The origins of our company date back to 1961, with the building of a precious metals refinery in Balerna, south-eastern Switzerland, by five private Swiss investors under the nameplate Valori & Cambi (literally ‘exchange of valuables’).
The business was founded on the trading of precious metals and banknotes. As with many nascent businesses, our first few years were challenging. Demand quickly outpaced available supply and the company struggled to meet the tight delivery requirements of an expanding customer base. A joint venture with a bank was the obvious next step, and Credit Suisse was a willing lender of gold to the plant. In those days the daily borrowing comprised a 200 kg physical metal loan every morning, being returned to the bank as 200 kg shiny new kilo bars in the evening.
