Benefits of Jewellery Hallmarking
Assaying and Hallmarking occupies a great importance since antiquity. Assaying is basically a technique refers to the determination of the fineness/composition of the precious metal (Gold, Silver, Palladium and Platinum) in the alloy used in jewellry whereas, Hallmarking determines fineness or Physically marking a piece of jewellry according to specific laws to certify the purity of metal. It is designed to ensure the public trust besides promoting gems and jewellery exports of Pakistan. Likewise, some of its adamant benefits are listed below;
- Standardization of the products i.e. guarantee the purity
- Consumer Protection to get quality product against their best price
- Promotion of fair competition
- Assuranceof the gold content, hence the value of purchased.
- Hallmarking will ensure that mixing of other metals in gold will be within the permitted limits.
- Hallmarking protects the public against fraud and traders against unfair competition
- Useful in case of resale
- No inspection will be required for exporting articles to the signatories of Vienna Convention thus saves inspection cost
- Enhance international acceptance of local Jewellery
- Facilitates to export the items with full confidence & avoid over or under cartage
- Facilitates the cross border trade and so help in boosting export
- Help in making branding
It is pertinent to note that such advantages are only possible if hallmarking regime is implemented timely and squarely.