Provided are a silver-white copper alloy which has superior mechanical properties such as hot workability, cold workability, or press property, color fastness, bactericidal and antibacterial properties, and Ni allergy resistance; and a method of producing such a silver-white copper alloy. The silver-white copper alloy includes 51.0 mass % to 58.0 mass % of Cu; 9.0 mass % to 12.5 mass % of Ni; 0.0003 mass % to 0.010 mass % of C; 0.0005 mass % to 0.030 mass % of Pb; and the balance of Zn and inevitable impurities, in which a relationship of 65.5≦[Cu]+1.2×[Ni]≦70.0 is satisfied between a content of Cu [Cu] (mass %) and a content of Ni [Ni] (mass %). In a metal structure thereof, an area ratio of β phases dispersed in an α-phase matrix is 0% to 0.9%.