Demystifying "LBMA Approved" for Gold Bars

The London Bullion Market Association (LBMA) operates global gold and silver OTC markets. The London Bullion Market Association (LBMA) was founded 1987 to regulate precious metal in imports and exports. All steps of precious metal production are done by over 145 persons in 20 countries.

Good Delivery List LBMA: The "Good Delivery List" tells LBMA members what kinds of gold and silver bars they can use in their deals, so you should always check it. Gold and silver bars that meet the requirements in the Good Delivery List are marked with the "Good Delivery" label by the LBMA. The LBMA only accepts Good Delivery bar refiners that make and buy bars that meet strict rules. Take refiners as an example, who must have been in business for three years. As a minimum, the company needs to be worth at least £15 million before it can apply for Good Delivery.

LBMA Minimal Gold Bar Standards

• Gold bars must be.995 fine, often known as 99.5% pure.

• Each bar should have the refiner's mark, batch number, quality, and year of production. These indicators help customers discover the refiner and bar information. Make sure markings are obvious, durable, and hard to reproduce.

• Most popular bar sizes are 1 kilogram, 100 grams, and 1 ounce. Each bar must be the proper size for shipping, handling, and construction. Such as the minimum is 350 fine troy ounces (10.9 kilograms) of gold. The maximum gold content is 430 fine troy ounces or 13.4 kilograms. The following sizes are recommended for Good Delivery gold bars : Top length: 250+/-40 mm, Undercuts: 5–25 degrees, Top width: 70 mm, undercut: 5–25 degrees, height: 35 mm, +/–10 mm.

• Bars are protected by plastic or metal enclosures. The wrapper displays the bars' contents and makes them safer, and easier to move, and store. Correct packaging avoids fakes and facilitates bar identification.

What does "LBMA Approved" mean?

In addition to purity and grade, LBMA-approved gold makers must disclose how they make their products and their morality. Is everyone like that? Yes, Merchants, buyers, and refiners worldwide acknowledge the LBMA's gold bullion standards, a global leader in the precious metals industry. The LBMA determined gold prices. Every workday at 10:30 a.m. and 3:00 p.m. London time, an online auction selects the US dollar prize.