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Silver Prices in Swiss Francs
Silver is a highly popular commodity that is traded all over the world. Silver can be traded or quoted in any currency and is typically quoted by the ounce, gram or kilogram. If you are looking to buy or sell silver in Switzerland, for example, you would likely see prices quoted per ounce, gram and kilo in Swiss Francs.
The Swiss Franc is not only the official currency of Switzerland, but it is also the currency of Liechtenstein. The franc is also considered good, legal tender in the Italian exclave Campione d’Italia. The Swiss currency is produced by both the Swiss National Bank which provides all of the country’s banknotes and the Swissmint which provides the nation’s coinage.
The Swiss franc is a heavily traded currency and has a strong reputation as a safe-haven among traders and investors. The Swiss currency is often bought during times of economic or geopolitical distress. The Swiss Government and Swiss economy are widely considered to be some of the most stable in the world, hence their attractiveness. Switzerland in the past had a law in place that made almost half of the nation’s currency backed by gold. This law was repealed in 2000. In 2014, however, the country took a vote on the “Swiss Gold Initiative” which proposed that 20 percent of the nation’s currency be backed by gold. The referendum was voted down.
Silver Pricing in Swiss Francs
Silver can be bought and sold in the form of jewelry, coins, rounds, bars and more. One ounce silver coins, bars and rounds are very popular with individual investors, and in Switzerland these products would be quoted in Swiss Francs. The silver market is on a constant state of flux, and prices are always on the move.
The global market for silver can be affected by numerous potential factors. Some of the biggest influences on the price of silver may include jewelry demand, investment demand, industrial demand, interest rates, currency markets, inflation and more.
Unlike gold, which sees demand from jewelry markets and investors, silver also has a distinct source of demand from modern industry. Silver is currently used in a wide variety of industrial arenas such as solar energy, chemical production, electronics and more. As more industrial applications for silver are discovered, both demand and prices could potentially rise.
Swissmint is the official mint of the Swiss Confederation and is located in the capital city of Bern. This mint is responsible for the production of both circulation and bullion Swiss Franc coinage. The mint also produces various medals and commemorative coins and is an agency of the Swiss Government.
The Swiss National Bank
The central bank of Switzerland is known as the Swiss National Bank. The central bank’s job is to achieve price stability and foster economic growth, and the bank is in charge of the nation’s monetary policy. The Swiss National Bank is the only provider of the country’s banknotes, and although it does not mint them it is also in charge of the nation’s coin distribution. Like other central banks, the Swiss National bank maintains part of its reserves in gold. According to Forbes, Switzerland is one of the largest holders of gold bullion with 1040 tons, the largest amount of gold per capita in the world.
Credit Suisse is a multinational financial services firm located in Zurich. This company was founded in 1856 and was originally formed to fund the development of the country’s rail system. Eventually, Credit Suisse began shifting its focus to retail banking and it has acquired numerous other banks and financial services firms. Credit Suisse is also in the refining business. This company has a stellar reputation within the bullion industry for high quality and craftsmanship. Credit Suisse gold bars are a favorite among gold investors, and Credit Suisse produces a number of silver bars in various weights including one ounce, 100 ounce, 250 gram, 500 gram and one kilogram.
Switzerland is also home to Valcambi Suisse. This refiner has been in operation for over five decades and is located in the city of Balerna. The 100 gram Valcambi Silver Bar in new condition with assay is a fine example of the quality and craftsmanship that Valcambi is known for. This 100 gram silver bar contains .999 percent fine silver and features a unique serial number. These silver bars feature a sleek design and come with assay card.