Hallmarking drops 34.2% in April


Silver falls 57% as price rises 25% during the month.

Hallmarking figures have dropped again, according to data released by the UK’s four Assay Offices.

The total number of units hallmarked in the UK in April fell 34.2% on the figures for the same month last year. All overall precious metal categories showed a decline, including sterling silver.

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The total number of silver items hallmarked, which represented 57% of all items hallmarked, registered a year-on-year drop of 36% in April. The Assay Offices said that the decline in silver items was “hardly surprising given the on-going and significant increases in the price of silver”.

During April the price of silver rose 25% from £23.45 on April 1 to £29.26 on April 28 and the price has since risen again in the first few days of May.

During April 800 parts silver showed a rise in 300% on last year’s figures, suggesting that silversmiths are choosing to work with less pure forms of silver as the price continues to climb. Platinum also registered a rise in its least pure form, 850 parts platinum, which shot up 400% in the month while 999, 950 and 900 all fell.

Palladium and gold, however, showed increases at the top end of the purity scale with 22ct gold showing an incremental rise of 0.1% and 999 parts palladium shooting up 100%.

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

22ct gold 916 – up 0.1%
18ct gold 750 – down 24.3%
14ct gold 585 – down 57.3%
9ct gold 375 – down 38.5%

Britannia silver 958 – up 6.3%
Sterling silver 925 – down 36.3%
800 parts silver – up 300%

999 parts platinum – down 100%
950 parts platinum – down 8.3%
900 parts platinum – down 86.5%
850 parts platinum – up 400%

999 parts palladium – up 100%
950 parts palladium – down 22.5%
500 parts palladium – down 25%

Tags : Assay OfficeGoldhallmarkingJewelleryjewelrypalladiumplatinumprecious metalsSilver
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1 Comment

  1. I don’t know why people like silver: it’s REALLY soft scratching easily, it tarnishes black over time, when you remove the tarnish you get scratch marks and it wears away easily. I WAY prefer 10k or 10k white gold alone or with rhodium plating if I prefer it to look extremely white or even stainless steel if left with the only option of silver.

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