> For the complete documentation index, see [llms.txt](https://docs.globalgold.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.globalgold.finance/global-gold-1/global-gold-tokens/standard-metal-units/why-this-is-not-legacy-unallocated-metal.md).

# Why This Is Not Legacy “Unallocated” Metal

Legacy unallocated metal systems rely on pooled liabilities, issuer discretion, and opaque accounting. Standard Metal Units are fundamentally different.

They feature:

* No pooled ownership
* No issuer balance sheet exposure
* No discretionary redemption
* No rehypothecation
* Continuous proof of reserves<br>

Every unit is anchored to standardized, deliverable metal under governed rules.