For investors choosing to purchase physical gold bars, the Credit Suisse gold bar is a popular option. The Credit Suisse Group is a Swiss financial institution renowned across the globe for its minting of gold bars and fine gold bullion. This illustrious and well-respected international financial firm dates its inception back to 1856. It began as a financial holdings company before welcoming the production of precious metals into its portfolio.
Currently headquartered in Zurich, the Credit Suisse Group issues each gold bar with a unique serial number backed by the Bank of Switzerland.
History of Credit Suisse Gold Bars
Credit Suisse began as a company that supported the construction and infrastructure of the Swiss railway system as a public works project. The company boasts significant influence in Switzerland’s rise as an economic powerhouse during its first decades of existence. Industry experts credit the company for playing a vital role in developing the Swiss franc, assisting Swiss entrepreneurs, and solidifying the reputation of the National Bank of Switzerland.
In 1942, the financial conglomerate opened an office in New York City, where it became a major gold trading house. By 1978 the company acquired the First Boston Corporation in the US as part of its rebranding efforts and dubbed it CS First Boston.
In 1993, Credit Suisse acquired Swiss Volksbank, Switzerland’s fourth-largest financial institution. Then, pushing their power even further, Credit Suisse First Boston acquired Winterthur Insurance in 1997, sending the company on a rocket trajectory upward that landed them among the top ten financial institutions in the world.
Following this success, Credit Suisse opened Switzerland’s first online banking platform known as “Direct Net.” In 2002, the company went through another restructuring project in which Credit Suisse First Boston and Credit Suisse Financial Services streamlined their functions into two distinct business units. These companies offer clients investment products, private banking, financial advisory services, and investment banking.
The Credit Suisse Group began creating their gold bars in 1979 and continues to do so to this day. These minted gold bars came in varying weights and sizes and quickly became a valuable commodity as one of the most secure and affordable ways to own physical gold bars. Valcambi SA has produced gold bars for Credit Suisse Group since 2003 at its refinery in Valcambi, Switzerland, and remains the sole manufacturing partner for the company.
The rise of Credit Suisse is a testament to its enduring dedication to financial services in Europe and across the globe. Throughout the company’s history, they have shifted focus, restructured, and diversified their services to keep up with the world’s changing financial markets. This adaptive ability is why Credit Suisse remains one of the strongest financial institutions in the world.
Physical Characteristics of Credit Suisse Gold Bars
Gold Bar Design
The design of Credit Suisse gold bars is recognizable around the world. They mold each bar into the shape of a rectangle, stamping it with vital information unique to that bar. The stamp includes the bar’s unique serial number, gold content, and gold fineness to distinguish it from others like it. An example for a one-gram gold bar reads “1g, Fine Gold, 999.9.”
Another distinguishing characteristic of these gold bars is the Credit Suisse logo surrounded by a rectangular box stamped above the bar’s other information. Beneath the bar’s weight, gold content, and gold fineness information, also surrounded by a rectangular box, is the French term “Essayeur Fondeur.” This roughly translates into English as “Melting Tester” and represents the stamp of the manufacturer.
Despite Switzerland using German, French, and Italian in various parts of the country, French was the predominant language used in commerce at the time the bars were first minted; thus, the term “Melting Tester” was written in French.
The backside of the gold bars contains repeating diagonal Credit Suisse logos, similar to the one used on the front. Though these gold bars offer distinguishing characteristics and serial numbers, it is advisable to authenticate them with a professional metals advisor who has access to spectrometer testing equipment.
Specifications
Credit Suisse gold bars boast a 24-karat rating that makes them the purest gold available on the market. This karat distinction gives the bars a fineness rating of 0.9999. Given that the company makes these bars in Switzerland, most of their weight denominations use the metric system. However, some Credit Suisse gold bars come in troy ounces.
Troy ounce bars are available ranging from ten troy ounces to half a troy ounce. Standard gold bars range in size from one ounce or one to one thousand grams. The fineness of the gold bars contributes significantly to their value. However, due to the malleable nature of gold, these bars are subject to damage if not stored or moved carefully.
Pricing of Credit Suisse Gold Bars
Contrary to their bullion coin counterparts, gold bars do not classify as legal tender and are unusable in financial transactions. However, while some see this as a detriment, gold bars have advantages over bullion coins for investing.
First, gold bars are much easier to produce than bullion coins. This fact means their market price is much closer to their spot price. Market price refers to the value of the gold plus production and shipping costs, while market price refers to the trading value alone.
For those looking to purchase and own gold, buying Credit Suisse gold bars is an excellent option. The market value for these assets is determinant for establishing their value as part of an investment portfolio. However, as gold prices fluctuate daily, so does the value of Credit Suisse gold bars.
These assets are a liquid commodity in the precious metal market due to their recognizable logo, unique serial number, and reputation for being the most popular gold bars in the world. Given their remarkable reputation, Credit Suisse gold bars are easy to trade throughout global economic markets.
Credit Suisse Gold Bars IRA Investing
For those looking to use gold bars as an investment in their financial portfolio, the Internal Revenue Service (IRS) allows individual retirement accounts that adhere to specific requirements to carry bullion precious metals. These types of accounts fall under the category of “precious metal IRAs.”
These self-directed investment portfolios may only use IRS-approved bullion. The IRS recognizes gold, silver, platinum, and palladium bars for precious metal IRAs. Due to their financial stability and reputation, Credit Suisse gold bars are recognized as a viable asset by the IRS for precious metal IRAs.
A benefit of placing Credit Suisse gold bars into an investment portfolio is the diversification and market stability they bring. Investments in companies or utilities are subject to market fluctuations, where gold and other precious metals generally remain stable. In addition, the IRS requires a minimum purity level as a requirement for their tax code 408(b), which all Credit Suisse gold bars meet.
To qualify for a precious metal IRA, investors must purchase an initial value of $5,000 worth of precious metal bullion. Following this initial investment, additional purchases of precious metals must be a minimum of $1,000 each.
Another condition of the precious metal IRA is that the IRS requires all bullion to be stored in a depository for safekeeping. Depositories specialize in the protection, maintenance, and housing of valuable precious metals and other assets. Investors with additional funds have the option of rolling over or transferring capital into a precious metal IRA.
Most gold and precious metals trade in financial markets through retailers such as APMEX (American Precious Metals Exchange). However, Credit Suisse gold bars are available for purchase through the Credit Suisse Group directly. This option gives investors the ability to authenticate their gold by typing in the unique serial number of the gold bar through the company’s website. This searching ability minimizes any possibility of investors purchasing counterfeit gold bars.
Self-directed 401(k) retirement savings accounts represent another option for investing in Credit Suisse gold bars. However, given that most of these investment accounts are through private companies, it is critical to read over the investment policies to determine if they allow precious metal investment into a 401(k) self-directed retirement savings account.
In most cases, 401(k) plans do not allow precious metal investment into these portfolios. This is due to the tax-advantage status these investment plans carry. However, indirect investment plans may qualify for Credit Suisse gold bar inclusion. To determine the best course of action for your investment portfolio, consult with a financial advisor for Credit Suisse gold bar investment strategies.
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