Hallmarking drops by 37.5% in dismal November

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Almost 700,000 fewer items assayed compared to November 2010.

Hallmarking figures released for the four UK Assay Offices for November show a further steep decline in figures, with a year-on-year drop of 37.5% representative of almost 700,000 fewer items.

The total number of gold items hallmarked was down by 42.1%, with the number of 18ct gold items Assayed falling 29.1% and 9ct gold limping behind with a decline of 43.8%. In terms of units hallmarked, 38,722 fewer 18ct gold items were hallmarked in November 2011 compared to November 2010.

Silver hallmarking fell by 34.2%, with silver of 925 purity also declining 34.2%, with 328,514 fewer items hallmarked last month. A total of 634,102 silver items were hallmarked and only Britannia silver of 999 purity showed an increase in Assay figures.

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Platinum 950 fell 15%, while platinum of 850 purity continues to show a steep decline, falling by a massive 91.3% last month compared to November 2010 when 23 items were hallmarked. Only two items of platinum 850 were Assayed last month, with the total number of platinum items hallmarked standing at 20,589.

Palladium continued the trend for declining figures, but also shows a large-scale increase in the hallmarking of palladium 500. Last month palladium 500 shot up by 4,060%, from 45 pieces assayed in October 2010 to 1,872 items marked last month. For November 2011 a total of 170 items of palladium 500 were hallmarked, a clear drop from last month but an increase on the seven items hallmarked in November 2010.

Birmingham Assay office said: “The total number of units hallmarked by the four UK Assay Offices was down again in November by 37.5%, representing nearly 700,000 less units than November 2010.

“The total number of gold items hallmarked was down by 42%, Silver was down by 34.2%, Platinum down 15.3% and Palladium down by 27.9%.”
 

The facts and figures: UK hallmarking in November 2011 vs November 2010

Gold
22ct gold 916 – down 24.8%
18ct gold 750 – down 29.1%
14ct gold 585 – down 79.2%
9ct gold 375 – down 43.8%

Silver
Britannia silver 958 – up 25.9%
Sterling silver 925 – down 34.2%
800 parts silver – down 57.4%

Platinum
999 parts platinum – down 86.6%
950 parts platinum – down 15%
900 parts platinum – down22.2%
850 parts platinum – down 91.3%

Palladium
999 parts palladium – No change
950 parts palladium – down 30%
500 parts palladium – up 2,328.2%
 

 

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