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Good Delivery Silver Bars: The LBMA Standard

"Good Delivery" is the gold standard for silver bars, literally. These LBMA-certified 1000 oz bars are the backbone of the global silver market, traded between central banks, bullion banks, and institutional investors.

LBMA CertifiedLowest PremiumsInstitutional Grade

What is Good Delivery?

"Good Delivery" is a quality standard established by the London Bullion Market Association (LBMA). It specifies the exact requirements a silver bar must meet to be accepted for trading in the London wholesale market, the world's largest over-the-counter market for precious metals.

When a bar is "Good Delivery," it means any LBMA member will accept it without question. This fungibility is what makes the global silver market work, a Good Delivery bar in London is equivalent to one in Zurich or Hong Kong.

Good Delivery Specifications

Requirement	LBMA Good Delivery	COMEX Deliverable
Weight Range	750-1,100 troy oz (ideal: 900-1,100)	1,000 oz +/- 6%
Minimum Purity	.999 fine (99.9%)	.999 fine (99.9%)
Required Markings	Serial #, refiner, fineness, year, weight	Serial #, refiner, fineness, weight
Refiner Requirement	LBMA Good Delivery List	COMEX-approved brands
Appearance	No cavities, cracks, or excessive defects	No specific requirements
Physical Weight	~62-75 lbs (28-34 kg)	~62-75 lbs (28-34 kg)

LBMA-Accredited Refiners

Only bars from LBMA Good Delivery List refiners qualify. Here are some of the major refiners whose bars are widely traded:

Refiner	Country	Status
Johnson Matthey	UK/USA	Historical (acquired by Asahi)
Asahi Refining	USA/Japan	Active
Heraeus	Germany	Active
Valcambi	Switzerland	Active
PAMP Suisse	Switzerland	Active
Metalor	Switzerland	Active
Republic Metals	USA	Active
Royal Canadian Mint	Canada	Active
Perth Mint	Australia	Active

Why Good Delivery Has the Lowest Premiums

Lowest Cost Per Ounce

Manufacturing costs spread over 1000 oz
Direct access to wholesale market
No conversion costs when selling
Institutional demand provides liquidity

Trade-offs

High minimum investment (~$25,000)
Requires specialized storage
Not divisible (all-or-nothing)
Heavy (~70 lbs) - impractical for home

Institutional vs Retail Markets

Good Delivery bars exist in two worlds: the institutional wholesale market and the retail investor market. Understanding this helps explain pricing and liquidity.

Aspect	Institutional	Retail
Typical Buyer	Banks, ETFs, governments	High-net-worth individuals, IRA holders
Minimum Purchase	Usually 100+ bars	1 bar
Premium	Spot + 0.25-0.50%	Spot + 1-3%
Storage	LBMA-approved vaults	IRA depository or private vault
Selling	OTC market, instant	Back to dealer, may take days

IRA Eligibility

Good Delivery silver bars are IRA-eligible when they meet the standard IRS requirements (.999+ purity, from approved refiner). They must be stored at an IRS-approved depository, you cannot take home delivery for IRA holdings.

Where to Buy Good Delivery Bars

Not every dealer carries 1000 oz Good Delivery bars. Here are sources that do:

SD Bullion - Often best retail prices
JM Bullion - Multiple brand options
APMEX - Wide selection, premium service
Monex - Institutional-oriented dealer
Kitco - Global dealer with GD inventory

For IRA purchases, your Gold IRA custodian will typically source bars through their approved dealer network to ensure proper chain of custody and documentation.

Frequently Asked Questions

What is an LBMA Good Delivery silver bar?

An LBMA Good Delivery silver bar is a 1000 oz bar that meets the London Bullion Market Association's strict specifications for weight, purity, dimensions, appearance, and markings. These bars can be traded on the global wholesale market and are the standard for institutional silver transactions.

What are the Good Delivery specifications for silver?

LBMA Good Delivery silver bars must: weigh between 750-1100 troy oz, have minimum .999 fineness (99.9% pure), display serial number/refiner's mark/fineness/weight, be produced by an LBMA-accredited refiner, and have acceptable appearance (no surface cavities or defects).

What's the difference between Good Delivery and COMEX deliverable?

Good Delivery is an LBMA standard for the London market, while COMEX deliverable refers to bars acceptable for CME Group's silver futures contracts. Requirements are similar but not identical. COMEX allows slightly wider weight range (750-1100 oz vs LBMA's preference for 900-1100 oz). Many bars qualify for both.

Can individual investors buy Good Delivery bars?

Yes, but it requires significant capital ($25,000+) and specialized storage. Good Delivery bars are primarily designed for institutional trading, but dealers like SD Bullion, JM Bullion, and APMEX sell them to retail investors. They can be held in IRAs when stored at approved depositories.

Why do Good Delivery bars have the lowest premiums?

Good Delivery bars have the lowest premiums (1-3%) because: 1) Manufacturing costs are spread over 1000 oz, 2) They're the most liquid form of physical silver, 3) They trade directly into the wholesale market without conversion costs, and 4) Institutional buyers prefer them, creating constant demand.

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