1/10 oz CombiBar Gold Bar

The 1/10 oz Valcambi CombiBar Gold Bar

The 1/10 oz Valcambi CombiBar is a single segment from Valcambi's patented divisible gold bar system. Valcambi SA, founded in 1961 in Balerna, Switzerland, is one of the world's largest precious metals refineries with LBMA Good Delivery accreditation since 1968 and an annual refining capacity of approximately 2,000 metric tonnes across all metals. The CombiBar, launched in April 2011, was Valcambi's most innovative product: a flat, credit-card-sized bar scored with precision-cut grooves that allow it to be separated into individual segments by hand.

The 1/10 oz CombiBar segment comes from the 10 x 1/10 oz configuration, which totals exactly one troy ounce across ten segments. Each segment weighs 3.11 grams of 999.9 fine gold. The full CombiBar ships in a security-sealed PETG blister with a serial-numbered assay certificate from Valcambi. Once a segment is snapped off, that piece and the remainder both lose the original assay certification, though each individual segment is stamped with the Valcambi name, "SUISSE" origin mark, purity, and weight.

The CombiBar concept was designed for investors who want the bulk premium efficiency of a larger bar with the option to liquidate in smaller increments. Instead of selling an entire 1oz bar, an investor can break off a 1/10 oz piece and sell just that portion. This flexibility comes at a cost: a CombiBar carries a 5-15% premium over a standard solid 1oz bar of equivalent purity, reflecting the manufacturing complexity of the precision groove-cutting and individual segment stamping. Against buying ten separate 1/10 oz bars, the CombiBar is significantly cheaper per segment, since the assay cost is shared across the full bar.

Valcambi CombiBar 1/10 oz Gold Segment Specifications

Each 1/10 oz segment is individually stamped with the Valcambi hallmark and the CHI Essayeur Fondeur mark (the Swiss assay office certification). The grooves between segments allow clean separation by hand without tools. The full bar at 0.85mm thickness is one of the thinnest bullion products available, thin enough to fit in a wallet. The assay certificate sealed within the PETG packaging certifies the bar as a whole; once any segment is removed, the remaining bar and the separated piece cannot be verified by the original assay, though the physical hallmarks on each segment remain.

Tax Treatment of the 1/10 oz Valcambi CombiBar

At 999.9 fine gold from an LBMA-accredited Swiss refinery, the CombiBar qualifies for investment gold tax treatment in all major jurisdictions. The divisible format does not affect its classification.

• United Kingdom: VAT-exempt as investment gold (995+ purity). Subject to CGT on gains above GBP 3,000. Bars are not CGT-exempt. SIPP-eligible for pension investment. The divisibility feature is tax-neutral in the UK; selling a single segment triggers the same CGT calculation as selling a whole bar, based on the gain attributable to that portion.
• European Union: VAT-exempt under the Investment Gold Directive. In Switzerland, Valcambi's home country, investment gold is VAT-exempt and there is no capital gains tax for individual investors, making it one of the most favourable jurisdictions for holding gold.
• United States: No federal sales tax; state tax varies. Capital gains at 28% collectibles rate. IRA-eligible (Valcambi is LBMA/COMEX accredited, bar exceeds 99.5% purity). IRA custodians may have specific policies about divisible bars; some require bars to remain in sealed packaging, which would mean the CombiBar could not be separated while held in an IRA.
• Canada: GST/HST-exempt at 99.5%+ purity.
• Australia: GST-free at 99.5%+ purity.
• Singapore: GST-exempt under the Investment Precious Metals scheme.
• Hong Kong: No sales tax, no import duty, no capital gains tax.

CombiBar 1/10 oz vs Other Fractional Gold Options

The CombiBar segment competes with both standalone fractional bars and fractional coins, each with distinct trade-offs.

Against a standalone 1/10 oz gold bar from PAMP, Heraeus, or Baird & Co., the CombiBar segment offers lower per-unit cost when purchased as part of the full 10-segment bar. The premium on a full 1oz CombiBar is 5-15% above a standard 1oz bar, but well below the cost of buying ten individually packaged 1/10 oz bars. The trade-off is that separated segments lack individual assay certification and carry less provenance than a bar in its own sealed packaging. The Valcambi hallmark on each segment is sufficient for most dealer buyback, but the pricing may be slightly less favourable than for a sealed, individually assayed bar.

Against 1/10 oz gold coins, the comparison is more nuanced. A 1/10oz Gold Britannia or 1/10oz Gold Maple Leaf carries legal tender status, government backing, and instant recognisability. In the UK, the Britannia adds CGT exemption. Coins are individually identifiable and universally liquid. The CombiBar's advantage is the option to buy a full ounce and divide it later, deferring the decision about how much to sell at any given time. For buyers who know from the start that they want 1/10 oz pieces, coins are typically the better choice.

The CombiBar concept is unique in the bullion market. No other product offers the same combination of divisibility, low per-segment premium (relative to individual fractional bars), and multi-metal availability. The nearest analogue is PAMP's Multigram product, which houses multiple individually sealed 1g bars in a card. Each PAMP Multigram piece retains its own assay certification when removed, which the CombiBar segment does not. The Multigram preserves provenance at the expense of a higher per-gram cost; the CombiBar sacrifices individual assay for better premium economics.