Yes. Valcambi’s minted gold bars are 999.9 fine and come from Valcambi SA in Balerna, Switzerland, a refiner on the LBMA’s gold Good Delivery List since 20 May 1968. In Bullion Trading LLC's price records since 27 October 2024, a standard Valcambi gold bar cost less than PAMP's Lady Fortuna of the same weight on 86.2% to 100% of trading days at every size from 1 g to 1 kilo, and more than the random-brand bar on most days at every size except 2.5 g. A single day can point the other way: at today's check/wire prices a 1 oz Valcambi bar costs $16 more than the random-brand 1 oz and $23 more than the Lady Fortuna, which was the cheaper of the two on 28 of the last 30 trading days.
So Valcambi sits between a random-brand bar and PAMP: a known Swiss name for a small premium. With gold at $3,978 (Ask) an ounce on 3 November 2026, each percentage point of premium is $40 on a 1 oz bar, so this guide uses two years of daily prices, not one day’s.
| Key finding | Result |
|---|---|
| Valcambi cheaper than PAMP's Lady Fortuna | 86.2% to 100% of trading days at all ten gold sizes |
| Valcambi cheaper than the random-brand bar | 2.2% (20 g) to 41.1% (10 oz) of days; 61.1% at 2.5 g (since Feb 2026) |
| 1 oz median premium over the Ask | Valcambi 3.31%; random brand 2.73%; PAMP 4.11% |
| 1 oz today, check/wire | Valcambi $4,115.07: $16 more than the random brand, $23 more than PAMP |
| A gram of gold today | $133.79 in the 100 g CombiBar; $168.08 in a 1 g bar |
| Silver | 100 oz cheaper than the random brand on 51.6% of days; the kilo dearer on 287 of 288 |
| Accreditation | LBMA gold since 20 May 1968, silver before 1972; LPPM platinum and palladium |
Who makes Valcambi gold?
Valcambi SA, founded in 1961 in Balerna, in the Swiss canton of Ticino, as Valori & Cambi. Its history lists the Essayeur Fondeur hallmark from 1965 and Good Delivery status for gold and silver from 1968; the LBMA’s silver list shows it as accredited before 1972, and the LPPM lists it for platinum and palladium. Valcambi gives its refining capacity as about 2,000 tonnes of precious metals a year (at a glance).
Credit Suisse held a stake from 1967 and all of it from 1980, so Credit Suisse bars were made in Balerna. The bank sold it in 2003 to a group led by Newmont Mining, which called Valcambi “one of the world’s largest gold and silver refineries” when it sold its stake to a Rajesh Exports subsidiary in July 2015; Bloomberg reported a $400 million price for the whole company. Valcambi is now owned by Global Gold Refineries, held 95% by REL Singapore and 5% by India’s Rajesh Exports.
Is Valcambi gold cheaper than PAMP?
Usually, at every size. As a share of the gold, the gap is widest on small bars: Valcambi's premium was a median 5.8 points below PAMP's at 1 g and 0.68 points below at 1 oz. In dollars it grows with the bar, from $6.30 per bar at 1 g to $20 at 1 oz and $1,237 at 1 kilo. At today's prices the 1 kilo Valcambi bar costs $826 less than the PAMP kilo, though the Valcambi kilo is out of stock.
Why is Valcambi gold cheaper? Not because of the gold: both refiners are LBMA-accredited and both bars are 999.9 fine. A standard Valcambi bar is plain, with a serial number, in a sealed blister; PAMP’s Lady Fortuna adds a minted design and, on many bars, the Veriscan scanning system, and carries the larger premium. In the last 30 trading days to 3 November 2026, Valcambi was the cheaper of the two on most days at eight of ten gold sizes; at 1 oz and 100 g the Lady Fortuna was. Other brands are compared in the gold bar brands guide, PAMP’s range in the PAMP guide.
Does Valcambi cost more than a random-brand bar?
A little, at most sizes. From 5 g to 1 kilo, Valcambi's median premium sat 0.1 to 1.2 points above the random-brand bar's, about $19 on a 1 oz bar at today's Ask. At 1 g the gap was 5.7 points; at 2.5 g, where the random-brand bar was only listed in February 2026, Valcambi cost less on 61.1% of days. A random-brand bar is whichever recognized 999.9 bar the dealer has, chosen for price; a Valcambi bar is the same gold with a name you pick.
Valcambi gold bars
The large price is the check/wire price; the card/PayPal price is listed under it. Prices follow the live spot price.
What is a Valcambi CombiBar, and is it worth it?
A thin bar scored so it snaps by hand into small pieces, first issued in gold in April 2011 (Valcambi). Gold CombiBars include 100 × 1 g, 50 × 1 g, 20 × 1 g and 10 × 1/10 oz, 999.9 fine and 0.85 mm thick; silver ones as 100 × 1 g, 10 × 10 g and two “Skyline” bars of 3 × 1 oz and 16 × 1/4 oz. Each comes sealed in a blister with a certificate.
Today a gram of gold costs $133.79 in the 100 g CombiBar, $168.08 in a 1 g Valcambi bar and $135.08 in the solid 50 g bar (gold Ask: $127.89 a gram). Two-year median premiums: 5.8% for the CombiBar, 35.7% for the 1 g bar, 3.4% for the solid 100 g bar. So a CombiBar buys grams near the price of a solid bar. The catch is the seal: bars in their assay card resell better at our counter, and a broken-off piece is a loose gram without a certificate, so keep it whole until you need one.
Is Valcambi silver good?
Yes, as silver: Valcambi’s silver bars are at least 999.0 fine, from a refiner on the LBMA’s silver list. The price depends on the size. Valcambi's 100 oz bar cost less than the random-brand 100 oz on 51.6% of days and PAMP's cast 100 oz on 71.2%, though more than both in the last 30 trading days. Its kilo cost more than a random-brand kilo with an assay certificate on 287 of 288 days since September 2025 (a median 10.1 points more) and more than PAMP's cast kilo on 81.6% of days.
That kilo and the small formats are why Valcambi silver can look expensive. The 10 × 10 g silver CombiBar's median premium was 90.9% over the Ask (97.5% today), so about 48% of its price pays for the format rather than the silver. The silver bars guide compares brands and sizes. Valcambi's 1 oz platinum bar cost less than both the random-brand and the PAMP 1 oz platinum bars on 65.8% of days, though it cost more than both in the last 30 trading days.
How do you check a Valcambi bar and its certificate?
By hand: Valcambi’s site offers no serial-number lookup (checked 19 October 2026). Each minted bar carries a serial of two letters and six digits, its weight, metal and fineness, and Valcambi’s assayer hallmark, sealed in a PETG blister or capsule with a certificate showing the same serial. Valcambi’s certificates carry no signature, so a card without one is normal (Valcambi). Swiss precious metals control publishes registered assayer and melter marks in Prezius Info.
- The blister or capsule is sealed and undamaged.
- The serial number on the bar matches the certificate.
- The bar shows Valcambi’s hallmark, weight and fineness.
- The size matches Valcambi’s specification: a 1 oz gold bar is 22 × 38 × 2.3 mm.
- The seller is an established dealer, not a stranger below spot.
The guides to gold bar serial numbers and spotting fake gold cover the tests dealers use.
Do Valcambi bars resell well?
Yes, as far as a brand helps: Valcambi is an LBMA-listed Swiss name, and Bullion Trading LLC buys back bullion bars, coins and rounds, paying more for bars still in their assay card or sealed holder. PAMP bars resell for more than generic bars of the same weight, which is part of what their higher price buys.
The case against Valcambi is price. If the most gold for your money is all that matters, the random-brand bar cost less on most days at almost every size, and one day can reverse the usual order, as it has at 1 oz. Valcambi’s Green Gold (2008) is a separate product: gold from mines meeting its environmental and labor standards, kept apart through refining under an independent auditor (Valcambi).
How we did the research
We took the check/wire price Bullion Trading LLC recorded for each bar, about four times a day since 27 October 2024, used each day’s median, and divided it by the value of its fine metal at that day’s spot close (LBMA; after 28 September 2026, the 5 pm New York close). For 14 metal-and-size pairs we compared the Valcambi bar with the store’s random-brand and PAMP bars of the same weight (Lady Fortuna in gold, cast in silver) on days both had prices. “Cheaper” means by at least 50 cents; charts use 10-trading-day medians.
Limits: records start when a bar was listed (the Valcambi kilo in March 2025), prices are recorded while a bar is out of stock, and these are one dealer’s prices; card and PayPal are 5% higher. Monthly figures: CSV download.
The bottom line on Valcambi
Valcambi gold is good: LBMA-accredited Swiss gold that dealers know, and over two years it cost less than PAMP's Lady Fortuna on 86.2% to 100% of trading days at every gold size and a little more than the random-brand bar on most days. Choose it for a known name at little more than a generic bar, the random-brand bar when only the price per ounce matters. More from Valcambi:
Valcambi silver, platinum, palladium and coins
The large price is the check/wire price; the card/PayPal price is listed under it. Prices follow the live spot price.
Frequently asked questions
Who owns Valcambi?
Global Gold Refineries, held 95% by REL Singapore and 5% by Rajesh Exports, since 2015; Credit Suisse owned it from 1967 to 2003.
Is Valcambi better than PAMP?
Not purer: both are LBMA-accredited Swiss refiners making 999.9 gold. On price, usually: Valcambi cost less than PAMP's Lady Fortuna on 86.2% to 100% of trading days at every gold size from 1 g to 1 kilo. PAMP bars resell for more.
Can you check a Valcambi certificate online?
Not on Valcambi’s site, which has no serial lookup. Match the serial on the bar with the certificate and check the seal.
Sources
- LBMA, Good Delivery lists for gold and silver: Valcambi’s listing dates.
- LPPM, platinum and palladium lists (checked 19 October 2026).
- Valcambi, Our history and At a glance: owners, capacity.
- Valcambi, minted bars, CombiBar and Green Gold: specifications, serials, certificates.
- Newmont, Newmont Sells Stake in Valcambi (27 July 2015).
- Bloomberg, India’s Rajesh Exports Pays $400 Million for Gold Refiner Valcambi (27 July 2015).
- Swiss Federal Office for Customs and Border Security, Prezius Info: hallmark register.
- Bullion Trading LLC price records: every premium and count here.