Scotgold – A Scottish Adventure

Scotgold have recently made the first pour of Scottish Gold from the Cononish Gold Mine in Tyndrum, Scotland. 12 gold rounds with a fineness of 999.9 have been created, ten of which will be sold to the public at auction.Scotgold Coins

The Edinburgh Assay Office have designed a chain of custody that will assure the provenance of the first Scottish gold poured on site at the mine. The first batch poured was tested for purity by the Edinburgh Assay Office on the 25th of October, in preparation for batch refining. The Assay Office has meticulously recorded each batch of poured gold maintains a rigorous chain of custody to assure the provenance of the finished precious metal product. Going forward, the Assay Office aims to guarantee that any gold product stamped with the Scottish Gold ‘Stag’s Head’ mark is made with authentic Scottish gold mined from Cononish mine by Scotgold Resources Ltd.

 

 

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Edinburgh Assay Office wins Innovation Award for Hallmarking and Fulfilment

 

UKJA Awards Winner
Scott Walter, Assay Master & CEO of the Edinburgh Assay Office, at the RJUK award ceremony.

 

 

The Edinburgh Assay Office is delighted to have been awarded the Innovation Award for their Hallmarking and Fulfilment service at the UK Jewellery Awards in 2016.

The service was hailed by the judging body as ‘game changing’ and ‘a reaction to the boom in global e-commerce.’ One judge said:

 

reducing the expense of stock holding warehouses can only be a good thing for online-only brands

while another commented that

This is an innovation that is truly relevant and forward-thinking for the good of the trade as a whole.

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Edinburgh Assay Office appoints ‘Master Marker’

 

The Edinburgh Assay Office has recently appointed one of their longest serving members of staff, Charles Munro, to the newly created position of Master Marker.

The position of Master Marker represents the very highest standard in hand marking. The role preserves the traditional skills and processes involved in hand marking that remain virtually unchanged since the castle hallmark was first applied in Edinburgh in 1457.

The Assay Office and The Incorporation of Goldsmiths are committed to supporting craftspeople and whilst the Assay Office continues to develop new technologies in order to provide cutting edge hallmarking services to meet the needs of a rapidly evolving jewellery industry, it remains dedicated to providing a personal and traditional service for craftspeople.

Charles Munro is the Assay Office’s most experienced member of the hallmarking team and his appointment to this position recognises his commitment, skills and enthusiasm for the craft. He began his career with the Assay Office in 1985 and has since applied the hallmark to some of the most prestigious silver commissions in recent history including, The Scottish Parliament’s silver mace, The Honours of Scotland sculpture, The Millennium Collection and the Silver of the Stars collection.

 

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Assay Assured Survey Findings Reinforces The Need for a Jewellery Specific Trust Mark

AA logo & text

 

 

Edinburgh Assay Office published findings today showing that over 90% of shoppers believe that knowing that their online jewellery purchase is genuine is ‘very important. While 70% of consumers will look for a trust scheme on the site before committing to a purchase.

The results of the survey, commissioned in partnership with QP Jewellers, demonstrates how important provenance is to the internet consumer.

In 2014, UK online retail sales rose to £37 billion. While more and more people shop online, today’s survey shows that trust remains one of the biggest barriers to trade with 80% saying they will only consider buying from retailers they are familiar with.

The problem for retailers is that in this digital age, counterfeiters are able to replicate a brand’s website, including photography, in exact detail. So much so that it may take an expert eye in distinguishing it from the legitimate entity.

Online counterfeiting has a real and very negative impact on the jewellery retail industry incurring both financial and reputational loss to the company. When a purchase is made via the internet the customer won’t get to touch the product until it arrives and items are sold mainly on the basis of photos which, sadly, are simple for the counterfeiters to copy.

To combat this, Edinburgh Assay office launched Assay Assured, the world’s first jewellery specific consumer online assurance scheme, in 2012.

 

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Assay Assured Survey Findings Reinforces The Need for a Jewellery Specific Trust Mark

 

We surveyed over 400 online jewellery consumers to ask about their online shopping habits. The results demonstrated to us the need within the industry for a jewellery specific trust mark, and confirmed that trust was still a large barrier for consumers purchasing jewellery online.

The full results of the survey can be seen below.

 

When purchasing jewellery online, how likely would you be to buy from a retailer you were familiar with?

 

Chart 1

 

 

 

 

 

 

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The Bigger Picture about E-Commerce

Ten years ago most jewellery retailers were only selling UK hallmarked product to UK consumers through traditional bricks and mortar retail outlets. With the exception of large multiples, most jewellery retailers were only sourcing UK hallmarked product from UK agents, wholesalers or buying groups.

A decade on and things have changed. E-commerce has opened up a European, and in some cases, an international market for UK retailers. E-commerce has also created a UK market for overseas retailers. More UK independents are now buying product directly from overseas manufacturers and importing it themselves. The growth of international jewellery brands that transcend traditional geographic retail boundaries have led to an evolution in jewellery logistics, distribution and hallmarking compliance.

When selling precious metal jewellery overseas, directly sourcing jewellery from overseas or selling jewellery across multiple countries, it is essential to understand your regulatory compliance obligations for each market. Failure to do so, in some cases, can result in product being seized at customs. Navigating the complexities of international hallmarking compliance can be daunting but it’s not as complicated as you may think.

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