Only refiners whose bars have been accredited by the LBMA as meeting the minimum standards for trading on the London market appear in the Good Delivery List.
The LBMA produces Good Delivery Lists for gold and silver bars; detailing the names of accredited refiners, their listing date and the marking details of their bars. Because of the stringent assaying and bar quality criteria that applicants must satisfy to attain accreditation, the Lists are universally recognised as the de facto standard for the quality of gold and silver bars.
The List is used by many markets and exchanges for defining, in whole or in part, the deliverable brands within their jurisdictions. Recently, a number of exchanges have become licensed for this use.
Current Gold and Silver Good Delivery Lists
The Current Lists show refiners of gold and silver whose large bars were found to meet the required standard when originally tested. Listed refiners are proactively monitored on a three-year cycle to ensure that their assaying and refining capabilities continue to meet the required standard. In addition, the refiners’ financial and refined production data is reviewed annually.
It should be noted that inclusion in the Current list does not constitute or imply any representation or warranty by the LBMA as to creditworthiness or as to the services or goods supplied or quality or compliance with any specification relating thereto. No liability for direct or consequential loss, howsoever caused, whether by negligence or otherwise, whether by use of this list or reliance thereon, is accepted by the LBMA. If a bar bears more than one assay stamp, the lowest figure will be taken.
Former Gold and Silver Good Delivery Lists
The Former Lists include:
- Refiners who no longer produce bars at the locations listed;
- Refiners whose bars are no longer accepted as Good Delivery by the London Bullion market;
- Bars whose brand mark has been changed (in which case the current brand mark is described in the Current Gold or Silver List).
- Assayer-only companies which were previously granted Good Delivery status. Refiners are now expected to have the ability to assay as well as refine to the required standard.
However, bars produced by these refiners prior to their transfer to this list on the date given below continue to be acceptable as Good Delivery. The LBMA reserves the right to de-list bars after an appropriate period of time in cases where production has ceased.
Changes to the List
When a current refiner makes a change to its bar, either in terms of dimensions or markings, the existing list entry is replaced by the revised version, with the older version being transferred to the Former List. The Former List contains entries of both transfers of a particular bar produced by a Good Delivery refiner and also that of the refinery itself when its bars are no longer considered acceptable in the London Bullion market.