DanArmak comments on Some thoughts on having children - Less Wrong Discussion
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Sperm banks are a market, so why wouldn't / aren't there banks providing more expensive sperm that they guarantee to be higher quality? It's something I really expected to exist; why doesn't it (if it doesn't)?
Because they can't. For most reasonable definitions of "higher quality" there is no current technology which will allow you to take a look at sperm (and, say, sequence the DNA) and provide assurances about characteristics of the future person.
Now, their marketing materials, of course, are a different issue :-/
I didn't mean to imply they could measure these traits in the sperm itself; they can measure them in the donor instead. All we need is to know that these variables are heritable: IQ, height, race / skin color, emotional and personality profile, health history, family health history, specific mutations which can be tested by sequencing the donor's DNA (not the sperm).
Partially heritable.
So, let's get a bit more specific. Can you give a description (in whatever terms you like) of a donor which who will provide "high-quality" sperm of the kind that you're looking for?
Certainly, few things are perfectly heritable. 0.5 heritability (correlation), as claimed for IQ, is quite impressive.
I can list the qualities I would look for. Keeping in mind that I'm not in fact looking for sperm donors, don't have or want children, and other people would certainly want (or prioritize) other things - but that should still allow a market.
There are many factors I would want, but I don't know how heritable they are, and would need to research. But the above list should already lead to a much better than chance outcome that would be worth a significant price paid to the sperm bank, if I trusted the bank to ensure these qualities (to a certain degree of certainty, etc.)
In practice, very little of this is checked for or marketed. They check for sexually-transmitted diseases, they check for non-negligibly likely genetic problems (e.g. Tay-Sachs in Ashkenazi-descended people, sickle-cell in West African-descended people). It's possible someone is marketing sperm along the lines you posit, but I'd consider it non-negligible that they're scamming.