You must have an order with a minimum of $1,000.00 to place your order, your current order total is $0.00.
What a German 20 Mark gold coin is worth starts with its gold: 7.1685 grams, or 0.2305 troy ounces, at the current spot price. Dealers sell the coin for that melt value plus a premium, and buy it back at a bid that can be lower. The premium depends on which German state issued the coin, which ruler it shows, its date and its grade: common Prussian issues of Wilhelm I and Wilhelm II trade closest to melt value, while coins from small states and high grades sell for more. Gold prices and premiums both move, and either can fall.
The 20 Mark was the gold coin of the German Empire, struck from 1871 until the First World War ended gold coinage in 1915. It holds just under a quarter ounce of gold, which makes it one of the most practical historic European gold coins to buy and sell. USAGOLD has served precious metals buyers from Denver since 1973, and this guide covers what the coin contains, what moves its price, and what to check before you buy.
German 20 Mark at a Glance
| Specification | German 20 Mark |
|---|---|
| Dates | 1871 to 1915 |
| Issued by | The individual German states and the free cities of Bremen, Hamburg and Lübeck |
| Gross weight | 7.965 g |
| Fineness | .900 (90% gold) |
| Pure gold | 7.1685 g (0.2305 troy oz) |
| Legal minimum weight for a worn coin | about 7.9251 g |
Sources: NGC (weight, fineness, gold content, 1871 start) and German gold mark (state issuers, minimum weight, production ending in 1915).
German Gold Coins: Where the 20 Mark Fits
After unification, a law of December 1871 created the mark and authorized gold coins of 10 and 20 marks. The 20 Mark contains 7.1685 grams of gold and the 10 Mark exactly half that; a 5 Mark gold piece was struck only in 1877 and 1878. The currency stayed on the gold standard until August 1914, when the Empire suspended gold convertibility at the start of the First World War, and the last gold coins were struck in 1915 (German gold mark).
Unlike Britain or France, the German Empire let its member states issue their own gold coins. Each state’s coins carried its own monarch’s portrait, the free cities used their coats of arms, and only the Principality of Lippe issued no gold at all. The gold content is the same on every one of them, which is why the coin trades as one family with many varieties.
What Is a German 20 Mark Gold Coin Worth?
Melt value = 0.2305 × the spot price of gold.
Illustrative numbers, not a quote: if gold were $4,000 an ounce, a 20 Mark’s melt value would be 0.2305 × $4,000 = $922. You can check today’s figure on NGC’s live melt value page or work it out from our live gold price.
A dealer’s selling price is melt value plus a premium; its buying price, the bid, can be below melt. Four things set the premium:
- Issuer and ruler. Common Prussian issues trade closest to melt; coins from small states carry collector premiums.
- Date. Some dates were struck in small numbers.
- Grade. Uncirculated and higher-grade coins cost more.
- Certification. PCGS- or NGC-certified coins cost a little more and resell more easily.
How premiums work in general, and how to check one, is covered in our guide to gold coin premiums.
Which German 20 Mark Coins Are Worth More?
| Type | What makes it different | How it tends to trade |
|---|---|---|
| Prussia, Wilhelm I | The first emperor; dated 1871-1888 | Common; close to melt |
| Prussia, Frederick III | He reigned 99 days in 1888, so every coin is dated 1888 | A one-year type with collector interest; usually priced above Wilhelm II |
| Prussia, Wilhelm II | The last emperor, bare-headed portrait | The most commonly traded |
| Prussia, Wilhelm II in uniform | The 1913-1915 portrait in a Prussian general’s uniform; among the last gold coins Germany struck | Priced above the bare-headed Wilhelm II |
| Hamburg | The city’s coat of arms instead of a monarch | A modest premium over common Prussian issues |
| Other states (Bavaria, Saxony, Württemberg, Baden and smaller states) | Each shows its own ruler | Many smaller states issued coins in very small numbers; the rarest 20 Mark, of Grand Duke Adolf Friedrich V of Mecklenburg-Strelitz, had just 1,160 pieces struck |
The relative pricing in the last column reflects USAGOLD’s own price list for the types we stock (October 2026); it can change.
How Much Gold Is in a 20 Mark Gold Coin?
7.1685 grams, or 0.2305 troy ounces. Here is how that compares with other historic gold coins:
| Coin | Pure gold |
|---|---|
| U.S. $5 half eagle | 0.24187 oz (NGC) |
| British Sovereign | 0.235 oz (The Royal Mint) |
| German 20 Mark | 0.2305 oz (NGC) |
| Swiss 20 Francs | 0.1867 oz (NGC) |
A 20 Mark holds slightly less gold than a British Sovereign and about 23% more than a Swiss 20 Francs. Four German 20 Marks contain about 0.92 ounces of gold, a little less than one U.S. double eagle.
Grades, Certification and Counterfeits
German 20 Marks are offered in grades from circulated to mint state. For buyers focused on gold content, circulated and lower mint-state coins keep the premium down; higher grades are priced for collectors. Our guides to AU vs. uncirculated grades and PCGS vs. NGC explain the trade-offs.
Counterfeits exist. In July 2025 NGC published a counterfeit 1905-A Prussia 20 Mark submitted to its Munich office. NGC said it appeared to be made of a gold alloy, and it gave itself away through a pale color, soft details and doubled lettering. Because a fake can contain real gold, weight alone does not prove a coin is genuine. Buy certified coins, or buy from a dealer who authenticates what it sells and will buy it back.
German Gold Marks vs. Deutsche Marks
They are different currencies. The gold mark was the Empire’s currency from the 1870s to the First World War. The Deutsche Mark was introduced in 1948 and replaced by the euro in 2002, and its everyday coins were not gold. The exceptions are the one million .999 gold 1 Deutsche Mark coins issued in 2001 to mark the end of the currency. The Bundesbank still exchanges Deutsche Mark cash for euros, at the fixed rate of 1.95583 marks per euro (Deutsche Mark).
Can German 20 Mark Coins Go in an IRA?
No. The IRS treats coins as collectibles unless they meet narrow exceptions, and historic European gold coins do not. For retirement accounts, see which gold coins qualify for a Gold IRA.
How to Buy German 20 Mark Gold Coins
Before you buy, ask:
- Which state, ruler and date is the coin?
- What is its melt value right now, and what premium am I paying?
- Is it certified, or does the dealer authenticate and guarantee it?
- What would the dealer pay to buy it back?
USAGOLD carries several German 20 Mark types, including Wilhelm II, Wilhelm II in uniform, Frederick III and Hamburg, alongside the rest of our historic European gold coins.
For most investors, we recommend a core of U.S. pre-1933 gold coins such as the $20 St. Gaudens, with smaller European coins like the 20 Mark added for divisibility. Our guide to the best European gold coins compares the 20 Mark with the Sovereign, the 20 Francs and the Dutch 10 Guilder.
To check availability, compare types, or get the premium on a specific coin, talk to a USAGOLD precious metals professional at 1-800-869-5115, or contact USAGOLD.
Frequently Asked Questions
What is a German 20 Mark gold coin worth?
Start with its melt value: 0.2305 troy ounces of gold times the spot price, or $922 at $4,000 gold. Dealers sell at melt plus a premium; common Prussian issues sell closest to melt, while Frederick III, Hamburg, small-state issues and high grades cost more. When you sell, the dealer’s bid can be below melt.
How much gold is in a 20 Mark gold coin?
7.1685 grams of pure gold, or 0.2305 troy ounces. The coin weighs 7.965 grams and is 90% gold. That is slightly less gold than a British Sovereign and about 23% more than a Swiss 20 Francs.
What is the melt value of a 20 Mark gold coin?
Multiply 0.2305 by the current spot price of gold per troy ounce. NGC publishes a live melt value for the series, and you can work it out from any live gold price.
Which German 20 Mark coins are worth the most?
Coins from small states struck in tiny numbers, such as the Mecklenburg-Strelitz 20 Mark of Adolf Friedrich V (1,160 struck), and coins in high grades. Among the common types, the one-year Frederick III and the Hamburg city issues usually cost more than Wilhelm II.
When were German 20 Mark gold coins made?
From 1871, after the German Empire adopted the gold mark, until 1915. Germany suspended gold convertibility in August 1914, and gold coin production stopped the following year.
Are German Deutschmarks worth anything?
Ordinary Deutsche Mark coins are not gold, but the Bundesbank still exchanges Deutsche Mark cash for euros at 1.95583 marks per euro. The gold 20 Mark is a different, much older coin from the German Empire.
How do I know if a German 20 Mark is real?
Buy PCGS- or NGC-certified coins, or buy from a dealer who authenticates and buys back what it sells. Counterfeits exist, and some contain gold, so color and detail matter more than weight alone.
Is a German 20 Mark better than a British Sovereign?
Neither is better for everyone. The Sovereign holds slightly more gold and is still struck by The Royal Mint today; the 20 Mark offers many historic varieties and similar divisibility. Compare the premium per ounce of gold on the specific coins you are offered.
