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Platinum hallmarking was introduced in the UK in 1975 as a result of legislation brought about by the Hallmarking Act of 1973. Prior to this date, items containing platinum would often carry no markings or simply ‘Plat’ or ‘Platinum’ and would be of varying purity. All platinum items weighing more than 0.5 grams must now […]

Simple Platinum Hallmark Guide

Platinum hallmarking was introduced in the UK in 1975 as a result of legislation brought about by the Hallmarking Act of 1973. Prior to this date, items containing platinum would often carry no markings or simply ‘Plat’ or ‘Platinum’ and would be of varying purity.

A typical platinum hallmark

All platinum items weighing more than 0.5 grams must now carry a valid hallmark when sold in the UK. The photo on the right shows a typical hallmark. A platinum hallmark will consist of 3 compulsory and 3 optional stamps.

This post is a simple platinum hallmark guide, which we hope you find useful. If you have platinum to sell, please see our up-to-date scrap platinum prices. We also publish our scrap gold prices and our scrap silver prices.

The three compulsory platinum marks

Sponsor Mark

Also referred to as the makers mark, the first stamp in the photo indicates who submitted the item for hallmarking. Each sponsor (maker) has their own unique stamp.

Fineness Mark

The third stamp in our example photo is the fineness mark. This tells you the precious metal content, expressed in parts per thousand. There are four recognised standards of platinum:

  • 850 (85% pure)
  • 900 (90% pure)
  • 950 (95% pure)
  • 999 (99.9% pure)

When identifying an item as being platinum, it’s important to check the shape and contents of the fineness mark. If the shape is anything other than what is shown below, it isn’t platinum. As you can see, our ring is 950 platinum.

Platinum fineness

Assay Office Mark

The assay office mark tells you which assay office tested and hallmarked your item. There are now four assay offices in the UK:

Assay Offices

Assay offices

 Optional platinum hallmarks

The following 3 marks are all optional. Under hallmarking legislation, there is no compulsorary requirement to show these additional marks, however they are often shown.

Traditional Fineness Symbol

If your platinum item has a purity of 950 or 999, it may display the traditional orb mark. In our example photograph, you can see the second stamp is the traditional fineness symbol.

Platinum fineness orb symbol

Orb

Date Letter

Date letters are optional and therefore not always seen (as in our example photograph). The date letter tells us the year the item was hallmarked. As date letters were standardised across all assay offices from 1975, it’s quite easy to read. Below is a chart of all date letters from 1975 onwards.

Hallmark Date Letters

Standardised UK hallmark date letters from 1975 onwards

International Convention Mark

An International Convention Mark is sometimes shown within the hallmark. It is a mark recognised by all member countries of the International Hallmarking Convention.

Platinum convention mark

Convention mark

Testing platinum

Without a valid hallmark, most jewellers and small scale gold buyers will not be able to accurately test the purity of platinum jewellery. Due to its inherent inertness, traditional ‘acid’ testing can only help determine if an item isn’t platinum, however you can’t for example differentiate 900 and 999 platinum.

High-end and specialist precious metal dealers use XRF (X-ray fluorescence) testing to accurately identify the platinum content of jewellery. Inductively coupled plasma, optical emission spectrometry is used by assay offices during the hallmarking process.

March 14th, 2011 23 Comments Hallmarks, Platinum By Phil

Sell Platinum Thermocouple Wire

Platinum thermocouple wire

Used in laboratories and in scientific instruments, platinum thermocouple wire is often used for measuring temperatures in-excess of 2000°C.

Due to its high value, thermocouple wire should always be recycled. You can sell your platinum thermocouples to Gold-Traders and receive payment on the day we receive your package.

You can check our scrap platinum prices, which are always up-to-date. The rates we display are the prices we’re paying on that day. There are no hidden fees or deductions to be taken off the price.

If you’re unsure as to what type of thermocouple wire you have, we’ve compiled a short article to summarise the varieties of platinum thermocouples and the prices we pay.

To proceed, please fill out our claim form and follow our simple instructions in relation to postage and packing.

March 9th, 2011 2 Comments Platinum By Phil

OFT takes action against Cash for Gold companies

Back in January 2010, Gold-Traders reported that the Office of Fair Trading had launched an enquiry into the business practices of a number of online Cash for Gold companies.

Yesterday, the results for the enquiry were finally made public. As expected, the OFT have been highly critical over the way some of our competitors operate.

Three companies (CashMyGold, Cash4Gold and Postal Gold) have signed undertakings to improve their business practices. Two other companies who were also under investigation (CashYourGoldNow and Money4Gold) have since ceased trading.

The three companies named have undertaken to change a number of practices, including:

  • providing people with the option of receiving either a quotation for their gold which requires positive acceptance, or just a payment for their gold, and also displaying both options and the risks of each payment option clearly and prominently
  • providing consumers with clear information on other important features of the service, such as whether gemstones are purchased or returned and if the consumer sends a gemstone the risks of damage or loss
  • making clear, when referring to the ‘high price’ or ‘top price’ paid for gold, that the prices offered to consumers are based on the scrap or smelt value of gold.

Although the three companies named have all signed an undertaking to provide consumers with clear information on the prices offered for gold, we could only find this information on the CashMyGold web site. At the time of checking, they were offering £5.13 / gram for 9ct gold – that’s just 50% of market value, a very poor deal for the customer!

When calling Cash4Gold and Postal Gold, the company representatives refused to disclose what their current price per gram rates were.

Quite rightly the ‘Cash for Gold’ market has received some bad publicity recently. Unfortunately, there are many companies still trading who are out to make a fast buck and who give customers a very poor deal. Before selecting a company to sell your gold to, please make sure you can make and informed decision. You need to know what price per gram you’re being offered. You also need to know what will happen to the price offered if the gold market rates drop and you need to be aware of any hidden charges or fees you’ll be charged.

If you have any questions, or have gold to sell, give us a call. We have no hidden fees and our scrap gold prices are always available on this web site.

Link: OFT takes action against gold buying companies

February 15th, 2011 No Comments » Industry News By Phil

Silver Prices Per Gram

Demand for scrap silver is very high at present and our silver prices per gram reflect the strong market conditions.

We are currently paying the following rates for unwanted silver items:

We pay the same rates for hallmarked and non-hallmarked silver and we don’t charge testing or refining fees.

If you wish to sell your unwanted silver, our process is very simple.

  • Complete our claim form
  • Securely pack your silver items, remembering to print and sign a copy of your claim form
  • Send your package to us using Royal Mail Special Delivery.

We deal with all packages on the day of receipt. The quickest method of payment is for us to pay you direct into your bank account. All high-street banks are now part of the Faster Payments System, which simply means we can get the funds into your account within 1 hour.

See our main scrap silver prices page for a full breakdown of the prices we pay.

December 20th, 2010 No Comments » Miscellaneous, Silver By Phil

A testimonial for selling gold to Gold-Traders

In today’s instant Internet-enabled world, there’s something very special about receiving a hand written letter from a customer.

Julie Parker contacted us for advice, having sent her scrap gold to a TV advertising ‘cash for gold’ company. Having been offered far less for her gold than she expected, we advised her to request the return of her items from the company as she could achieve a much better deal elsewhere.

Once Julie received her gold back from the other company, she sent it to Gold Traders for valuation. It was tested, valued and payment issued all on the day of receipt.

Julie’s letter reads:

Dear Goldtraders,

Many thanks for your cheque in payment for my unwanted gold.

Having been offered less than 1/3 by ‘Postgold for Cash’ it was a pleasure to deal with you. Acting on the advice of someone from your company I asked them to send my gold back. They immediately increased the offer 3 fold. I am not prepared to deal with people who are willing to take advantage to this extent.

Your website is easy to use and the proces reflect honestly what is paid.

My cheque arrived within a few days.

For anyone wanting to sell gold I would certainly recommend your service.

Regards,
Julie Parker

Julie’s experience reflects the consistent advice we offer to anyone looking to sell their gold.

NEVER send your gold to a company who doesn’t publish the prices. You will almost certainly receive a far lower price that you would get elsewhere.

December 2nd, 2010 No Comments » Testimonials By Phil