Buying exposure to gold and owning an identified bar are different arrangements. Before comparing prices, establish what the contract gives you and how that position can be verified.
Allocated and unallocated accounts
In the bullion market, an allocated account identifies specific bars held for a client. An unallocated account records an entitlement to a quantity of metal rather than particular bars. The legal and credit exposures differ; neither label alone establishes all of the protection in a contract.
Match the asset to the record
For identified bars, ask how serial numbers, weight and fineness are recorded and reconciled. A photograph is useful context, but it does not establish your title. The custody statement, agreement and procedures for resolving a discrepancy should tell a consistent story.
- What document identifies the owner or contractual claimant?
- Who keeps the record, and who can verify it independently?
- What happens when a bar is moved or substituted?
Read the full cost of holding
Compare storage, handling, insurance arrangements and withdrawal charges alongside the purchase spread. Ask which losses any stated insurance covers, who may claim and which exclusions apply. Do not assume that the words “insured storage” cover every loss or counterparty failure.
Plan the exit before the purchase
Selling the position and requesting physical delivery may follow different processes. Ask about minimum delivery quantities, notice, transport, identity checks and settlement timing. This is a reading guide; it does not describe a custody service offered by EXAM or promise that a particular arrangement is available.