Tune in to BBC Essex Radio on
Monday 28th October 2013 Tuesday 29th October at 7:40am where Ray Clark will be talking about the purchasing and sale of stolen asian jewellery during his breakfast show. Goldealers Ltd are proud to have been invited to talk about the cash for gold industry and what jewellers can do to avoid purchasing stolen jewellery, with a view to promoting an initiative known as The Gold Standard.
As responsible gold buyers, Goldealers Ltd are a member of a scheme known as the Gold Standard. This scheme is a voluntary code of conduct which cash for gold firms can sign up to. It is a joint initiative by the following bodies:
- Association of Chief Police Officers
- Trading Standards Institute
- National Measurement Office
- National Association of Goldsmiths
- National Pawnbrokers Association
- British Jewellers Association
The Gold Standard is Voluntary!
You may be shocked to hear that many of the protocols set by the Gold Standard are voluntary and simply good practice. The Cash for Gold industry is not regulated.
Practices like taking photocopies of identification or providing an itemised receipt, or even signing a disclaimer stating that the seller is the owner of the goods are not a legal requirement.
We believe that the Gold Standard initiative should be enforced as part of the law.
Beyond the Gold Standard
In addition to the protocols in place by the Gold Standard, Goldealers Ltd have taken a step further, in that we are a cash-free business. All payments made to customers are via the Faster Payments Service. This means that funds will be in our customers account, usually immediately, but guaranteed within 24 hours. As such, there is a clear audit trail for any money paid to our customers for precious metals & jewellery.
Sell to Gold Standard Registered Retailers
If you are looking to sell your jewellery, Goldealers Ltd would recommend that you only ever sell to Gold Standard Registered Retailers. Even if the best practices of the Gold Standard are not legal requirements, you can do your part by only selling to responsible gold buyers.
A list of Gold Standard Registered Retailers can be found on the British Jewellers Association Website. British Jewellers Association – Gold Standard Registered Retailers.