Valcambi SA – a Swiss refinery with global trust

02. 02. 2026

Valcambi SA is one of Switzerland's leading precious metal refiners. The company was founded in 1961 and is based in Balerna in the canton of Ticino, in southern Switzerland. This region has long been one of Europe's centers for gold processing and trading.

Since its inception, Valcambi has specialized in refining and manufacturing precious metal investment products. The refinery holds LBMA Good Delivery certification for both gold and silver, which means that its bars meet international standards for weight, purity, and manufacturing processes and are accepted without restriction on global markets.

Thanks to its combination of technological expertise, long-standing reputation, and strict quality control, Valcambi is one of the leading manufacturers of investment bars not only in Europe but also globally.

The security and stability of neutral Switzerland

Switzerland became a center for gold refining and finance not only because of its central location in Europe, but above all because of its long-term political stability. It has maintained its neutrality since the 19th century, and while neighboring countries were at war and confiscating property, Switzerland became a safe haven for capital. It was in this environment that refineries such as Valcambi were established, whose task is to convert gold and silver into standardized and internationally recognized investment products.

Gold and silver investment products

Valcambi produces investment bars of gold and silver in the highest purity. The products are available in a wide range of weights, from small gram bars to kilogram formats.

Celistvé slitky

Solid (classic) ingots are the standard form of physical investment metal. They are particularly suitable for:

• long-term value preservation,
• larger investments,
• institutional and private clients.

Each ingot is marked with the manufacturer's name, purity, weight, and serial number, and comes with a certificate of authenticity.

CombiBar™ – divisible investment bar

In addition to classic bars, Valcambi also offers CombiBar™, which responds to the need for greater flexibility in holding physical gold or silver.

CombiBar™ is an ingot divided into smaller units—usually 1 gram—using predefined dividing lines. These parts can be physically separated without compromising the purity or identification of the individual parts.

Practical use:

• possibility of selling as fractional gold in parts
• easier transfer of smaller volumes of metal
• maintaining liquidity without the need for remelting or exchanging ingots.

CombiBar™ is therefore suitable for investors who want to combine the advantages of physical gold with the possibility of working with smaller units.

Summary

Valcambi is an established European producer of investment precious metals with a long history, international certification, and a stable reputation. Its products—both classic bars and the divisible CombiBar™ format—are designed for investors who prefer transparency, standardization, and a high degree of liquidity for physical metal.

Facts and interesting information

🏛️ Founded in 1961 under the name Valori & Cambi (Valori = values, Cambi = exchanges/trades).
🏢The ownership structure of the Valcambi refinery has gradually changed from Credit Suisse to Newmont Mining Corporation to the Rajesh Exports industrial group.
🌍 Strategic location: Ticino is a historic crossroads of Italian trade and Swiss law, an ideal location for refining and financial services.
🏭 Modern facilities: The refinery covers 3.3 hectares, operates with state-of-the-art technology and 24/7 security surveillance.
👥 Small team, global impact: approximately 170 employees process thousands of tons of gold and silver annually.
💰 CombiBars were launched in 2011
🍫 Ticino and chocolate – the canton is home to Swiss chocolate makers and premium cocoa bean products, so the colloquial name "chocolate" for CombiBars has local support.
🔬 Certification and ethics: gold and silver are LBMA Good Delivery and Responsible Silver certified – all products are from verified and ethically sourced sources.

🏭 Annual metal processing at Valcambi

Metal	Annual processing (tons)
Gold	~945
Silver	~325