Precious Metals

What it takes to make good delivery gold

Precious metals refiners are required to meet certain criteria for their products to qualify for "good delivery" status.

Images courtesy of Valcambi, SA.

To be put on the London Bullion Market Association’s “Good Deliverylist, 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).”

1839 Seated Liberty half dollarsInside Coin World: Spotlight on 1839 Seated Liberty half dollars: Content exclusive to this week’s print issue includes a look at the two subtypes of 1839 Seated Liberty half dollar and a commemorative coin program collectors didn’t want.

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.

Connect with Coin World:  

Sign up for our free eNewsletter
Like us on Facebook  
Follow us on Twitter

Community Comments