Valcambi
Also: Valcambi SA, Valcambi Suisse
Valcambi is one of the world's largest and most respected gold refiners, based in Balerna in the Swiss canton of Ticino, renowned for the highest purity standards and its patented CombiBar system.
Valcambi SA ranks among the most important refineries in the world. The company was founded in 1961 in Balerna, in the canton of Ticino, and processes roughly 1,400 tonnes of precious metals a year into bars, coin blanks and semi-finished products. For decades it has held a place on the coveted LBMA Good Delivery List for gold and silver - one of the strictest international marks of quality in the precious metal trade.
History and ownership
Valcambi began as a subsidiary of Credit Suisse, which shaped the business for many decades. In 2003 the American mining and chemicals group Newmont Mining took a majority stake. Since 2015 Valcambi has passed entirely into the hands of India's Rajesh Exports Limited - one of the largest gold-processing companies in the world. Despite the change of owner, the Balerna production site has been retained, and the "Valcambi Suisse" brand still stands, unchanged, for Swiss quality.
Product range
Valcambi produces bars in almost every common weight for four precious metals:
| Metal | Available sizes (selection) | Typical fineness |
|---|---|---|
| Gold | 1 g, 2.5 g, 5 g, 10 g, 20 g, 1 oz, 50 g, 100 g, 250 g, 500 g, 1 kg | 999.9/1000 |
| Silver | 1 oz, 100 g, 250 g, 500 g, 1 kg, 5 kg | 999.0/1000 |
| Platinum | 1 oz, 50 g, 100 g | 999.5/1000 |
| Palladium | 1 oz, 100 g | 999.5/1000 |
Minted bars are sealed into blister cards (assay cards) that show weight, fineness, serial number and the Valcambi logo. Cast bars are supplied without a blister and are aimed primarily at institutional buyers.
The CombiBar - the divisible-bar innovation
Valcambi's most famous distinguishing feature is the CombiBar (also called a divisible or table bar). It consists of individually perforated one-gram segments that can be snapped apart without any tools:
- Gold CombiBar: 50 x 1 g (50 g total), fineness 999.9
- Silver CombiBar: 100 x 1 g (100 g total), fineness 999.0
- Each segment carries a fineness stamp and the Valcambi signature
The CombiBar allows flexible part-sales with no loss of value from cutting, and is especially popular with investors who want their physical gold or silver to be finely divisible. The current gold price governs the valuation of individual segments.
Quality assurance and certification
Valcambi runs its own in-house laboratory with the latest testing methods, including X-ray fluorescence analysis and wet-chemical cupellation. The following certifications and memberships underline its commitment to quality:
- LBMA Good Delivery - for gold and silver (the strictest trading-venue accreditation in the world)
- Responsible Gold Guidance (LBMA) - proof of conflict-free, ethically defensible raw material provenance
- ISO 9001 - quality management system
- Swiss Better Gold Association - commitment to sustainable gold mining
With the assay certificate on every packaged bar, a buyer can verify fineness and serial number at any time - important, too, for authenticity testing.
Market position and significance
Valcambi supplies central banks, commercial banks, mints and the precious metal trade in more than 100 countries. In the small investor-bar segment (1-100 g), Valcambi products are among the most heavily traded brands in Europe. The melt value of a Valcambi bar corresponds to the market value of the pure metal it contains - the premium (agio) over the spot price varies by size and dealer.
Not tax or investment advice: the tax treatment of buying and selling precious metals varies from case to case; please consult a qualified adviser.
In a nutshell
Valcambi is a leading Swiss refiner with LBMA accreditation, known for precise finenesses and its versatile CombiBar system - Valcambi bars are regarded worldwide as a liquid and widely recognised investment vehicle.