Hallmarks in jeopardy
By BASHIR KHANBHAI MEPTHE quality of gold, silver and platinum in jewellery shops across Suffolk and Essex could be under threat if the latest proposed EU Directive to harmonise the hallmarking of precious metals across Europe is introduced.
By BASHIR KHANBHAI MEP
THE quality of gold, silver and platinum in jewellery shops across Suffolk and Essex could be under threat if the latest proposed EU Directive to harmonise the hallmarking of precious metals across Europe is introduced.
Pure gold and silver are soft metals that wear away and lose their shape if made into jewellery without additives. Therefore, manufacturers of jewellery alloy gold and silver with copper or other cheaper metals in order to harden them. This necessary adulteration of precious metals with cheaper ones provides the dishonest with an opportunity for easy fraud. Because of these wide possibilities for deception, the need for standards for precious metals, reinforced by a system of compulsory hallmarking, has long since been recognised.
For more than 700 years, the British hallmarking system has proved to be of great value in guaranteeing quality of precious metals, like gold and silver, offering a control standard for the manufacturer and a reference pricing guide for the retailer.
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The British hallmark on an article authenticates the quality of the precious metal purchased, based on an independent assay or analysis. The manufacturer values the hallmark system as it protects him from unfair competition from dishonest competitors who will pass off substandard products at a fraction of the price. Clearly, the hallmark minimises the risk of prosecution for the retailer and deception for the buyer.
The UK has been a signatory to the International Convention on Hallmarking since 1972, allowing the UK Assay Offices to strike the Convention Hallmark recognised by member countries e.g. Austria, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden and Switzerland.
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Sadly, some European countries such as Italy, France, and Germany, do not have an independently verifiable system of hallmarking that allows their manufacturers to offer similar guarantees to their jewellery retailers and buyers. Italy is Europe's largest jewellery manufacturing nation and its lack of compulsory requirement for hallmarking has contributed to an EU-wide problem of under-carting and fraudulent products.
Despite this, the Italians, who currently hold the EU presidency, are insisting that the EU scraps independent assay and hallmarking on the grounds that a non-harmonised system in Europe distorts the market. This would introduce an inferior system of hallmarking, thereby forcing the UK to relax and even abandon its own system. This is unacceptable.
The Italian-driven EU Directive on Precious Metals, is a dangerous threat to consumers and the whole industry. It will allow manufacturers and importers in Europe to self-certify their jewellery and put it on the market anywhere in Europe, including the UK, without going through an independent third-party Assay Office. It will end the UK's compulsory independent hallmarking. It would be impossible to trace the origin and reliability of any set of marks and it would deprive the buyer of any independent guarantee of quality and so diminish his confidence in the value of all jewellery!
Bashir Khanbhai is a Conservative Euro MEP for the East of England.