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Good Delivery gold bar weighing 12.4 kilograms (400 ozt)) Good Delivery silver bar weighing 31.1 kilograms (1,000 ozt) The Good Delivery specification is a set of rules issued by the London Bullion Market Association (LBMA) describing the physical characteristics of gold and silver bars used in settlement in the wholesale London bullion market. [1]
The London bullion market is a wholesale over-the-counter market for the trading of gold, silver, platinum and palladium. Trading is conducted amongst members of the London Bullion Market Association (LBMA), tightly overseen by the Bank of England. Most of the members are major international banks or bullion dealers and refiners.
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This grade of silver is used to make bullion bars for international commodities trading and investment in silver. In the modern world, fine silver is understood to be too soft for general use. [1] Britannia silver has a millesimal fineness of at least 958. The alloy is 95.84% pure silver and 4.16% copper or other metals.
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The weight of the bar has decreased over the years. In 2002, Yorkie bars were 70 g (2.5 oz). [14] This had been reduced to 64.5 g (2.28 oz) by 2010, and was reduced further to 61 g (2.2 oz) in 2011 and then 55 g (1.9 oz) later that year. It was shrunk again in November 2014 to 46 g (1.6 oz).
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