In 1853, Jakob Goldschmidt founded an antiques business, which his brother, Selig Goldschmidt, joined in 1857. From that point on, the firm was known as J. & S. Goldschmidt Antiquitäten and was located in Frankfurt. The founder’s son, Julius, became a partner in the business and, following his uncle’s death, took over as owner. The firm was noted for carrying out some of the most significant transactions of the time, such as the sale of the Guelph Treasure, one of the most valuable collections of medieval religious art. Nazi persecution forced the closure of the Frankfurt and Berlin branches in 1933.