PAMP Refinery: PAMP Suisse Gold from MKS PAMP in Ticino
PAMP Refinery is the refinery and mint of MKS PAMP SA in Castel San Pietro in Ticino, and PAMP Suisse gold is the brand name of its bars. The company PAMP SA was founded in 1977 and merged into MKS PAMP SA in 2021. The reverse of many small bars shows Fortuna, the Roman goddess of fortune.
From PAMP to MKS PAMP
PAMP SA was founded in 1977 in Castel San Pietro in Ticino. In 1979 Mahmoud Kassem Shakarchi founded the precious metals trader MKS (Switzerland) SA in Geneva, which took a majority stake in PAMP in 1981. After the founder’s death in 1983, his children Marwan and Karma Shakarchi took over the management.
On 30 November 2021 MKS (Switzerland) SA and PAMP SA merged to form MKS PAMP SA. Since then MKS PAMP has been the name of the company and PAMP the name of the brand on the bars. Accordingly, the LBMA list shows the refinery as MKS PAMP SA. So anyone searching for ‘PAMP Suisse’ will find products of the same company.
Sites and group
Trading and treasury are based in Geneva, the refinery and mint in Castel San Pietro. There are also trading offices in New York and Hong Kong. According to the company, the MKS PAMP Group comprises two refineries, three mints, eight online shops and more than 1,650 employees.
The group also includes MMTC-PAMP India in Mewat (state of Haryana). It has also been on the LBMA Good Delivery List for gold since 2014.
Products: bars with the Fortuna design
PAMP mints bars in gold, silver, platinum and palladium from around 0.3 g to 1 kg. According to the company, PAMP was the first precious metals processor to give the reverse of small bars an artistic design. The best-known design is Lady Fortuna, the Roman goddess of fortune.
Many minted bars are supplied individually in a sealed card showing weight, fineness and serial number. The refinery in Castel San Pietro is also on the LBMA list and may therefore deliver bars for the London wholesale market.
What is Veriscan?
Veriscan is a patented verification method from PAMP. It records the microscopic surface structure of a bar during production, much like a fingerprint. Later the bar can be scanned again and compared with the stored profile. This allows registered bars to be identified unambiguously and counterfeits to be detected more easily.
For investors, Veriscan is an additional way to check a bar alongside the usual checks of weight, dimensions and packaging.
Certifications
The refinery in Castel San Pietro has been on the LBMA Good Delivery List for gold since 1987. This means the LBMA requirements on minimum production, equity, quality checks every three years and responsible sourcing with an annual independent audit apply to it.
PAMP among the Swiss refineries
MKS PAMP is one of five Swiss refineries on the LBMA gold list. Together with Argor-Heraeus in Mendrisio and Valcambi in Balerna, it lies in southern Ticino right next to two other large manufacturers. Unlike Argor-Heraeus (Heraeus Group) and Valcambi (Rajesh Exports), MKS PAMP is owned by a family.
The LBMA records several former PAMP bar marks on the Former List. The mark ‘PAMP SA SWITZERLAND’ was moved on 30 November 2021, when the company name changed after the merger; a further change followed at the end of 2022. Today a mark with the PAMP logo, ‘Switzerland’ and ‘Essayeur Fondeur’ is listed.
What should buyers of PAMP bars look out for?
As with any minted bar, the sealed card should be undamaged, and the serial number on the bar and the card should match. A damaged seal does not make the bar worthless, but it can make an additional check necessary on resale. For bars with Veriscan registration, comparing the surface structure is also available.
Small bars under 1 ounce usually carry a higher premium per gram than large bars, because minting and packaging take a similar effort for every size. This applies to all manufacturers.
