What is the difference between a registered bar and undivided metal?

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Bars that you have registered are identified as being owned by you, ensuring that you are the sole owner. Otherwise the metal you own is an undivided ownership interest in the unregistered bars.

Note that all metal stored with Goldmoney is held in allocated form. This storage arrangement with the vault operator means that you are the direct owner of your metal and thereby avoid counter-party risk. 

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