20g Metalor Gold Bar

The 20g Metalor Gold Bar

Metalor Technologies has been refining precious metals in Switzerland since 1852, originally supplying gold components to the watchmaking industry in Le Locle, the heart of Switzerland's Watch Valley. The company pivoted to banking bullion in 1864 and became the first Swiss refinery on the London Good Delivery List in 1934. Today, all five of Metalor's global refineries (Switzerland, USA, Hong Kong, Singapore, and China) hold LBMA Good Delivery accreditation, a distinction matched by very few refiners worldwide.

The 20g Metalor gold bar is a minted bar of 999.9 fine gold, produced at Metalor's Swiss facility in Marin-Epagnier, near Neuchatel. At this size, Metalor bars feature a DataMatrix code and individual serial number laser-engraved on the bar, plus the option of BullionProtect, a high-security ink developed in partnership with SICPA (a Swiss security ink company that also produces security features for banknotes). The BullionProtect seal is applied directly to the gold surface, adds less than 20 milligrams of weight, and contains a QR code scannable by any smartphone. If the bar is ever melted, the ink burns without introducing any impurity into the gold.

Metalor bars are institutional-grade products with a straightforward, functional design. There is no decorative imagery comparable to the PAMP Lady Fortuna or the Perth Mint kangaroo. The bar carries the Metalor logo, weight, purity, serial number, and the refinery's assay mark. This simplicity is reflected in the pricing: Metalor bars typically trade at premiums in line with or slightly below the other major Swiss refiners, making them a cost-efficient choice at the 20g weight class.

Metalor's combined worldwide gold refining capacity stands at approximately 800 tonnes per year. The company was acquired in July 2016 by Tanaka Kikinzoku Kogyo, Japan's largest precious metals group, creating a combined entity with significant global reach. Before the acquisition, Metalor had been independent since 1998 following the UBS-Swiss Bank Corporation merger (SBC had owned Metalor since 1918). The management buyout was led by Ernst Thomke, better known for revitalising the Swatch brand.

20g Metalor Gold Bar Specifications

Metalor Authentication Technologies

Metalor minted bars at 20g and above incorporate three layers of security. The DataMatrix code is laser-engraved onto the bar surface and links to a product verification webpage when scanned. The BullionProtect seal, developed jointly with SICPA, applies a high-security ink directly to the gold. This ink is robust enough to withstand handling but shows visible damage if tampering is attempted. The seal includes a unique QR code tied to Metalor's authentication records. Third, the Metalor Check app (available for iOS and Android) allows owners of minted bars from 20g to 100g to verify their bar and retrieve production data, including the facility where it was made, its purity, and detailed product specifications.

Smaller Metalor minted bars (1g to 10g) come in blister packs with certificates but lack the DataMatrix and BullionProtect features. The 20g size is the entry point for Metalor's full security suite, which makes it a particularly practical choice for buyers who value verifiability.

Metalor Gold Bar Range

Tax Treatment for the 20g Metalor Gold Bar

As a 999.9 fine gold bar from an LBMA-accredited refiner, the 20g Metalor bar qualifies for the most favourable investment gold tax treatment in every major market. It has no face value and is not legal tender, which is relevant for UK capital gains purposes.

• United Kingdom: VAT-exempt as investment gold (purity well above the 995 threshold). Subject to Capital Gains Tax at 18% or 24% on gains exceeding the £3,000 annual allowance. Unlike UK legal tender coins (Britannias, Sovereigns), gold bars carry no CGT exemption. SIPP-eligible as qualifying investment gold.
• United States: IRA-eligible. Metalor is LBMA-accredited and the bar exceeds the IRS 99.5% purity minimum. The US refinery in North Attleboro, Massachusetts also produces COMEX-deliverable bars. Capital gains taxed at the collectibles rate (28% maximum). Sales tax treatment varies by state.
• European Union: VAT-exempt under EU Council Directive 98/80/EC for investment gold bars of 995+ purity.
• Canada: GST/HST-exempt for gold at 99.5%+ purity. RRSP and TFSA-eligible through approved custodians.
• Australia: GST-free as investment-grade gold (99.5%+ purity). Subject to CGT with a 50% discount after 12 months.
• Switzerland: VAT-exempt on investment gold. Metalor is a domestic Swiss refiner headquartered near Neuchatel.
• Singapore: GST-exempt under the Investment Precious Metals (IPM) scheme. Metalor has had a Singapore refinery since 2013.
• Hong Kong: No sales tax, no import duty, no capital gains tax. Metalor has operated in Hong Kong since 1982.
• New Zealand: GST-exempt for fine gold bullion at 99.5%+ purity.
• South Africa: Gold bars are subject to 15% VAT (the zero-rating applies only to gold Krugerrand coins).

20g Metalor vs Other 20g Gold Bars

The 20g Metalor competes with bars from the other major LBMA-accredited refiners. All produce 20g minted bars at 999.9 fineness with serial numbers and assay packaging. The differences lie in security features, brand perception, and premiums.

Against the 20g PAMP Suisse Fortuna, Metalor offers a different value proposition. The PAMP Fortuna carries the iconic Lady Fortuna design and VeriScan digital authentication, and it commands the highest brand premium in the minted bar market. Metalor's BullionProtect and DataMatrix system provide comparable authentication capability at a lower price point. Buyers choosing Metalor over PAMP are prioritising cost efficiency without sacrificing LBMA accreditation or verification tools.

The 20g Kinebar from Argor-Heraeus offers a visually self-verifying Kinegram embossed into the gold surface, requiring no app or equipment to authenticate. Metalor's BullionProtect requires a smartphone to scan the QR code for full verification, though the physical ink seal also provides visual tamper evidence. Both are Swiss LBMA refiners with comparable premiums at this weight.

The 20g Valcambi gold bar is typically the lowest-premium Swiss option, but it lacks a dedicated authentication technology equivalent to BullionProtect, VeriScan, or the Kinegram. For buyers who want both a low premium and some authentication capability, Metalor occupies a useful middle ground.

The 20g Perth Mint gold bar brings government-mint backing from the Western Australian Government and is particularly strong in Australian and Asian markets. The 20g Umicore gold bar from Belgium is another LBMA-accredited option at competitive premiums, without a proprietary authentication system.

Metalor's distinguishing factor is the combination of LBMA credentials dating back to 1934, competitive pricing, and a genuine authentication technology in BullionProtect. The refinery also holds a place on the LBMA Good Delivery referee panel (since 2004), meaning Metalor is one of the select refineries that tests and evaluates other refineries' bars for compliance. That role underlines the institutional credibility behind each bar.