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Zurich auction house Sincona is auctioning a Vreneli made of Gondo gold on October 26. Between 1894 and 1897 the Société Suisse Mines d’Or de Gondo extracted approximately 33 kilograms of gold from the Gondo VS valley. A capital of 5 million francs was required for this. However, the 33 kilograms of gold produced had a yield of only 113,680 francs, so industrial mining was stopped in 1897. This is why Vreneli made from Gondogold are extremely rare compared to other Vreneli.
In the 19th century, the Federal Mint accepted mint orders from private individuals. Citizens could turn their own precious metals into coins for a fee. Some of Gondogold’s owners may have done this. In 1893, 25 Vreneli copies were minted in Gondo gold, and 19 in 1895. Sources differ on the number of Vreneli printed in 1897. Some talk about 29 copies, some talk about 12 copies. What is certain is that the 1897 Gondogold Vreneli is the rarest work seen at auction, the auction house wrote in a press release on Thursday.
Small cross makes a difference
All Vreneli made of Gondo gold have a small, marked cross in the middle of the Swiss cross on the value side. Experts also recognize Gondo gold coins by their color.
The Zurich auction house estimates Gondogold Vreneli’s value at at least 120,000 francs. However, Sincona’s managing director and auctioneer Jürg Richter expects the coin to fetch significantly more, given the current market situation.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
