2g Metalor Gold Bar

A Swiss-Refined 2g Gold Bar from One of the Oldest LBMA Refineries

The 2g Metalor gold bar is a fractional minted bar produced by Metalor Technologies, a Swiss refiner whose roots trace back to 1852 in Le Locle, the heart of Switzerland's watchmaking region. Metalor was the first Swiss refinery included on the London Good Delivery List in 1934 and remains one of only four major Swiss gold refineries, alongside PAMP Suisse, Valcambi, and Argor-Heraeus. All five Metalor refining facilities worldwide hold LBMA Good Delivery accreditation.

At 2 grams, this bar contains approximately 0.064 troy ounces of 999.9 fine gold. The 2g denomination is relatively uncommon in Western bullion markets, sitting between the more standardised 1g and 2.5g steps. It finds stronger demand in markets where round gram denominations are preferred, such as Turkey and parts of the Middle East and India. For buyers in the UK, US, or Australia, the 2g Metalor bar competes most directly with 2.5g bars from other Swiss refiners, which tend to be more widely stocked by dealers.

Metalor's smaller minted bars (up to 10g) are sealed in blister-pack assay packaging with integrated certificates of authenticity. The tamper-evident design protects the bar and confirms weight, purity, and the refiner's hallmark. For larger minted bars from 20g upward, Metalor adds DataMatrix codes and serial numbers linked to their BullionProtect authentication system, developed jointly with Swiss security ink specialist SICPA. The 2g size falls below that threshold, relying on the sealed blister pack and Metalor's assay certification for verification.

Premiums on 2g gold bars are high relative to larger sizes, typically ranging from 10% to 20% over spot, reflecting the fixed production costs spread across a tiny amount of metal. The 2g denomination specifically tends to carry premiums comparable to or slightly above 2.5g bars because fewer refiners produce it, meaning less market competition. For buyers primarily concerned with minimising premium per gram, stepping up to 5g gold bars or larger delivers meaningful savings. The 2g bar makes most sense as an entry point for new buyers, a gift item, or a small addition to an existing collection.

2g Metalor Gold Bar Specifications

The bar features Metalor's standard minted design: the Metalor logo, weight, and purity markings on a polished surface. Metalor minted bars follow a functional Swiss design tradition with no decorative motifs or annual design changes. The focus is on legibility of weight and purity markings rather than artistic detail, consistent with the approach taken by other major Swiss refiners in their standard product lines.

The blister packaging is credit-card sized, making the 2g bar extremely compact for storage or transport. The packaging integrates the certificate of authenticity, so no separate paperwork is required. Unlike Metalor's larger minted bars from 20g upward, the 2g does not carry the BullionProtect security ink or DataMatrix code features. Authentication at this size relies on the sealed blister packaging, the Metalor hallmark, and the refiner's reputation. For additional verification, the Metalor Check mobile application can authenticate kilobars and larger minted bars, but the 2g falls outside its supported range. Buyers seeking app-based verification should consider Metalor bars at 20g or above, where the full suite of digital security features is available.

Tax Treatment of the 2g Metalor Gold Bar

As a 999.9 fine gold bar from an LBMA-accredited refinery, the 2g Metalor qualifies for investment gold tax exemptions in most major markets. The treatment is consistent across gold bars from all major refiners at this purity level.

Purchase Tax

• United Kingdom: VAT-free. Investment gold bars at 995+ fineness are exempt from the 20% VAT that applies to silver and platinum bars.
• European Union: VAT-exempt under EU Directive 98/80/EC, which exempts investment gold bars of 995+ fineness. This applies across all 27 member states.
• United States: No federal sales tax. State-level sales tax varies. Approximately 35 states exempt investment bullion, while around 10 states tax it and 5 have partial exemptions with purchase thresholds.
• Canada: GST/HST exempt for gold at 99.5%+ purity under the Excise Tax Act.
• Australia: GST-free for investment-grade gold at 99.5%+ purity.
• New Zealand: GST-exempt for gold at 99.5%+ purity.
• Singapore: GST-exempt under the Investment Precious Metals (IPM) scheme for gold at 99.5%+ purity from LBMA-accredited refiners.
• Hong Kong: No sales tax of any kind. No import duties.
• South Africa: Gold bullion is zero-rated for VAT purposes (the Krugerrand-specific zero-rating under s11(1)(k) applies to gold coins; gold bars fall under the broader investment gold provisions).

Capital Gains and Retirement Accounts

• UK: Gold bars are subject to Capital Gains Tax. Unlike Britannia or Sovereign coins, bars are not UK legal tender and therefore do not qualify for CGT exemption. The annual CGT allowance is currently £3,000.
• US: Physical gold is classified as a collectible by the IRS, with a maximum long-term capital gains rate of 28%. Short-term gains are taxed as ordinary income. Gold bars at 99.5%+ purity from LBMA-accredited refiners are generally eligible for inclusion in a self-directed Precious Metals IRA when held by an approved custodian.
• Canada: Capital gains inclusion rate of 50% (66.67% above CAD $250,000 annually). RRSP and TFSA eligibility for qualifying bullion.
• Australia: Subject to CGT, with a 50% discount for holdings over 12 months.
• Germany: Capital gains are tax-free if the gold is held for more than one year.

2g Metalor vs Other 2g Gold Bars

The 2g gold bar market is narrow. Fewer refiners produce 2g bars compared to the more standard 1g, 2.5g, or 5g denominations, so the available options are limited. The main competitors are the 2g PAMP Suisse Fortuna and bars from Valcambi and Argor-Heraeus.

Against the PAMP Fortuna, the Metalor bar typically carries a lower premium. PAMP's iconic Lady Fortuna design and VeriScan authentication technology command a brand premium that Metalor's plain functional design does not. Both are Swiss LBMA-accredited refiners producing 999.9 fine gold, so the metal content and institutional credibility are identical. The difference is purely in branding and security features. Buyers who prioritise getting the most gold for their money will prefer the Metalor; those who value the recognisable PAMP design and digital verification may pay the PAMP premium.

Compared to Argor-Heraeus and Valcambi 2g bars, the Metalor sits in similar premium territory. All three are Swiss LBMA refiners with comparable credentials. Argor-Heraeus offers its Kinebar variant with holographic security at a higher premium point, but the standard Classic bar competes directly with Metalor. Valcambi does not offer a distinctive security feature at the 2g size either, making these three largely interchangeable from a value perspective.

The 2g Sunshine Minting bar provides an American-made alternative. Sunshine Minting, based in Idaho, is known for its MintMark SI security feature and its role as a planchet supplier to the US Mint. Premiums on Sunshine bars tend to be competitive with or slightly below Swiss-branded equivalents, though dealer availability in European and Australian markets may be limited compared to the Swiss brands.

For buyers not committed to the 2g denomination specifically, moving up to 5g gold bars delivers a meaningful reduction in per-gram premiums. The 2g sits in an awkward position: not as affordable as 1g for impulse purchases, and not enough of a step up from 2.5g to justify the non-standard denomination. Its strongest use case is where the buyer specifically wants more gold than 1g but less outlay than 2.5g, or in markets where round gram denominations are the norm.