When you sell bullion there are a couple of things that you need to learn. The important thing is about quality of the gold or silver bullion you hold and to know whether your bullion meets the best gold standards in the world. The current standard that is used universally is the LBMA standard. The LMBA stands for the London Bullion Market Association. It is the difference between getting good quality gold from a reputable supplier. Gold bullion producers receives an “LBMA Certification” or “Good Delivery” which means that the bullion meets the best world standard for quality gold bullion in the world.
The London Bullion Market and Association was created by the Bank of England (BOE) in the late 1980s. At the time the Bank was tasked with regulating the bullion market then. The LBMA set refining and gold bullion purity standards. They are a base for the world’s richest gold traders and facilitate trades between refiners and supplies. Basically the LBMA is responsible for setting the value of gold.
The LBMA created the Good Delivery list for gold and silver. This outlines the criteria that gold and silver bullion must meet. If a refiner wants to be on the list, he needs to ensure that he meets every criteria set out. Being on the Good Delivery List is a guarantee for buyers that the bullion supplier is trustworthy and sells quality gold. Suppliers on the Good Quality list enjoy better sales because buyers can trust that they are getting the best gold or silver.
What are the LBMA criteria for the Good Delivery system?
Gold bullion bars have to be a certain length and will have an undercut of 5-25 degrees. The gold has to have a minimum fineness of 99.5%. A Good Delivery bar should be marked with fineness, a serial number, assay stamp as well as the year of production.
Since the Good Delivery List includes silver producers, there are standards for silver as well. In the case of silver bullion bars, there are requirements for a specific length and width as well as an undercut between 5 and 15 degrees. The minimum fineness for a silver bullion bars his .999 or 99.9%. The bullion bar should have a serial number stamped as well as an assay stay and the year it was manufactured.
If you have gold bullion bars to sell you should check if they meet these LBMA criteria. This could help you get the best price when you sell bullion bars. Some of the world’s most notable producers on the Good Delivery System include Argor-Heraeus SA, Johnson Matthey group, Heraeus, PAMP SA, Valcambi SA and ABC Bullion. There aren’t a lot of companies on the list most of the top gold producers are based in Switzerland. These include the likes of PAMP and Argor-Heraeus as well as Valcambi. There are other companies that are listed on the Good Delivery List from other countries. In Australia ABC Bullion has been producing good quality bullion for decades and it has been on the list for a while. So if you have bullion from ABC Bullion it would fetch high prices regardless of where you sell it.