Apart from this honor, it also plans to add a Federer SFr50 gold coin in May.
Meanwhile, for the 20-franc coin, the pre-sale began on Monday.
According to a report in the official ATP website, it is set to continue until December 19, or until the first minting run of 55,000 units has sold out, whichever comes first.
Key information regarding the issue of coins
In a statement, the Switzerland government said Federer is the best-known personality from the nation both on and off the court.
The image of the coins show an engraving of the 38-year-old hitting a backhand.
An "uncirculated quality" version of limited edition coin is already up for pre-order online while the proof-quality coins will be available from the issue date onward in January.
'Federer is the perfect ambassador for Switzerland'
Meanwhile, Swissmint wrote, "Federer is the perfect ambassador for Switzerland. He has a unique way of embodying likeability, down-to-earthness, success and eloquence."
Swissmint had earlier introduced commemorative coins celebrating Swiss historical events, people and organizations.
In 2019, commemorative coins were dedicated to the Apollo 11 moon landing and the centenary of the Circus Knie.
Federer first living person to be honored by Swissmint
"Roger Federer's sporting achievements, his charitable commitments, his easy-going nature and his accessibility to his fans have prompted Swissmint to dedicate this 20-franc silver coin to him - the first time it has done so with a living person," a Swissmint spokesperson told Reuters.
Some notable records scripted by Federer in tennis
Federer has pocketed 103 tour-level titles, including 20 Grand Slam crowns and 28 ATP Masters 1000s.
He has also spent a record 310 weeks at No. 1 in the ATP Rankings.
Federer has also been in a total of 31 Grand Slam finals.
He has been in 23 consecutive men's Grand Slam singles.
The veteran has gone 237 consecutive weeks as world number one.
A look at Federer's other off-court commemorations
Meanwhile, the Swiss ace has had other off-court commemorations as well. In 2012, the German city of Halle, named a street after the 10-time champion here. In 2007, Swiss Post released a Roger Federer stamp in his birthplace of Basel.