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Good Delivery gold bar weighing 12.4 kilograms (400 ozt) Good Delivery silver bar weighing 31.1 kilograms (1,000 ozt) The Good Delivery specification is a set of rules issued by the London Bullion Market Association (LBMA) describing the physical characteristics of gold and silver bars used in settlement in the wholesale London bullion market. [1]
Most of the members are major international banks or bullion dealers and refiners. The physical characteristics of gold and silver bars used in settlement in market is described by the Good Delivery specification which is a set of rules issued by the LBMA. It also puts forth requirements for listing on the LBMA Good Delivery List of approved ...
Listed refineries are eligible to produce and ship Good Delivery bars into London. These bars are used to underpin the global OTC gold and silver trades that are settled loco-London. The London Good Delivery standard is universally acknowledged as the de facto international benchmark for the quality of large gold and silver bars.
PAMP SA (Produits Artistiques Métaux Précieux) is an independent precious metals refining and fabricating company, and a member of the MKS Group.Established in 1977 in Ticino, Switzerland, the company originally started as a minting facility for bars weighing less than 100 grams and as an alloy specialist for the jewelry and luxury watch-making industries.
Bullion products from these trusted refiners are traded at face value by LBMA members without assay testing. By buying bullion from an LBMA member dealer and storing it in an LBMA recognized vault, customers avoid the need of re-assaying or the inconvenience in time and expense it would cost. [ 32 ]
In 1933, the COMEX was established through the merger of four smaller exchanges; the National Metal Exchange, the Rubber Exchange of New York, the National Raw Silk Exchange, and the New York Hide Exchange. Through the 1970s, 80's and 90's COMEX, NYMEX, and other exchanges shared a single trading floor [6] in 4 World Trade Center.
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A gold IRA or precious metals IRA is an Individual Retirement Account in which physical gold or other approved precious metals are held in custody for the benefit of the IRA account owner. It functions the same as a regular IRA, only instead of holding paper assets, it holds physical bullion coins or bars.