forum.bulliondirect.com

Questions have come up about whether the “Heraeus” brand silver bars are “COMEX deliverable”, and therefore whether they are acceptable for us to deliver under our SIB999:0100:CMX and SIB999:0010:CMX product categories.

Firstly, it is important to understand that NONE of the products we sell are “COMEX” or “NYMEX” deliverable, nor do we advertise that they are. In fact, even if you take physical delivery of a “COMEX” 1000 oz. silver bar directly from the COMEX Exchange, these very bars are no longer COMEX deliverable (unless they have been reprocessed by an acceptable Refiner/Manufacturer). The requirements for delivery to COMEX are very rigid. It is my understanding that the bars are required to be manufactured by a COMEX acceptable Refiner/Manufacturer, delivered by the Refiner/Manufacturer, using a COMEX approved transport company, to a COMEX approved warehouse, and to acceptable purity specifications.

The purpose of offering a “CMX” category on our website is two-fold. The primary purpose is to provide a general category that satisfies the requirements of the IRS for IRA acceptable products:

Gold, Silver, Platinum, & Palladium bars must be fabricated by NYMEX or COMEX approved refiners or national government mint.

Minimum Fineness Required:
Gold .995
Silver .999
Platinum .9995
Palladium .9995

To clarify, the IRS requirement for IRAs is that allowable products be “COMEX/NYMEX approved brands”, not necessarily “COMEX/NYMEX deliverable”.


As a byproduct of the primary purpose, it also satisfies the general need for a premium brand category to satisfy the needs of self-directed investors in their pursuit to buy and sell standardized physical precious metal products.

In launching this category, we are very clear that the products are manufactured by “COMEX acceptable refiners/manufacturers”:

These 10 ounce bars are an impressive and inexpensive way to own Silver! They are manufactured by world renown refiners such as Engelhard, Johnson-Matthey, & Heraeus. Each bar is pure (.999 fine) silver and hallmarked (stamped) with the brand name along with the weight and purity.

In addition, we provide link(s) to NYMEX.com to see the list of other possible “COMEX acceptable brands”:

Although the above brands are the most likely ones used, a more complete listing of COMEX acceptable brands can be found at: http://www.NYMEX.com/sil_fut_brands.aspx
http://www.NYMEX.com/gol_fut_brands.aspx
http://www.NYMEX.com/pla_fut_brands.aspx
http://www.NYMEX.com/pal_fut_brands.aspx




In summary, the “CMX” category provides a certain threshold of quality and satisfies the IRS requirements for IRA precious metals holdings as well as provides the same threshold of quality to satisfy the needs of self-directed investors in their pursuit to buy and sell standardized, physical, precious metal products. The mere fact that Heraeus is not listed under “silver brands” on the COMEX list does not negate any of the above facts. If you would like more information about the Heraeus brand, you can visit their corporate website at www.heraeus.com (the About Us section has an overview and a link to its entire 150+year history).

If you feel that any of our content is misleading, or even confusing, please don’t hesitate to contact us. It would also be helpful if you would provide suggested changes along with your comments.