We here at KJC, strive as precious metals dealers to offer the Australian public one of the largest selections of LBMA (London Bullion Market Association) certified product ranges – but why do we do this? Well, the simple answer is… security and peace of mind for you, our customer!
The LBMA was founded in 1987 upon direction by the Bank of England. Over one hundred and twenty-nine companies in 22 different counties are members, including central banks around the world that hold gold as a safe haven asset. The LBMA “Good Delivery List” encompasses companies that are widely recognized as producing the highest quality gold and silver products and adhere to the standards set by the LBMA. Some of these standards are; the company’s history, their current financial standing (net worth of 15 million pounds), the ability to produce bars that meet exact standards of quality and purity, and a minimum level of production (10 tonnes gold & 50 tonnes silver annually). These companies also comply with what is known as “Responsible Gold Guidance”. This policy was set to combat abuse of human rights, the funding of conflicts, and contains high standards for anti-money laundering and the financing of terrorism.
Its safe to say that when you buy an LBMA accredited bullion product, you can rest assured knowing that you are not un-willingly contributing your hard-earned finances to any of these unconscionable acts. Every 12 months companies accredited by the LBMA will go through an independent 3rd party audit. If a company fails this audit they will not only suffer damage to their reputation as they will immediately be removed from the list but they will may also suffer financial hardship as well.
When you buy investment grade bullion from a reputable dealer (such as KJC), you can be assured that we have chosen companies that are internationally recognised and have a good track record of being in business for many years, much like ourselves. These companies all comply with the standards set by the LBMA.
Check out some videos about the LBMA here: