What is the value of a 20 Reichsmark gold coin today?
20 Reichsmark price history
Intrinsic value based on the gold price
How much does a 20 Reichsmark gold coin weigh?
The 20 Reichsmark coin has a total weight of 7.9650 grams. This weight includes the coin's complete alloy.
Taking its purity of 900‰ (90.0%) into account, this coin contains exactly 7.1685 grams of pure gold.
What is the purity of a 20 Reichsmark gold coin?
The 20 Reichsmark coin has a purity of 900 thousandths, i.e. 90.0% fine gold.
This purity is characteristic of coins struck in Germany between 1871-1915. The rest of the alloy (10.0%) is generally composed of copper to strengthen the coin's durability.
Obverse
The obverse of the 20 reichsmark illustrates the institutional diversity of the German Second Reich (1871–1918). Under the monetary law of 1871, the various federated states retained the privilege of striking their own gold coins while adhering to a unified standard.
Typology of issuers and portraits
Prussian issues (the most common): They successively feature the profiles of Emperor Wilhelm I, Friedrich III, and then Wilhelm II, facing right, accompanied by the official title in German (e.g. WILHELM DEUTSCHER KAISER KOENIG V. PREUSSEN).
Confederate monarchies: The kingdoms of Bavaria and Saxony depict their respective sovereigns (Ludwig II, Otto I, Ludwig III for Bavaria; the successive kings of Saxony).
Free Cities: Like Hamburg, Bremen or Lübeck, certain cities display their historic civic coats of arms on the obverse in place of a princely effigy.
Signatures and mints: The initials or abbreviated names of the official engravers generally appear discreetly below the neck of the portrait.
Reverse
Unlike the obverse, which varies according to member states, the reverse of the 20 reichsmark is standardised across the entire German Empire, serving as a unifying element for this federal currency.
Imperial heraldry, mints and inscriptions
The imperial eagle: The field is dominated by the German imperial eagle with outstretched wings, symbolising the power of the unified Empire.
Legends and denomination: The circular inscription mentions the issuing authority DEUTSCHES REICH, the face value 20 MARK as well as the year of issue.
German mint letters: The origin of the strike is identified by a monogram letter:
A: Berlin (main mint)
B: Hanover (until 1878)
C: Frankfurt am Main (until 1879)
D: Munich
E: Dresden then Muldenhütten
F: Stuttgart
G: Karlsruhe
H: Darmstadt (until 1882)
J: Hamburg
The edge: Often engraved with the Prussian and imperial national motto GOTT MIT UNS ("God is with us") in relief on many issues.
Versions and mintage
Guillaume Ier (Wilhelm I)
Guillaume II (Wilhelm II)
Guillaume Ier (Wilhelm I) - Frédéric III (Friedrich III)
History of the 20 reichsmark coin
Stemming from the German unification orchestrated by Bismarck, the 20 reichsmark was established by the monetary laws of 1871 and 1873 to provide the Second Reich with a unified national gold standard, putting an end to the monetary fragmentation of the Confederate States.
Metrology and federal production
Technical specifications: Gross weight of 7.965 grams with a fineness of 900 thousandths (90% gold), giving an exact fine gold content of 7.168 grams. Its diameter is 22.5 mm.
Parallel with the Napoléon: Its gold content, nearly identical to that of the 20 francs français, facilitated international commercial settlements during the era of the gold standard.
Issuance dynamics: Struck in large quantities between 1871 and 1915 — the gold coming in part from the war indemnities paid by France — production came to an abrupt halt with the outbreak of the First World War.
Price evolution of the 20 reichsmark coin over the last twenty years (2005 to 2026)
As a major historical gold coin, the base value of the 20 reichsmark closely tracks fluctuations in the spot price of gold, while maintaining a clear distinction between investment and numismatics.
Market dynamics and premiums
Overall upward trend: Driven by the strong appreciation of the yellow metal over two decades (rising from ~$400 to major historical highs beyond $2,000 and $3,000/oz), the intrinsic value of the coin has been multiplied by four to five.
Two distinct markets: Common issues (Prussian, Wilhelm II) trade at a moderate premium of 5% to 15%. Conversely, rare states (Bremen, Lübeck) or low-mintage Bavarian and Saxon issues reach speculative numismatic premiums bearing no relation to the gold weight.
Acquisition advice: For the wealth-preservation investor seeking exposure to the metal, targeting common types avoids the pitfall of a scarcity premium that is difficult to recover upon resale.
Why invest in the 20 reichsmark coin?
The 20 reichsmark is a safe value in European investment numismatics, offering a very relevant level of divisibility.
Strategic advantages, taxation and points of vigilance
Alternative to the Napoléon: With 7.168 g of fine gold, it offers ideal granularity and excellent liquidity among professionals in Central Europe and France.
Protective tax framework: Recognised as investment gold (fineness $\ge 900$ ‰ and struck after 1800), it benefits from 0% VAT on purchase and the advantageous capital gains regime (5% allowance per year after the 2nd year).
Rigorous vigilance: Beware of counterfeits (common on gold coins of this era) and the traps of numismatic premiums on intermediate grades or rare mints.
Frequently asked questions
What is the difference between a 20 Reichsmark and a 20 Mark "Kaiser"?
This is a common confusion. The 20 Mark gold coin issued under the German Empire (1871-1915) bearing the effigy of the Emperors (Wilhelm I, Friedrich III, Wilhelm II) or the sovereigns of the German states is technically a 20 Goldmark.
The term "Reichsmark" refers to the currency introduced later, under the Weimar Republic and the Third Reich (a period during which no gold circulation coins were issued).
On the investment gold market, the name "20 Reichsmark" is a common misnomer used to refer to the 20 Mark Or of the German Empire.
Why do 20 Mark Gold coins feature such different obverses (faces)?
Before monetary unification, the German Empire was composed of several kingdoms, grand duchies and free cities (Prussia, Bavaria, Saxony, Württemberg, Hanse...).
While the reverse was required to bear the imperial eagle (Reichsadler) common to the entire Empire, the obverse was reserved for the portrait of the local sovereign or the city's coat of arms.
The most common and most liquid version on the market is that of the Kingdom of Prussia bearing the effigy of Wilhelm II (Wilhelm II).
Is the 20 Mark Gold equivalent to the 20 Francs Napoléon for an investor?
From a financial standpoint, the coin is very similar but slightly heavier. It contains 7.17 grams of pure gold (for a gross weight of 7.96 g), compared to 5.80 grams of pure gold for a 20 Francs Napoléon or.
It falls into the category of medium-sized European investment coins. It is an excellent diversification vehicle for those seeking assets backed by 19th-century German industrial power.
Do certain effigies or minting workshops of the 20 Mark Gold carry a numismatic premium?
Yes, very clearly.
While the Prussian versions (Wilhelm I and Wilhelm II) struck in tens of millions of examples trade very close to the spot gold price, coins from small German states (such as Saxe-Altenburg, the Principality of Reuss or Waldeck) or short reigns (such as that of Frederick III in 1888, the "99-day reign") are highly sought after by collectors and command significant numismatic premiums.
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