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Leading UK fine Diamond Designer and online retailer DiamondGeezer.com is one of the first U.K jewellery manufacturing companies to rush to defend Hallmarking as a legal requirement. This legal requirement is once again under scrutiny and threat in the UK Government’s current drive to reduce regulation was launched on 7th April under the banner of’ The Red Tape challenge’.

Currently all items sold as gold, silver, platinum or palladium in the UK must be hallmarked, unless they are very lightweight, regardless of where they are made. Hallmarking is the independent, impartial testing of each and every piece of precious metal jewellery, which has to be carried out at one of the 4 assay offices in the U.K. DiamondGeezer.com believes it is imperative to the British consumer for the current and future UK Jewellery Industry to maintain hallmarking as a statutory independent service.

Hallmarking has survived for over 700 years because it genuinely protects the UK public from being cheated. The precious metals market is an asymmetric market where the industry knows a lot and the consumer very little, making them vulnerable to deception. Asymmetric markets must be regulated. 700 years of even handed consumer protection could be brought to an abrupt end, not because people don’t want it, but by default, because it is seen as ‘red tape’.

With 85% of jewellery sold in the UK now being imported from countries with no properly regulated hallmarking regime, and where counterfeiting is rife, UK consumers need a strong Hallmarking regime to protect them from dishonest activity more than ever .

DiamondGeezer.com urges everyone to visit http://www.redtapechallenge.cabinetoffice.gov.uk/hallmarking and express their views NOW.

BULLION PRICES ROCKET and will effect wedding ring prices


While generally lacking in confidence the financial markets maintain their interest and confidence in precious metals i.e bullion, driving up prices. This year we have already seen huge gains in the market prices of Platinum, Gold and perhaps the surprise star Palladium.


The DiamondGeezer.com metal buyers recommend couples, looking to secure their wedding rings, do so sooner rather than later to avoid further hikes in the speculative bullion market. Rememeber that the prices of bullion as a trading commodity are set twice a day in London & New York and new values, while not immediately passed on, are instantly reflected in the prices all jewellery manufacturers, including DiamondGeezer.com have to pay.

CLICK HERE Get FREE advice now, no obligation, just a simple informal chat with a human advisor that so many have found so helpful.

At last Palladium has now been officially acknowledged as the latest precious metal trend for the fine jewellery industry with the advent of a hallmark to guarantee its fineness. From today, 22nd July 2009, the four UK Assay Offices can mark Palladium articles with a legally recognised Hallmark, applied under an amendment to the Hallmarking Act 1973.

The interest in Palladium both within the jewellery trade and among consumers and especially DiamondGeezer.com clients has grown steadily in recent years, driven by an increased demand for quality jewellery in white precious metal. Palladium, part of the platinum group metals is tarnish resistant, white and durable. It also has low density, and is less expensive than Platinum, enabling DiamondGeezer.com designers to produce stunning pieces which are durable, beautiful and affordable.

ABOUT PALLADIUM
Palladium is a rare and lustrous silvery-white metal that was discovered in 1803 by William Hyde Wollaston, who named it palladium after the asteroid Pallas. Palladium has been used as a precious metal in jewellery since 1939, as an alternative to white gold. Its naturally white properties mean no need for rhodium plating. It is slightly whiter, lighter and about 12% harder than platinum. 950 Palladium is more durable than white gold. Wear testing has shown a 15% longer wear ratio. Like platinum, it will develop a milky patina over time which many like. Over time palladium will show the signs of everyday wear, but the surface is easily restored to the original lustre by cleaning and polishing, a service we are happy to provide.

Given its precious, noble metal status and our complete enthusiasm for the material DiamondGeezer.com are champions of palladium and support the current move to make it a legal requirement, as with platinum, gold and silver to have it hallmarked. This legislation is currently on the long route through the House of Commons and a Revised Impact Assessment is about to go back to the Ministry. If approved, the Ministry will consult with the rest of government and the trade (again).

Hallmarking has protected the consumer and ensured the U.K. jewellery industry operates exacting, high standards for over 700 years. No piece of fine jewellery can be sold as silver, platinum or gold in the UK unless it has been hallmarked (subject to certain exemptions). The palladium mark is made up of three compulsory symbols, the sponsors mark, identifying who submitted the item for hallmarking, the town mark, indicating which Assay Office tested and hallmarked the item and the fineness mark which denotes the purity of the metal alloy.

Palladium Showcase
Dragons’ Den diamond lapel pin

DiamondGeezer.com were delighted to welcome James Caan, famous for Dragon’s Den but also a very well respected business financier, to their offices in Bourton-on-the-Water on the 1st. July (2009). James was there to film the ‘where-are-they-now’ version of Dragons’ Den for series 7 of the hit BBC show which will be aired by the BBC in the Autumn. Clive Billing, DiamondGeezer.com founder and owner famously turned down the highest ever offer made by the Dragons, Peter, Theo and James, because ‘they wanted too much of his established family business’.

During the course of the day’s filming Clive and co-director, son Luke presented James with a stunning diamond set palladium Dragon lapel pin. Michael-John, DiamondGeezer.com’s resident cad-cam designer used the company’s cutting-edge computer-aided-design technogly to take Diamond Geezer Clive’s dragon concept to new heights . Then the inimitable traditional skill-set of DiamondGeezer.com’s jewellery craftsmen bought this stunning piece to life . James a self confessed lover of bling was delighted with his diamond-set Dragon pin and seemed sure that it would attract the envy of the other Dragons, which seemed to hit the spot.

LINKS – in order of appearance

DiamondGeezer.com
James Caan
Dragon’s Den
BBC
Palladium
Dragon lapel pin