The LBMA and recognized bullion<\/h2>\n<\/pre>\nRecognized bullion refers to high-purity gold, silver, platinum or palladium products (coins, bars or ingots) that are widely accepted by precious metals dealers and investors worldwide. Before understanding the criteria that must generally be met to be considered in this category, we must first briefly talk about the London Bullion Market Association (LBMA).<\/p>\n
The LBMA is the independent international authority for the world precious metals market. Established in 1987 by the Bank of England, its main functions are to set industry standards for trading and refining. These include:<\/p>\n
\n- The Responsible Sourcing Programme, which requires refiners to follow strict guidelines to combat money laundering, terrorist financing and human rights violations.<\/li>\n
- The Good Delivery List, which sets standards for the quality, purity, weight and physical appearance of gold and silver bars. Refiners who meet these strict criteria are eligible for inclusion on this list.<\/li>\n
- The Global Precious Metals Code, a set of principles imposing high standards of ethical behavior and conduct on the global precious metals market.<\/li>\n
- Setting reference prices: providing the global standard for the value of precious metals, the LBMA gold price and the silver price are determined twice daily, at 10:30 and 15:00 BST.<\/li>\n<\/ul>\n
Once refiners have met the high standards of the Good Delivery List, their products can be freely traded between market institutions. The LBMA conducts annual audits to ensure that refiners continue to meet its requirements and maintain their status on the Good Delivery List.<\/p>\n
The physical characteristics of recognized ingots mainly require a hallmark indicating weight (e.g. 1 oz, 1 kg, 50 oz), high purity (.999, 0.9999, etc.) and refinery or mint mark (RCM, PAMP Suisse, Valcambi, etc.). A unique serial number is generally required for bars.<\/p>\n
Because these products come from well-known sources, they are highly liquid. We can often resell recognized bullion quickly to other investors, enabling us to offer higher payouts, closer to the live market spot price.<\/p>\n
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![\"Variety](\"https:\/\/quebecgold.ca\/wp-content\/uploads\/2026\/05\/variety-of-gold-and-silver-coins-and-bars.jpg\")
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What are unrecognized ingots?<\/h2>\n<\/pre>\nUnrecognized bullion includes precious metal items that do not fit into the above categories, and generally includes:<\/p>\n
Recognized bullion refers to high-purity gold, silver, platinum or palladium products (coins, bars or ingots) that are widely accepted by precious metals dealers and investors worldwide. Before understanding the criteria that must generally be met to be considered in this category, we must first briefly talk about the London Bullion Market Association (LBMA).<\/p>\n
The LBMA is the independent international authority for the world precious metals market. Established in 1987 by the Bank of England, its main functions are to set industry standards for trading and refining. These include:<\/p>\n
Once refiners have met the high standards of the Good Delivery List, their products can be freely traded between market institutions. The LBMA conducts annual audits to ensure that refiners continue to meet its requirements and maintain their status on the Good Delivery List.<\/p>\n
The physical characteristics of recognized ingots mainly require a hallmark indicating weight (e.g. 1 oz, 1 kg, 50 oz), high purity (.999, 0.9999, etc.) and refinery or mint mark (RCM, PAMP Suisse, Valcambi, etc.). A unique serial number is generally required for bars.<\/p>\n
Because these products come from well-known sources, they are highly liquid. We can often resell recognized bullion quickly to other investors, enabling us to offer higher payouts, closer to the live market spot price.<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
What are unrecognized ingots?<\/h2>\n<\/pre>\nUnrecognized bullion includes precious metal items that do not fit into the above categories, and generally includes:<\/p>\n
Unrecognized bullion includes precious metal items that do not fit into the above categories, and generally includes:<\/p>\n
![\"1](\"https:\/\/quebecgold.ca\/wp-content\/uploads\/2026\/05\/the-royal-canadian-mint-1-gram-maplegram-gold-coins.png\")
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