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JVC Publishes New Silver and Gold Guide

Jun 17, 2010 2:34 PM   By Jeff Miller
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RAPAPORT... The Jewelers Vigilance Committee (JVC) published a “Quick Reference Guide” for manufacturers and sellers of jewelry made from combinations of gold and silver.  The new publication supplements JVC’s “Essential Guide to the U.S. Trade in Advertising Gold and Silver Jewelry” (The Essential Guide).  Both guides were underwritten by the Richline Group.

The new Quick Reference Guide includes examples of advertising, proper stamping, exemptions and a glossary defining and identifying products that comply with this standard.  The high price of gold has been the renaissance factor behind the industry's creation of new technologies that produce combinations and alloys of gold, silver and gold and other gold-plated products. Adhering to the required standards ensures a fair marketplace and increases consumer confidence, the JVC contends. 

Readers will find JVC's interpretation of governing standards in the Quick Reference Guide and The Essential Guide regarding:
•The National Gold and Silver Stamping Act;
•The Federal Trade Commission (FTC) Guides for Jewelry, Precious Metal and Pewter; and
•Voluntary Product Standard (VPS) PS 68-76, which represents  the marking requirements for articles made from a combination of silver and gold and provides the industry with a basis for common understanding of this product's characteristics. 

Mark Hanna, the chief marketing officer (CMO) for the Richline Group, said,  The Richline Group strives to support the important and timely initiatives of the JVC. We are proud that our funding assists the JVC in their pursuit of legal and ethical clarity in the marking and advertising of precious metals and alternatives. We congratulate them on this latest installment.”

Cecilia L. Gardner, JVC’s president, chief executive officer (CEO) and general counsel, said, “Manufacturers that produce jewelry products using new technologies and the retailers that sell them must mark, label and present the products according to the laws that govern our industry.  JVC developed the Quick Reference Guide in response to the many questions we receive from jewelers, specifically on how to mark and market new combinations of sterling silver in various combinations with karat gold. The rising price of gold has caused many manufacturers to create new technologies to produce fine jewelry that is predominately sterling silver, but looks and wears like gold." 

LH

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Tags: Jeff Miller, Jewelers Vigilance Committee, Jewelers Vigilance Committee (JVC), Jewelry, JVC
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