To be put on the London Bullion Market Association’s “Good Delivery” list, silver and gold refiners must meet stringent standards for the precious metals bars they produce.

According to the LBMA, “The requirements for a Good Delivery listed bar (of approximately 400 troy ounces for gold and 1,000 troy ounces for silver) cover fine ounce weight, purity and physical appearance (including marking and surface quality).”

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Refiners that the LBMA accepts for placement on the silver and gold Good Delivery Lists “commit to responsibly sourcing metal, refining it into Good Delivery bars (of approximately 400 troy ounces for gold and 1,000 troy ounces for silver) and shipping to approved vaults in London. Bars are then freely traded between institutions within the market.”

Three years after being placed on the Good Delivery Lists, accredited refiners are subject to LBMA’s Proactive Monitoring, which is conducted on a three-year cycle.

The PAM program examines each refiner’s assaying competence. Should a refiner no longer meet the required conditions, then its bars would be moved to the Former List. View the Good Delivery Rules for further details.

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