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The total number of items hallmarked by the four UK Assay Offices dropped 17.6% in 2023.
In total 8,031,340 pieces of jewellery were hallmarked in 2023 compared with 9,745,285 in 2022, a decline of 1,713,945.
Gold hallmarking dropped 12.2% from 4,012,145 pieces hallmarked down to 3,521,940.
However, gold 999 saw a 25.1% increase in hallmarking numbers but gold 375 saw a 16.5% decrease compared with last year.
The total number of silver pieces hallmarked also saw a decline, a drop of 22.3% from 5,342,245 down to 4,148,853.
Silver 999 and silver 958 saw 23.9% and 30.6% increase, respectively, whereas silver 925 and silver 800 saw 22.8% and 66.2% decrease, respectively.
Platinum also saw a decline in hallmarking of 7.9% from 386,917 down to 356,465 while palladium saw an increase of 2.6% from 3,978 to 4,082.
The four UK Assay Offices are based in Birmingham, Sheffield, London and Edinburgh.
