F Hinds signs to Gold Standard as police make push

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Somerset and Avon police make rounds to persuade jewellers to sign up.

As F Hinds becomes the first multiple retail jeweller to sign up the Gold Standard, police in Somerset and Avon are pushing jewellers in the area to follow suit.

The Gold Standard is a voluntary code of ethics drawn up by the National Goldsmiths Association, the British Jewellers Association and the National Pawnbrokers Association designed to regulate the cash for gold industry.

Multiple retailer F Hinds has introduced the Gold Standard to all of its 112 high street jewellery stores, and claims that it is the first national gold buyer to do so.

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F Hinds director Andrew Hinds said: “Customers can be reassured that every one of our F Hinds stores across England and Wales already met the requirements of The Gold Standard even before it was introduced, which makes it harder for criminals to profit from their crime and easier for stolen pieces to be recovered and returned.

"We hope this will help to lead to the disappearance of the market in stolen jewellery. Please use a Gold Standard retailer when selling your gold to help prevent crime.”

At the same time police in Somerset and Avon are promoting the Gold Standard and officers are visiting jewellery retailers that offer cash for gold serviced to ask them to sign up to the code of conduct.

Somerset and Avon Police detective sergeant Stuart Toms, who works for the unit’s Priority Crime Team, said that police in the area have noted an increase in crimes involving stolen jewellery, which he believes is linked to the rising gold price.
Toms said: "The idea behind this scheme is to make it harder for burglars to sell on what they steal and work more closely with businesses to catch suspects and return stolen property to victims.

"Signing up to the scheme also acts as a reminder to businesses that they themselves are committing crime if they buy and sell stolen property – and we will prosecute them. Equally, they stand to lose money if we end up seizing goods we believe to be stolen as part of our investigations.”

Retailers that sign up to the Gold Standard are provided with signage to communicate to consumers that they are part of the scheme.

To find out more about the Gold Standard and to sign up click here.

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