The Trekker is serrated, but Victorinox serrations are very minor. You can make them out in the picture but just barely. The nice thing about them is that if you don't like serrations (like me) you can just sharpen them out into a straight edge.
For the money this knife is tough to beat. The saw is excellent for making figure 4s and deadfalls, and the one-handed opening locking blade is great to have on a swiss army knife. And if you lose it you don't feel quite as bad as if you lost your Sebenza.
The reason we can hardly see the serrations is that they are ground on the other side of the blade, the side facing away from the Victorinox shield on the handle. I haven't been able to find a photo of the knife from the reverse side. BTW, the main knife blade is entirely sharpened from the reverse side, both the serrated and plain edged portions.
I agree, the serrations are very hard to see in a photo -- I think people are thinking major serrations like in a Spyderco, but they are not that pronounced in the Victorinox
Here's the other side. The main blade looks the same as the one on this OHF.
I am partial to a non-serrated edge myself, but this blade design was well thought out and works well. I was thinking of putting a plain edge on mine, but I think I will let time and wear do it for me.
That's the knife I keep in my kit as a backup to my EDC Charge Ti. I filed the serrations off the main blade and added some bright colored reflective tape (since it's black). For the price it's hard to beat.
My perfect version would be a one handed fireman with a file similar to Leathermans (diamond on one side). <img src="/images/graemlins/grin.gif" alt="" />
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