Page 33 - Bullion World Volume 5 Issue 04 April 2025_Neat

Bullion World | Volume 5 | Issue 04 | April 2025

Hallmarking of Silver

Articles - Are We Ready

for the Mandatory

Regime ?

Mr James Jose

President, Hallmarking Federation of India

Bureau of Indian standards started the Hallmarking of
silver articles in 2005, but the momentum has been
very slow for a variety of reasons, the primary factor
being the comparatively low emphasis on the value for
the silver contained in an article, as compared to its
making /value addition charges. Eventhough daily per
gm silver prices are published by various agencies, it is
mostly applied to silver coins and bars, where the purity
of its silver content is a deciding factor.

However for silver jewellery and small artefacts, the
pricing of silver is often on lumpsum basis for a gram,
wherein the making charge also is factored into the daily
silver price. For eg in mature markets, when the silver
price is Rs 100/gm, the selling price of silver hallmarked
jewelllery may be Rs 120 per gm on gross weight basis.
And in some silver jewellery manufacturing locations,
the price of non hallmarked silver jewellery may be Rs
100 / gm on gross weight basis, but the silver purity may
vary from 50% to 80%, as indicated by various market
surveys. Over the years, the silver prices have been going up,
mostly in tandem with the rising gold prices and a
In nutshell, the purity or the hallmarking of silver gradual shift in consumer purchases and preferences
jewellery appears to take a back seat, when it comes to is witnessed, from light weight gold jewellery to silver
retail sales of silver jewellery. Eventhough the permitted jewellery or to gold plated silver jewellery, especially
fineness in silver hallmarking starts from 800 onwards, among the younger generation. This has also witnessed
many jewellery associations have been demanding the emergence of organized silver manufacturers
silver hallmarking to start from fineness 500 onwards, and factories using modern manufacturing methods,
but has been refused by the BIS, citing consumer and they have been supplying quality certified and
interests and protection hallmarked silver jewellery across India. Also we have

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