LBMA Good Delivery Standard
What the Good Delivery Standard Requires
The LBMA good delivery standard is the London Bullion Market Association's set of rules for bars accepted in high-value wholesale trades. When you're dealing with gold, that means bars weighing about 400 troy ounces (so a bit over 12 kilos), and they're at least 99.5% pure. Each bar shows a serial number, the stamp of the refiner (this needs to be LBMA-accredited), and some other key marks.
This standard is specifically for wholesale. If a bar is good delivery, one vault can send it to another without a fresh assay. That feature matters when large sums change hands between institutions. If you're interested in how prices are set for these trades, check our page on the LBMA gold price benchmark.
Accredited Refiners and Chain of Custody
To produce good delivery bars, a refiner has to pass the LBMA’s accreditation process. This involves an on-site review, detailed checks on quality and verification that proper records are kept. The LBMA publishes its current list of approved refiners, and that list does change, so you'll want to go straight to the source rather than rely on a printed list or a dealer’s word.
Chain of custody refers to the full paper trail that follows a bar from the refiner all the way to its present owner. Details like melting logs, assay results (for purity tests), and storage tags help buyers and vaults verify where a bar comes from. And, since fake bars have appeared, it’s important to match serials and stamps with the refiner’s documents and check for a valid assay certificate before you buy. Want to know how cast bars are different from minted bars? Take a look at our guide to cast vs minted bars.
What Good Delivery Does Not Guarantee
Just because a bar meets the Good Delivery standard, that doesn’t mean its resale price is fixed. You’ll get or pay what the market offers at that moment, factoring in the gold price plus any premium or discount set by dealers. Storage, insurance, and shipping aren’t covered by the standard and can affect what you need to pay. If you want more information on bar sizes and the practical drawbacks or benefits, our page on gold bar sizes has the essential details.
The label also doesn’t guarantee authenticity for a specific bar every single time. So it's wise to review documents, stick with registered firms, compare the full costs and, of course, keep your paperwork. Gold’s price can move unpredictably. You can lose money by investing in it.
Frequently asked questions
What is a Good Delivery bar?
A Good Delivery bar is a gold or silver bar that qualifies under LBMA rules for weight, minimum purity, markings, and records. It's meant to be accepted for settlement in the London bullion market. For gold, the bar weighs around 400 troy ounces and has a purity of at least 99.5%. If a bar comes from an LBMA-accredited refiner but differs in size, it’s not recognized as Good Delivery for London settlement.
How do I check whether a refiner is accredited?
You need to check the official LBMA website for its most up-to-date list of accredited refiners. That list gets reviewed and amended from time to time, so don’t rely just on a dealer’s claim or an out-of-date list.
Does Good Delivery mean a bar is worth more?
No, not by itself. The value moves with the gold price, not just the LBMA stamp, and premiums or discounts are set by buyers and dealers. Before buying, compare all costs, not just the bar’s technical details.