Daniel M., Unser Gold Vreneli, Nachschlagwerk über die beliebteste Goldmünze der Schweiz, Aesch BL, Herbst 2007, 82 S.
Germann, Raphael, Gold Vreneli, Konflikt um das Modell der Münze, 2019, 22 S.
Official Bulletin on the Gold Vreneli of the Swissmint
Rosen, Josef, Vom Gold Vreneli, in Schweizerische Kreditanstalt (SKA)-Bulletin, 82. Jahrgang. Juli 1976. Seite 34-37.
Swiss Federal Archives