delete FOREIGN ASSAY OFFICE MARKS
The Hallmarking (International Convention) Order 2002 implements the 1972 Vienna Convention on Control and Marking of Articles of Precious Metals. It designates recognized hallmarking marks (including specific fineness standards for gold, silver, platinum, and palladium), establishes the Common Control Mark, defines sponsor's marks, and modifies how UK assay offices apply hallmarks under the Hallmarking Act 1973 for Convention purposes.
This Order perpetuates a coercive monopoly regime for precious metals hallmarking that creates unnecessary costs for jewellers, silversmiths, and precious metals traders. While consumer protection in high-value precious metals transactions has merit, mandatory assay office verification and prescribed fineness standards (e.g., 375, 585 for gold; 800 for silver) restrict market flexibility and add costs that are passed to consumers. The international convention framework, rather than enhancing free trade, actually constrains Britain's ability to set its own standards and compete as a free-trading centre. The repeal of the 1976 Order and re-enactment with only minor modifications suggests this was a housekeeping exercise rather than genuine regulatory reform. A market-based system of voluntary certification and private assay services would better serve both consumers and competition.