Start with what you own.
Separate the metal, the legal claim and the service around it.
Four routes. Different rights.
| Route | What to examine | Practical trade-off |
|---|---|---|
| Bars and coins in your possession | Authenticity, purity, invoice, insurance | Direct access; responsibility for security and resale |
| Allocated gold in a vault | Legal title, bar records, custody agreement, audits | Professional custody; provider and access dependencies remain |
| Unallocated account | Creditor status, issuer exposure, conversion terms | A claim on a provider rather than identified metal |
| Gold-backed exchange-traded product | Prospectus, legal structure, costs, redemption rights | Market access; retail holders may have no physical redemption |
A price is a starting point.
A gold reference price usually refers to a particular unit, currency and market convention. A finished bar or coin can cost more because fabrication, distribution and dealer margins are involved. The sale price can differ again. Compare quotes at the same time, for the same product and settlement terms.
One troy ounce is approximately 31.1034768 grams. A product's gross weight is not always its fine-gold content: multiply weight by the stated purity fraction.
Purity and provenance
Fineness describes the proportion of gold in a product. Refiner credentials, product documentation and chain of custody serve different purposes. LBMA's Good Delivery framework concerns the wholesale bullion market; it is not an endorsement of every retail product or seller.
Original reference: LBMA Good Delivery →Before choosing a provider
01 — Read the contract: who owns the metal, and what happens in insolvency?
02 — Check independent audit scope and reconciliation frequency.
03 — Confirm insurance coverage, exclusions and who can claim.
04 — Compare purchase, custody, withdrawal, currency and sale fees.
05 — Understand sale settlement, delivery restrictions and identity checks.
06 — Check local tax rules and regulated status where relevant.
Risk belongs in the picture
Gold prices can fall. Currency movements can change your result. Physical products can be lost or stolen, and third-party custody introduces contractual and operational risk. Gold itself does not pay interest or dividends. This guide does not recommend an allocation.
Put costs into perspective
Use your own assumptions to compare a reference metal value with the cost of buying, holding and selling.
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