European gold laws.

[SapunovDmitry]

Has anyone info on the european gold laws?
Who in European Union puts a karat mark on the gold?
Is it the same as in Russia(Only giant refineries can perform this operation)?
Or maybe Laws are different in different european countries?

 

[Buzz]

Hi Dimitry

Googled and found this, an extract from a site that came up:

UK Hallmarking Act

Current hallmarking requirements come under the UK Hallmarking Act 1973 and subsequent amendments. The Act is built around the principle of description, where it is an offence for any person to apply to an unhallmarked article a description indicating that it is wholly or partly made of gold, silver or platinum. There is an exemption by weight: compulsory hallmarks are not needed on gold under 1g, silver under 7.78g and platinum under 0.5g. Also, some descriptions are permissible, such as rolled gold and gold plate.

The four assay offices at London, Birmingham, Sheffield and Edinburgh operate under the Act.

Breaches of the Act carry stiff sentences (up to 10 years' imprisonment).

Buzz

 

[SapunovDmitry]

So there are offices where you bring your gold to,and then they mark it?

 

[Anonymous]

and tax you? I'm sure.

 

[istari9]

Don't let the USA know about this as they will Tax us as well!


Ray

 

[Buzz]

Hi,

Yes, I take my Gold powder to Sheffield as it's only 20 miles from where I live.

They "steal" a pinch to assay it and then melt the rest into a bar.
It's then stamped with their mark and also a number.
I get a certificate with the number on it to prove the purity.

It costs around £25 + value added tax (17.5%)
We get taxed on absolutely everything, as i'm sre my UK compatriots will agree :evil:

Buzz

 

[ALPHABiT]

Here in Italy (We are in EU, as you know) it works in this way:
Gold Marks can be put by "legalized" gold worker (like jewelers, assayers, refiners, etc...).
How to legalize ?
Simply asking to the police district a request.
If you had no problem with laws and you have a legal company, they give you possiblity to obtain "your number".
Then you can mark your gold with karat and your number marks.
Of course, then, you are responsable of the true of your marked gold once punched!
Other thing is to certificate the "good delivery gold".

 

[SapunovDmitry]

Cool. So if you are in Italy you only have to certify your quality of the produced stuff control process and all legalized refiners and jewelers can puttheir own mark?
And do they ask you in Britain where did you get this gold from(or you have to be registered as a gold refiner or a jeweler)? Kind of is it jewelery or recycled gold (if you are physical person not a company)?

 

[ALPHABiT]

You dont need to "certificate" your gold karat to law.
When u mark YOU certify. They can make some random control on your company to test quality of your "certification" sometimes.
And, for example, if you mark 750 and gold marked is under 735 they give you a big big money loss and maybe some prison too.
OF course you can obtain your "registered number" to mark only if you are a company (individual company too), not if you are a "private".
Yes, law can check in-going and out-going gold, like all materials of all companies for taxes or legal pourposes.
A particularity since 2007 here is that a company want to buy gold from a private, it must write down in a book the private-seller ID and what gold he's selling, and store that gold at least 15 days. And if the same guy sell to the company gold for a worth mayor then 5000€ in a month, company MUST send an advice to the law who can choose to control or not.

 

[masarh]

any of EU members of this forum, know of any lab requirements that are needed so your LABORATORY [your business] can be acredited? (stuff like: area square meters, ventilation, ISO standards etc.[CRITERIA FOR RECOGNITION OF ASSAY ,REFINING and HALLMARKING CENTRES]other than that of India, that i couldn find nothing interesting)

P.S. ALPHABiT, is there a law for the marking and for buying gold from private individuals, as we are having dificulties in my country since no banks sell gold bullions here?