# What Is a Global Gold Coin?

A Global Gold Coin is a specific, physical bullion coin held in an approved vault and represented on-chain by a Conditional Claim NFT.

Each coin is:

* Fully allocated
* Individually identifiable by type, year, mint, and specifications
* Held free and clear (non-hypothecated, unencumbered)
* Governed by Global Gold Council–approved eligibility standards

Unlike pooled or account-based representations, Global Gold Coins correspond on a 1:1 basis to identifiable physical coins, with ownership and settlement governed through conditional claim processes.