What is good gold bullion?
Gold was and still is a reliable source of savings. But its amount on Earth is strictly limited. At the same time, the lion's share of investors seeks to invest in physical assets - in other words, the gold bars themselves. This is quite justified because what we can touch, see, and feel gives us more peace of mind.
At the same time, there are cases when investors in pursuit of the precious metal are faced with unreliable sellers: they buy fake gold bars or gold of low quality and therefore of low value. How to avoid it? We suggest you learn a little more about how to identify really good gold bars.
How to buy good gold bars?
First of all, you should not buy gold from private individuals. Choose a reliable company that has a positive reputation and a high rating among clients. Such a company for you may be the Golden Way. In addition, the best way to protect yourself from fraud with the bullion is to buy directly from the manufacturer. And in this case, Golden Way will also be a good choice.
And, of course, it is important that the bars you choose are certified by a special regulatory body - LBMA.
What is the LBMA and how does it affect the gold market?
The London Bullion Market Association is an organization that has been regulating and monitoring transactions in precious metals for more than 30 years. The functions of this organization are quite extensive and they cover almost every part of the market.
- LBMA draws up, approves and controls the list of accredited gold producers and organizations, which have the right to put samples on bars.
- This organization sets the standards for gold transactions.
- The LBMA is constantly working to promote bona fide transactions in precious metals.
- It coordinates all transactions and bullion storage organization.
Companies that have passed the LBMA audit are considered trustworthy and their bullion fully meets the quality standards set by the LBMA. The strictness of the audit is incredibly high, and even the smallest detail can be grounds for denial of certification.
What requirements does the LBMA have for bullion?
Gold bars certified by the LBMA meet the following criteria:
- They contain at least 99.5% pure metal (gold). That means that the inclusion of other metals may be no more than 0.5%.
- The weight of the ingot is between 350-430 troy ounces (10-13 kilograms).
Only such bars are allowed to trade on the London gold market. In addition, LBMA certification implies that the bullion vault must also be in London or Zurich. If you want to buy good bars, the best solution is to ask the seller for an LBMA certificate. If it is not available, you can either rely on your own risk and buy gold or get an independent expert to examine it. Both options are quite risky because it is all about your money and time.
Our company strictly follows the established rules of the LBMA. Therefore, our buyers and investors can be calm about the quality of the bullion purchased at Golden Way. We help people invest their money wisely and without risk.