26

Jun 2025

26

Jun 2025

PAMP vs Valcambi Gold Bars: Which is the Best Investment?

By StoneX Bullion

When it comes to buying gold bars, two brands are renowned for their exceptional quality, purity, and craftsmanship: PAMP and Valcambi. But which of these offer the best investment?

In this article, we break down what you need to know about PAMP Suisse gold bars and Valcambi gold bars, including the differences between these two and which gold bar to choose based on your priorities.

About PAMP Suisse

PAMP, short for Produits Artistiques Métaux Précieux, is one of the most recognisable precious metal refineries in the world. It was established in 1977 in Switzerland, and quickly gained a reputation for its high-quality gold bars and intricate designs.

PAMP was the first refinery in the world to introduce artistic designs to its minted gold bar range. Their now iconic Lady Fortuna design features the Roman goddess of fortune, and is one of the most recognisable bullion bar designs in the world.

Today, PAMP Suisse forms part of the global MKS PAMP Group alongside companies like MMTC-PAMP India and the New York-based bullion dealer Manfra, Tordella & Brookes (MTB). Besides manufacturing physical gold bars, PAMP also produces silver, platinum, and palladium bullion products.

PAMP bullion products

PAMP offers a wide range of high-quality, investment-grade bullion products, including:

  • Gold bars: PAMP’s range of gold bars includes both minted and cast bars in various denominations, from a small 2.5g gold bar up to a much larger 250g gold bar. Most of the mint’s gold bars feature their iconic Lady Fortuna design, but PAMP also produces a Lunar Legends series of bars that feature animals from the Chinese zodiac. All of PAMP’s gold bars are minted with high purity gold, usually 999.9 fine.
  • Silver bars: PAMP also produces silver bars with the same designs and denominations as its gold bar range.
  • Platinum bars: PAMP’s platinum bar range is made from 999.9 pure platinum and features similar designs to the mint’s silver and gold bar range.
  • Palladium bars: PAMP Suisse is also one of the few mints to manufacture palladium bars, although these are much harder to find than their gold, silver, and platinum bars.
  • Multigram bars: PAMP also produces Multigram bars, which feature several 1-gram gold bars that can easily be broken into smaller pieces for more flexibility.
  • PAMP Pez dispenser: One of PAMP’s most fun investments is the Pez dispenser, which features a mix of pure silver or gold bars contained in a Pez dispenser.

PAMP design and craftsmanship

Design is one of PAMP’s strongest suits. Every minted bar is struck with a detailed image of Lady Fortuna, along with the refinery’s hallmark, weight, purity, and unique serial number. The mint also uses a unique VERISCAN® technology for additional security. This feature allows customers to verify the authenticity of their bars using microscopic surface data.

PAMP’s cast bars have a more traditional and stripped back appearance, with no intricate features or designs. These larger-sized bars only feature the mint’s name, metal type, and essential product information.

PAMP Suisse reputation

PAMP Suisse is widely trusted by investors and institutions around the world, and the mint’s bars meet Good Delivery standards set by the London Bullion Market Association (LBMA), the Swiss National Bank, and the Chicago Metals Exchange. In fact, PAMP is one of only a few refineries that have been appointed as Good Delivery referees by the LBMA.

See: LBMA: All You Need to Know

About Valcambi

Valcambi, also known as Valcambi Suisse, is the largest precious metals refinery in the world. Based in Balerna, near the Swiss-Italian border, the Valcambi refinery has an annual production capacity of 2,000 metric tonnes of refined metal, 1,600 tonnes of which are gold.

Since 2015, Valcambi has been owned by Rajesh Exports, the world’s biggest manufacturer of gold jewellery. Despite the change in ownership, the mint is still managed and operated by its Swiss team and its production processes and commitment to quality remain unchanged.

Valcambi offers a full range of services in the precious metals market, including assaying, fabrication, refining, and storage. While PAMP Suisse was the first mint to introduce a design on its gold bar range, Valcambi holds the unique position of being the first refinery in the world to produce a minted gold bar. Today, its gold bars are minted using a fully automated robotic system.

Valcambi gold bullion products

Valcambi manufactures a wide range of high-quality gold bullion products, as well as silver, platinum, and palladium bars. Their bullion range includes:

  • Gold bars: Valcambi’s bars are both cast and minted, and available in sizes from as small as 1 oz gold bars to larger 1 kg gold bars. All Valcambi’s gold bars are manufactured from 999.9 pure gold.
  • Silver bars: Valcambi’s silver bar collection ranges from the smallest 1 oz minted silver bar up to a 5 kg cast silver bar. All their silver bars are made from 999.0 pure silver.
  • Platinum & palladium bars: Valcambi’s range of platinum and palladium bars is much smaller than its gold and silver collection. Their platinum bars are good delivery, made from 999.5 pure platinum, and available in sizes from 1g up to 100g and a 1 oz platinum bar.
  • Gold CombiBar®: One of Valcambi's most unique innovations is the CombiBar®, a sheet of divisible mounted gold or silver bars. Each component is made from 1g gold or silver that can be easily detached and sold separately. Gold CombiBars® are available in sizes ranging from 10x1/10 oz to 100x1g oz, while the silver range includes a 10 x 10g silver CombiBar® and 100 x 1g silver CombiBar®.
  • Gold Coins: Valcambi also mints speciality gold coins and medals, such as the 1 oz Cook Island Armillary Valcambi Gold Coin which is composed of four interlocking ¼ oz gold rings.

Valcambi designs

Valcambi bars are known for their clean and minimal aesthetic. Their minted gold bar range features the Valcambi logo, a diamond made from four scalene triangles, along with inscriptions detailing the bar’s weight, metal type, fineness, and unique serial number. The reverse side often features the Valcambi Suisse name in bold capital letters.

Cast bars are even more simple than the minted range. They still feature the company's name, logo, and the bar's weight, purity, and serial number, but are less intricate since they are hand poured.

Valcambi mint reputation

Valcambi is a trusted and globally recognised precious metals refinery. It is fully accredited by the LBMA and is a member of prestigious organisations like the Swiss Association of Precious Metals Manufacturers and Traders Association and Responsible Jewellery Council (RCJ).

Keep Reading: What is a Gold Ingot?

PAMP vs Valcambi gold bars

Both PAMP and Valcambi are trusted, internationally recognised bullion manufacturers – but how do they compare? Let’s take a look at what each refinery offers in terms of gold investment.

Gold purity and weight options

PAMP and Valcambi both produce 99.99% pure (24 carat) gold bars in a wide range of sizes, from as small as 1 gram to as large as 1 kilogram. This diversity in weights means their gold bar range is accessible to both first-time buyers as well as seasoned investors.

If flexibility is what you’re after, Valcambi’s innovative CombiBar® has the benefit of being able to be broken into smaller 1 gram gold bars for extra liquidity. That said, PAMP’s Multigram bars offer similar flexibility.

See: Gold Purity, Fineness, And Karat – What Is It And How To Check It

Security and authentication

Both PAMP and Valcambi incorporate modern anti-counterfeit measures in their range of gold bars. PAMP uses VERISCAN®, which is a blockchain-based, microscopic surface mapping system that verifies a bar’s authenticity when scanned with a smartphone. Their gold bars come with a free iPhone app and users receive results within seconds.

Valcambi uses Paira Suisse, a digital fingerprinting system with encrypted authentication. However, this technology is still fairly new and hasn’t been implemented to their full bullion range just yet.

So when it comes to security, PAMP Suisse is in the lead.

Design and aesthetics

If you value design and aesthetic appeal, you may prefer PAMP Suisse’s gold bar range with its intricate Lady Fortuna or Lunar Legends designs. These designs give PAMP’s gold bars additional value as a work of art on top of their high purity.

Valcambi’s bars are more minimal and feature the company’s logo along with essential information like weight or purity. They might be more suited for investors who want a straightforward gold investment with no additional frills.

Pricing and premiums

When you buy a gold bar, you’re paying a premium above the spot price of gold to account for things like manufacturing costs, brand value, and security features. Even if they seem small, premiums can add up to significantly impact your total investment, especially if you’re buying large quantities of gold.

PAMP Suisse carries the highest premiums in the market at about 10-20%. This is to compensate for the brand’s unique design and advanced security. Its Lady Fortuna range has the highest premiums of their collection, although special editions come with even higher premiums.

Valcambi’s premiums are much lower, about 10-15% below PAMP’s, although their CombiBar® has a slightly higher premium. This makes their gold bars more suitable for investors who value simplicity and want to get the most gold for their dollar.

Liquidity and resale value

PAMP and Valcambi are both globally recognised and accepted, making them easy to sell when the time comes.

PAMP gold bars have a lot of collector demand and are likely to sell for a higher price, especially if they feature the Lady Fortuna design. Their premium retention is estimated to be around 70-80%.

Valcambi bars might not fetch the same resale value as PAMP, but they’re still highly liquid and easy to sell. When it comes to CombiBars®, there’s also the added bonus of being able to sell off small quantities at a time without liquidating the entire bar.

Read: Selling Gold: How to do it right

Storage and packaging

There’s not much difference here – both PAMP and Valcambi sell their gold bars in secure, tamper-evident assay cards that contain the bar’s weight, purity, and authenticity.

Regional market dynamics

When it comes to resale, it helps to know which brand dominates which markets. You can then choose to buy gold bars that are favoured in your market, for easier resale.

PAMP is generally favoured by Asian markets, particularly China and India, although Valcambi is also gaining traction in those markets due to its ownership by Rajesh. In North America, PAMP is favoured by collectors while stackers prefer Valcambi for its lower premiums and simplicity. Both brands are widely accepted in Europe.

Pamp vs Valcambi gold bars: Which is the best investment?

At the end of the day, the best gold bar depends on what you're looking to get out of your investment. Both PAMP and Valcambi are excellent choices that offer trusted, high purity gold bullion bars, but they cater to different priorities.

PAMP Suisse stands out for its artistic designs and high resale premiums. This makes it a great option if you:

  • Value artistic design and brand prestige
  • Are buying gold to give as a gift
  • Want advanced security features like VERISCAN®
  • Want your gold bar to retain its premium for resale.

Valcambi gold bars have more minimal designs and lower premiums. They’re a better option if you:

  • Want to pay the lowest premiums over gold’s spot price
  • Are more focused on accumulating gold instead of design
  • Need divisible bars for flexibility (e.g. CombiBar®)
  • Are interested in sustainable gold sourcing
  • Prefer a more minimalist aesthetic.

Buy gold bars from the world’s most trusted refineries

Whether you’ve chosen to go for PAMP Suisse’s artistic designs or Valcambi’s minimalism, we stock both of these brand’s gold, silver, platinum, and palladium bars in a range of sizes here at StoneXBullion. If you want to explore other options, our collection of gold bars also includes those made by other prestigious refineries, like The Perth Mint, Argor-Heraeus, and C. Hafner.

Browse our gold bar collection and start preserving your wealth today.

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