LPPM Good Delivery Bar Weighing

For Publication on the 1st September 2014

The principles applied to the weighing of LPPM Good Delivery bars are that the weight stamped on a bar, by the producer/refiner is a minimum weight, in the same way the purity stamp of 99.95% is a minimum purity. The producer/refiner should expect to be credited with the stamped weight and any subsequent physical movement of these bars out of the clearing system should also reflect the stamped weight on the relevant bar lists.

The LPPM however accept their can be minor differences in weighing equipment and for practical and clarity purposes have set out the rules below.

  • Weight Stamping - The weight of the bars can be stamped either in metric (kilogram or gram) or troy ounces as per the current good delivery rules. These should however have the following number of decimal places:-
    • Troy Ounces : 3 places
    • Kilogram : 4 places
    • Gram : 1 place 
  • Rounding - Weight lists will be in troy ounces or converted from kg with the following conversion from metric formula:
    • A standard conversion rate from kilograms to troy ounces of 32.1507465 to produce a 5 decimal figure.
    • Rounding: if upon conversion to troy ounces the last two digits were 75 or greater the third decimal place should be rounded up and if the last 2 digits were 74 or less the third decimal place in the troy ounce weight should remain unchanged. 

For Bars dated 2014 or before

  • Weight Tolerance - when the troy ounces is established, either by conversion or stamped on the bar, subsequent weighing tolerances shall be:
    • Minus: 0.006 troy ounces
    • Plus: no upward limit - the management of this upward limit is to be at the vault manager’s discretion.
    • For Bars dated 2015 and onwards 
  • Weight Tolerance - when the troy ounces is established, either by conversion or stamped on the bar, subsequent weighing tolerances shall be:
    • Minus: Zero (bar must weigh a minimum of the stamped weight)
    • Plus: no upward limit - the management of this upward limit is to be at the vault manager’s discretion.

LPPM Website Disclaimer

LPPM does not guarantee that the Fixing Prices, Fixing Data or other materials displayed or otherwise available on this website are accurate, complete or up to date. LPPM obtains all the information displayed or available on this website from a third party, The London Platinum and Palladium Fixing Company Limited. All warranties and representations (other than fraudulent misrepresentation) are excluded to the maximum extent permitted by law in particular no express or implied warranty is given as to the figure at which the Fixing Prices stand at any particular time on any particular day or otherwise. If you rely on the information available on this website you do so at your own risk and LPPM shall have no liability for any losses suffered by you as a result of relying this information.

We have placed cookies on your computer to help make this website better. We use a Google Analytics script which sets cookies. More details can be found in our privacy policy.

Click here to agree to terms and view site   >>>