What is a Good Delivery bar?
A Good Delivery bar is the large wholesale gold bar traded in the London bullion market. LBMA rules say it must contain 350 to 430 fine troy ounces (about 400 oz or 12.4 kg) of gold at least 995.0 fine, made by an accredited refiner and stamped with a serial number, refiner's mark, fineness and date.
Every coin and small bar you can buy has a big brother in a London vault. The Good Delivery bar is the unit the professional gold market actually trades, and its rules are the reason "LBMA-accredited" means something on a 1 oz bar.
Explained simply: what makes a bar "Good Delivery"?
When banks and dealers trade gold in London, they settle in physical bars held in London vaults. The London Bullion Market Association (LBMA) says only bars meeting its Good Delivery standards are acceptable for that. Once a bar is accepted into an approved London vault, it can be traded freely between institutions without anyone re-testing it. The rules give everyone confidence that a bar is exactly what its stamps say.
What are the exact specifications?
| Requirement | LBMA rule |
|---|---|
| Gold content | Minimum 350, maximum 430 fine troy ounces (about 10.9 kg to 13.4 kg) |
| Minimum fineness | 995.0 parts per thousand |
| Gross weight | Recorded in troy ounces in multiples of 0.025, rounded down |
| Length (top) | 250 mm, plus or minus 40 mm |
| Width (top) | 70 mm, plus or minus 15 mm |
| Height | 35 mm, plus or minus 10 mm |
| Required marks | Serial number, refiner's stamp, fineness to four significant figures, and month and year of manufacture (bars made from January 2019) |
| How marks are applied | Pressure stamping or dot matrix punching; laser engraving is not permitted |
| Mark size | Fineness, date and serial number characters at least 12 mm high |
Source: LBMA Good Delivery Rules, technical specifications, checked 11 October 2026.
The rules also cover appearance. Bars should be free of cavities, cracks and blisters, have flat and reasonably smooth sides, and must not be hammered or burnished to hide defects. That matters because the bars are stacked in vaults and weighed precisely; trapped dirt would distort the recorded weight.
Who can make a Good Delivery bar?
Only refiners on LBMA's Good Delivery List. LBMA says a refiner must produce at least 10 tonnes of refined gold a year, hold at least £15 million in tangible net worth, follow LBMA's Responsible Gold Guidance on where its gold comes from, and pass tests on bar quality. Some brands you see on retail bars are accredited refiners too; The Perth Mint, for example, stamps its cast bars with its LBMA-registered mark. Our gold bars hub lists the main brands.
How much is a 400 oz gold bar worth?
A bar's value is its fine gold content multiplied by the spot price. Because each bar holds between 350 and 430 fine ounces, no two are worth exactly the same. The table uses live spot prices.
| Fine gold content | USD | GBP | CAD | AUD |
|---|---|---|---|---|
| 350 oz (minimum) | ... | ... | ... | ... |
| 400 oz (typical) | ... | ... | ... | ... |
| 430 oz (maximum) | ... | ... | ... | ... |
Spot-based melt values, not dealer prices.
Why does Good Delivery matter to ordinary buyers?
It is the cheapest form of gold per gram
Large bars spread the cost of making them over a lot of gold. That is why premiums on small bars and coins are much higher than the wholesale cost of gold in a 400 oz bar.
You can own a slice through a vault service
Some services let individuals buy part of a Good Delivery bar. BullionVault, for example, says its London vault "stores exclusively 400 troy oz (12.4kg) London Good Delivery bars" of at least 99.5% purity, and that a customer's balance is the pure gold content of those bars. This is a different product from coins at home, with its own fees and risks. Read allocated vs unallocated gold before using any vault scheme. UK readers should note that some vaulted schemes are regulated by the FCA and others are not.
Accreditation helps when you sell small bars
A 1 oz or 100 g bar is not a Good Delivery bar, but one made by a Good Delivery refiner is widely recognised. Dealers in all four countries buy them readily, which helps keep the gap between buying and selling prices narrow.
Leaving the vault has a cost
The value of a Good Delivery bar depends on its unbroken chain of custody. Take one home and, to sell it back into the market, it may need to be re-assayed. That is one reason almost all of these bars stay in professional vaults.
Where to go next
If you want to hold gold yourself, smaller bars and coins are more practical. Our comparisons show where to buy them: where to buy gold in the US, where to buy gold in the UK, where to buy gold in Canada and where to buy gold in Australia. For the full buying process, read how to buy gold. The bar you will most often meet in a shop is explained in cast vs minted gold bars, and more definitions are in Learn.
Frequently asked questions
How much does a Good Delivery gold bar weigh?
Under LBMA rules it must contain between 350 and 430 fine troy ounces of gold, roughly 10.9 kg to 13.4 kg. Most are close to 400 troy ounces, about 12.4 kg, which is why they are often called 400 oz bars. Each bar's exact weight is recorded on its bar list.
How much is a 400 oz gold bar worth?
Multiply its fine gold weight by the spot price. At the live price shown in the table on this page, a bar with exactly 400 fine ounces would be worth the figure in that row. Real bars vary between 350 and 430 fine ounces, so each one has a slightly different value.
Can I buy a Good Delivery bar?
In principle, yes, through a bullion bank or a large dealer, but the cost of a whole bar runs to well over a million US dollars, and moving it out of the vault system means it may need re-assaying before it can be traded again. Most individuals own a share through a vault service instead.
What purity is a Good Delivery bar?
At least 995.0 parts per thousand fine gold (99.5%). The actual fineness is stamped on each bar to four significant figures, such as 995.8 or 999.9, and the bar's value is based on its fine gold content, not its gross weight.
Who decides which refiners can make Good Delivery bars?
The London Bullion Market Association (LBMA). Refiners must meet tests on bar quality, have produced at least 10 tonnes of refined gold a year, hold at least £15 million in tangible net worth, and follow LBMA's Responsible Gold Guidance on sourcing.
Is a bar from a Good Delivery refiner the same as a Good Delivery bar?
No. A small 1 oz or 100 g bar made by an LBMA-accredited refiner is not itself a Good Delivery bar, which is a specific 350 to 430 oz wholesale bar. But accreditation is still a useful sign of quality and makes small bars easier to sell.
Sources
We checked these primary and official sources when writing and fact-checking this page.
- LBMA: Good Delivery Rules, technical specifications for gold bars
- LBMA: About Good Delivery (refiner criteria, London vaults)
- LBMA: A guide to the Loco London precious metals market, London Good Delivery
- BullionVault: The London vault (stores exclusively 400 oz London Good Delivery bars)
- BullionVault: Gold bars guide
- LBMA: Precious metal prices
Not financial advice. GoldVetted provides general information to help you compare options. It is not personal financial, tax or legal advice. Gold prices go down as well as up, and you may get back less than you pay. Check tax rules with the official source or a qualified adviser before you act.