The Keys To The Gold Vaults At The New York Fed ‘Coin Bars’, ‘Melts’ And The Bundesbank

http://www.zerohedge.com/news/2015-02-10/keys-gold-vaults-new-york-fed-%E2%80%98coin-bars%E2%80%99-%E2%80%98melts%E2%80%99-and-bundesbank

‘Coin bars’ is a bullion industry term referring to bars that were made by melting gold coins in a process that did not refine the gold nor remove the other metals or metal alloys that were in the coins. The molten metal was just recast directly into bar form. Because it’s a concept critical to the FRBNY stored gold, the concept of US Assay Office / Mint gold bar ‘Melts’ is also highlighted below. Melts are batches of gold bars, usually between 18 and 22 bars, that when produced, were stamped with a melt number and a fineness, but were weight-listed as one unit. The US Assay Office produced both 0.995 fine gold bars and coin bars as Melts. The gold bars in a Melt are usually stored together unless that melt has been ‘broken’.