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Apply margins, fees and Swiss VAT (7.7%) to get a compliant final price under Swiss precious metals law.
The final client price in Switzerland includes the metal cost (spot × weight × purity), the dealer's margin, any manufacturing costs (for jewellery), and the applicable VAT. In 2025, the standard Swiss VAT rate is 8.1%. Investment gold (bars ≥ 995‰ and listed coins) is exempt under Art. 107 para. 2 of the VAT Ordinance.
Final price composition varies significantly by product type. A 100 g bar (premium of 1–2% + 0% VAT) will have a final price very close to spot. An 18-karat jewellery piece (artisan margin of 200–500% + 8.1% VAT) moves far from it. Understanding this breakdown is essential for every Swiss buyer.
The FOCBS (Federal Office for Customs and Border Security, formerly FCA) oversees compliance in precious metals transactions. Dealers must display clear gross prices and provide invoices detailing weight, purity, and the reference spot price. This protects consumers and ensures fiscal traceability.
The final price of a piece of jewellery includes the metal cost (spot), but primarily the artisan's work (labor), the retail margin, and the Swiss VAT of 8.1%. Gold sometimes represents only 20% to 30% of the price of new jewellery.
The FOCBS (via Precious Metals Control) does not intervene on the margin but demands total transparency: the sponsor's mark and fineness must be inscribed, ensuring the client pays for the actual displayed purity.
Prices shown are indicative (LBMA mid-market). They do not constitute investment advice.