‘Gold Standard’ second-hand precious metals initiative gathers momentum

Set up by Surrey Police in association with the National Association of Goldsmiths (NAG), the British Jewellers’ Association (BJA), and the National Pawnbrokers Association (NPA), the scheme has started to spread nationwide as jewellers, police forces and local councils across the country take on the scheme in order to tackle the recent spate of high-value metal thefts.

It aims to encourage the responsible trading of second-hand jewellery by introducing a number of verification, evaluation and best practice protocols designed to provide both the retailer and customer with a sense of added security while acting as a deterrent to offenders attempting to re-enter stolen property into the market.

Having entered into the scheme, detective inspector Paul Doran from Hertfordshire Police’s crime reduction unit said: “When the price of gold is high, we can see a rise in burglaries where gold and jewellery may be targeted.

“The Gold Standard aims to reduce the opportunity to sell stolen precious metal jewellery, including Asian gold, in quick anonymous sales. If there’s no market for thieves to profit from, there’s no need for the crime.”

The increased interest in the Gold Standard comes at a time when the jewellery industry has been taking a reflexive look at its approach to security and how it can become a harder target for thieves.

NAG CEO and Jewellery Focus contributor Michael Hoare commented on Hertfordshire Police’s decision to implement the scheme, saying: “We’re really pleased to see this initiative is expanding beyond its original boundaries, and that other police forces are adopting the scheme.

“The NAG’s attack on crime is two-pronged: the first is the sharing of intelligence through SaferGems, which has already put professional thieves behind bars, and the second is the prevention of stolen goods re-entering the supply chain through the Gold Standard. Working in tandem these two measures should be pivotal in combating crime against the jewellery industry.

“It’s great to receive this news just a month to the day since the NAG’s first Retail Security Conference as it really shows that the industry is starting to work with police in taking steps to strengthen its defences.”