Valcambi
Also: Valcambi SA, Valcambi Suisse
Valcambi is one of the world's largest and most respected gold refineries, based in Balerna in the Swiss canton of Ticino, known for the highest purity standards and its patented CombiBar system.
Valcambi SA is one of the most important refineries in the world. The company was founded in 1961 in Balerna, in the canton of Ticino, and processes around 1,400 tonnes of precious metals each year into bars, coin blanks and semi-finished products. Valcambi has been listed for decades on the coveted LBMA Good Delivery List for gold and silver - one of the strictest international quality benchmarks in precious-metal trading.
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 company Newmont Mining acquired a majority stake. Since 2015 Valcambi has been wholly owned by the Indian company Rajesh Exports Limited - one of the largest gold-processing companies in the world. Despite the change of ownership, the Balerna production site has been retained, and the "Valcambi Suisse" brand continues to stand for Swiss quality.
Product range
Valcambi produces bars in almost all common weight units 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) showing weight, fineness, serial number and the Valcambi logo. Cast bars are available without a blister and are aimed primarily at institutional buyers.
The CombiBar - the tablet-bar innovation
Valcambi's best-known unique selling point is the CombiBar (also called a tablet bar). It consists of individually perforated one-gram segments that can be broken off without tools:
- Gold CombiBar: 50 x 1 g (50 g total weight), fineness 999.9
- Silver CombiBar: 100 x 1 g (100 g total weight), fineness 999.0
- Each segment bears a fineness stamp and the Valcambi signature
The CombiBar enables flexible part-sale without loss of value from cutting, and is especially popular among investors who value fine divisibility of their physical gold or silver. The current gold price is decisive for valuing individual segments.
Quality assurance and certification
Valcambi runs its own laboratory with state-of-the-art testing methods, including X-ray fluorescence analysis and wet-chemical cupellation. The following certifications and memberships underline its quality standards:
- LBMA Good Delivery - for gold and silver (the strictest trading-venue accreditation in the world)
- Responsible Gold Guidance (LBMA) - evidence of conflict-free and ethically sourced raw material
- ISO 9001 - quality-management system
- Swiss Better Gold Association - commitment to sustainable gold mining
With the assay certificate on every packaged bar, the buyer can verify fineness and serial number at any time - also important for authenticity testing.
Market position and significance
Valcambi supplies central banks, commercial banks, mints and the precious-metals trade in over 100 countries. In the segment of small investor bars (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 denomination and dealer.
No tax or investment advice: details of the tax treatment of buying and selling precious metals vary from case to case; please consult a qualified tax adviser.
In brief
Valcambi is a leading Swiss refinery with LBMA accreditation, known for precise fineness and its versatile CombiBar system - Valcambi bars are regarded worldwide as a liquid and recognised investment vehicle.