5g CombiBar Gold Bar

The Divisible Gold Bar: 5g in Five Breakable Segments

The 5g Valcambi CombiBar is not a conventional gold bar. Instead of a solid 5g piece, it is a star-shaped bar comprising five detachable 1g gold segments that can be snapped apart by hand. Produced by Valcambi SA, one of the world's largest precious metals refineries, based in Balerna, Switzerland, the CombiBar was first introduced in April 2011 as a 50g gold bar (50 x 1g grid). The 5g star-shaped version is a smaller, gift-oriented variant of that original concept.

Valcambi has been LBMA Good Delivery accredited for gold and silver since 1968 and holds LPPM accreditation for platinum and palladium. The refinery's annual combined processing capacity is approximately 2,000 metric tonnes across all precious metals. At 999.9 fineness, the CombiBar matches the purity of every other major Swiss refiner bar.

The CombiBar's entire value proposition is divisibility. A buyer who owns a standard 5g Argor-Heraeus Classic bar must sell the whole 5g or nothing. A CombiBar owner can snap off a single 1g segment and sell or gift it independently, keeping the remaining four grams. Each individual 1g segment is stamped with the Valcambi name, "SUISSE" origin mark, and weight/purity, making it identifiable as a Valcambi product even after separation.

The trade-off is provenance. The entire CombiBar ships in tamper-evident PETG blister packaging with a serial-numbered assay certificate. Once the blister is opened and a segment broken off, the original assay certification no longer applies. Individual segments can still be verified by weight and hallmark, and most dealers will buy them, but potentially at a slightly lower price than a sealed CombiBar. Buyers who do not anticipate needing to liquidate in 1g increments will get better value from a solid bar, which preserves its assay certification throughout its life.

At roughly the same price as a 5g PAMP Fortuna, the CombiBar costs slightly more per gram than a solid bar of equivalent weight due to the additional manufacturing complexity of the groove-cutting and individual stamping. This premium is the price of the divisibility feature.

5g Valcambi CombiBar Specifications

The 5g star shape is a departure from the standard rectangular grid format used by the larger CombiBars. The five-pointed star has each point as a detachable 1g segment, designed primarily for the gift market. The grooves between segments allow separation by hand without tools. The design is patented by Valcambi.

The broader CombiBar range includes gold configurations at 20g (20 x 1g), 50g (50 x 1g, dimensions 74 x 52.5 x 0.85 mm), 100g (100 x 1g), and 1 oz (10 x 1/10 oz). Silver, platinum, and palladium CombiBars are also produced. The 50g gold CombiBar, the original product launched in April 2011, is approximately credit-card sized and thin enough to fit in a standard wallet at just 0.85 mm thick.

The PETG blister packaging is tamper-evident: once opened to access the segments, it cannot be resealed without visible damage. The serial-numbered assay certificate inside certifies the entire bar as a unit. Once a segment is broken off, neither the remaining bar nor the separated segment retains the original assay certification. Individual 1g segments can be verified by their Valcambi hallmark and weight, but they carry less provenance than a sealed bar in its original packaging.

Tax Treatment of the 5g CombiBar

At 999.9 purity from an LBMA-accredited refiner, the CombiBar qualifies for the most favourable investment gold tax treatment in all major markets. The divisible format does not alter the tax classification.

• United Kingdom: VAT-exempt as investment gold (bar form, 999+ fineness). Subject to CGT on disposal. Not legal tender. When individual segments are sold separately after breaking the bar, each disposal is a separate CGT event calculated against the proportional acquisition cost.
• Switzerland: No VAT on investment gold. No capital gains tax for individual investors on private assets.
• United States: State sales tax varies. IRA-eligible at 999.9 purity from Valcambi (LBMA-accredited). However, some IRA custodians may have specific policies about divisible bars and may require bars to remain in original sealed packaging. Federal capital gains taxed at up to 28% (collectibles rate).
• European Union: VAT-exempt as investment gold under EU Directive 98/80/EC.
• Canada: GST/HST exempt at 99.5%+ purity. RRSP and TFSA eligible with approved custodians.
• Australia: GST-free as investment-grade gold.
• Singapore: GST-exempt under the Investment Precious Metals scheme. No CGT.
• Hong Kong: No sales tax, no import duty, no CGT.

For IRA or RRSP holders, the sealed packaging requirement is an important consideration. Once the blister is opened to break off a segment, the remaining bar no longer meets the "original sealed packaging" standard that some custodians require. This effectively makes the CombiBar an all-or-nothing product within a retirement account, negating the divisibility benefit in that context.

5g CombiBar vs Solid 5g Bars and Fractional Coins

The CombiBar's competitors are not just other 5g bars. It also competes against fractional gold coins and individual 1g bars, because its divisibility feature spans those categories.

Against a solid 5g Argor-Heraeus Classic or 5g PAMP Fortuna, the CombiBar costs more per gram due to the manufacturing complexity of groove-cutting and individual stamping. The solid bars also maintain their assay certification indefinitely, whereas the CombiBar's certification is destroyed on first use of the divisibility feature. For a buyer who plans to hold and eventually sell the entire 5g position, a solid bar is more cost-effective.

Against individual 1g bars, the CombiBar offers significant savings. Buying five separate 1g bars (each in its own assay card, individually packaged and certified) costs substantially more per gram than a single 5g CombiBar. The CombiBar achieves the per-gram premium of a 5g bar with the per-gram utility of 1g bars. The compromise is that separated segments lose their individual assay certification, whereas standalone 1g bars each retain theirs.

PAMP produces a Multigram product that serves a similar need. The PAMP Multigram is a card containing multiple individually sealed 1g bars that can be popped out, with each bar retaining its own assay certification after separation. This maintains individual bar provenance, which the CombiBar does not. The PAMP Multigram carries higher premiums to reflect this advantage.

Fractional gold coins at comparable weight (such as a 1/10 oz coin at approximately 3.1g) offer legal tender status, sovereign mint branding, and individual recognisability. A separated 1g CombiBar segment is a tiny square with minimal visual distinctiveness. For practical liquidity in the secondary market, a recognised fractional coin from a sovereign mint is easier to sell.