Every bar tracked by serial number. Segregated from operator assets. Insured by Lloyd's of London. Stored in Abu Dhabi's pre-customs airside vault.
Request Consultation About LCOREMost gold accounts offered by banks are unallocated. You own a claim on gold — not gold itself. When your bank is solvent, this distinction is invisible. When it is not, it determines whether you get your gold back.
| Allocated (LCORE) | Unallocated (Bank) | |
|---|---|---|
| What you own | Specific bars with serial numbers | A claim on the bank's gold pool |
| Title document | Warehouse Receipt (title) | Account statement (creditor claim) |
| Bankruptcy status | First-priority secured creditor | Unsecured creditor — last in queue |
| Rehypothecation risk | None — your bars are not lent | High — bank lends your "gold" |
| Insurance | Lloyd's $200M per event | Bank's general insurance |
| Legal jurisdiction | ADGM English Common Law | Bank's home jurisdiction |
Unallocated accounts cost banks almost nothing to operate. The gold you "own" can be lent to other counterparties via rehypothecation, generating revenue for the bank. Your account shows a gold balance. The bank holds fractional reserves.
For amounts below $100K this is an acceptable tradeoff. For institutional holdings of $5M or above, unallocated gold is a structural risk that most family offices, funds, and treasuries would not accept if they understood the legal distinction.
LCORE operates exclusively allocated storage. There is no unallocated option. Your bars exist — physically, in your name, in Abu Dhabi — for the duration of your storage.
Institutional allocated storage from $5M. Confidential consultation.