INTRODUCTIONTHE GOVERNING LEGAL STANDARDS
The Jewelers Vigilance Committee is commit-ted to provide a guidance tool or the trade on thesubject o silver and gold precious metal articles. The laws and regulations that govern the manu-acture and sale o industry products made withsilver and gold are well established. Some o theseregulations and laws go back to the beginning othe 20th century. The intention o this brochure isto ensure a greater understanding o these lawsso that they can be properly applied to the tradepractice in this area and, thereore, provide clear,accurate consumer inormation.New combinations and alloys o gold, silver and gold and other gold plated products are be-ing developed or use in jewelry in this increasinglytechnological world. The application o the law tothese products is essential to ensure consumer condence in these products. This publicationcan be used as a guide to achieve a greater un-derstanding o the legal requirements or identiy-ing, marking and marketing these products.
The inormation and guidance containedin this pulication is not meant to e anorm o legal advice.
The legal standards that apply to the manuac-ture, sale and advertising o jewelry made o silver or gold are contained in three government regula-tions. First,
The National Gold and Silver Stamp-ing Act
is a ederal law that was enacted in 1905. Violations o this law carry sanctions that includeoreiture, civil and criminal monetary penalties,and even jail! This statue addresses standardsor neness o gold and silver, rules pertaining tothe making and marking o gold and silver objectsand provides or law suits that can be brought bycompetitors and jewelry trade associations or vio-lations o its provisions.
The Federal Trade Commission Guides forthe Jewelry, Precious Metal and Pewter Indus-tries
was published in its current orm in 1996. These guidelines establish the standards the FTC will apply to claims and representations at all levelso the trade about “industry products” (jewelry andother objects) regarding any material aspect o theproduct. This includes labeling, promotional ma-terial, and all other orms o marketing, includingadvertising. Violations o these standards can leadto a FTC civil enorcement action that can imposeboth nes and injunctive relie. FTC guidancestandards are ully subject to the National Goldand Silver Stamping Act.
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