When it comes to silver refineries, the big names are Swiss, German or Anglo-Saxon. And France? It has a real industrial history in refining — embodied by the Compagnie des Métaux Précieux — but remains discreet today when it comes to mainstream investment silver bars. Here’s why.
The Compagnie des Métaux Précieux
The Compagnie des Métaux Précieux (CMP) was, historically, a major French reference in the refining and working of precious metals. It reflects a French metallurgical expertise that existed and mattered, serving industry, jewelry and minting.
Why France produces few silver bars today
The market for investment silver bars aimed at the general public has become concentrated among a few international refiners (Swiss, German, North American) that benefit from economies of scale and LBMA accreditation. France, unlike Switzerland or Germany, no longer has a comparable major national producer of mainstream silver bars.
The Monnaie de Paris, the official institution, mints coins (including collector and investment silver coins), but the French landscape for investment silver bars remains modest compared to the foreign giants.
What this means for the French investor
In practical terms, the French investor most often buys bars from recognized foreign refiners — this is perfectly normal and takes nothing away from quality or liquidity:
- a PAMP, Valcambi or Heraeus bar is accepted everywhere;
- what matters is the 999 purity and the hallmark of a recognized refiner, not the country of manufacture.
The idea of a French range (for example a white-label product, minted by a Swiss or German refinery for a French dealer) is in fact a path explored by some market players.
Buying and selling silver in France
Even if the manufacturing is foreign, the purchase and buyback do take place in France, through dealers and gold merchants. To gauge the fair price:
- check the silver price;
- understand the 20% VAT applicable to investment silver;
- compare the best silver bar brands before buying.
In summary
- The Compagnie des Métaux Précieux embodies the history of French refining.
- France no longer produces a major mainstream investment silver bar; the market is dominated by Swiss, German and North American refiners.
- For the investor, only the 999 purity and the hallmark of a recognized refiner matter, not the country.
- Buying and buyback take place in France, at the current price.
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This article is informational and does not constitute investment advice.