West Midlands Police are investigating after the robbery at a home on Leighton Road, Penn, at about 8.20pm on Saturday.
The family who live there were threatened by a group of four men who broke into their home via a back door.
A 51-year-old woman and a 56-year-old man were assaulted and suffered minor injuries.
The suspects stole their mobile phones, cash and a Raymond Veil watch.
Enquiries are ongoing and a knife found at the scene by one of the police dog units has been sent for forensic analysis.
Anyone with information is asked to contact police via Live Chat at www.west-midlands.police.uk between 8am and midnight, or call 101 anytime. Quote crime reference 20WV/35792U/20.
Alternatively, contact Crimestoppers anonymously on 0800 555111 or at crimestoppers-uk.org