“Good Delivery” bars are those that meet the standards set by The London Bullion Market Association (LBMA). These rules and regulations are designed to establish quality control in the production of gold and silver bars worldwide.
The specifications for Good Delivery gold bars include:
1. Weight: The minimum gold content is 350 fine troy ounces and the maximum is 430 fine troy ounces. The bar’s gross weight should be conveyed in troy ounces and in multiples of 0.025. Always round down to the nearest 0.025 of a troy ounce. LBMA strongly suggests not stamping the weight on a Good Delivery gold bar. When bars are weighed in London by an LBMA-approved weigher, their weights may differ and their figures will be used. Any discrepancies can result in the need for an updated mark.
2. Dimensions: The approved dimensions for Good Delivery gold bars are:
- Length (Top): 250 mm +/- 40 mm; Undercut *: 5° to 25°
- Width (Top): 70 mm +/- 15 mm; Undercut *: 5° to 25°
- Height: 35 mm +/- 10 mm
*The undercut is the degree of slope on the side and ends of the bar.
3. Fineness: For the fineness to be acceptable, it must be a minimum of 995.0 parts per thousand fine gold.
4. Marks: There are two main surfaces on a gold bar. The larger of the two (the cast surface at the top of the mold) should be marked. The marks on it should include:
- Serial number
- Assay stamp of refiner
- Fineness (to four significant figures)
- Year of manufacture (unless already incorporated as the first four digits in the bar number)
Appearance is also of the utmost importance. Overall, Good Delivery gold bars must be in good shape, without cavities, cracks, holes, blisters, or extreme shrinkage.
For safety reasons, the edges should not be sharp, to avoid injury when handling. They should be both easy and safe to stack.
To learn more about the requirements, please see “The Good Delivery Rules for Gold and Silver Bars” by the LBMA.