Valuation of Precious Metals and Stones

Valuation of Precious Metals and Stones
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Valuation of Precious Metals and Stones
Official valuation and authorisation services for precious metal articles
The Office of the Consul for Goldsmiths and Silversmiths operates within the Standards and Metrology Institute of the Malta Competition and Consumer Affairs Authority. It provides official services related to precious metal articles, including valuation, hallmarking, assaying, market surveillance, and the authorisation and registration of manufacturers’ and sponsors’ marks.
The MCCAA was assigned responsibility for the Office of the Consul for Goldsmiths and Silversmiths on 1 July 2021, in line with Legal Notice 270 of 2021, which brought Act VII of 2021 into force.
Public Valuation Office
The Office of the Consul maintains a Public Valuation Office for the valuation of precious metal articles. This service is available to members of the public and other stakeholders who require an official valuation of gold, silver or other precious metal articles.
Valuations may be required for several purposes, including:
inheritance or estate matters
sale, transfer or division of ownership
professional or legal requirements
insurance-related purposes
personal record keeping
general confirmation of the value of precious metal articles
The Public Valuation Office opens on Monday, Tuesday, Wednesday and Friday
from 08:30 to 12:30.
What Can Be Valued?
The service may include the valuation of:
gold articles
jewelry
articles containing diamonds or other precious stones
silver articles
precious metal objects
articles containing stones or other materials which form part of the item
Where an article includes stones or other non-metal components, the valuation may take these into account as part of the overall assessment. In cases where stones or other materials cannot be removed without damaging the article, the valuation may be based on the approximate weight of the precious metal, together with the relevant market price applicable on the date of valuation.
How the Valuation Is Determined
The valuation may take into consideration, as applicable:
the type of precious metal
the weight of the article
the condition and nature of the article
any hallmarks, markings or identification marks present on the article.
the fineness or purity of the metal
the official gold or silver bullion price used for valuation purposes
the presence of precious stones or other materials
The Office of the Consul issues the official prices of gold and silver bullion used for valuation purposes. These prices are published through Government Notices.
Authorisation of Manufacturers and Sponsors
The Office of the Consul is also responsible for the assignment, authorisation and registration of personal identification responsibility marks for manufacturers and sponsors. This process is important because it links precious metal articles placed on the market to the person or entity responsible for them.
Manufacturers, importers or sponsors who wish to operate within the precious metals sector may apply for the assignment of a manufacturer’s or sponsor’s mark.
Assignment of a Manufacturer’s or Sponsor’s Mark
A manufacturer’s or sponsor’s mark is a personal identification responsibility mark assigned by the Consul. This mark identifies the manufacturer or sponsor responsible for the precious metal article.
Applicants must submit the relevant application to the Office of the Consul and provide the required information and supporting documentation. The application is assessed in line with the Goldsmiths and Silversmiths Act and the applicable subsidiary legislation.
The assignment of a manufacturer’s or sponsor’s mark does not automatically authorise the holder to hallmark articles. A separate authorisation is required before a manufacturer or sponsor may imprint a manufacturer’s or sponsor’s hallmark.
Authorisation to Imprint a Manufacturer’s or Sponsor’s Hallmark
A registered manufacturer or sponsor may apply for authorisation to imprint a manufacturer’s or sponsor’s hallmark on precious metal articles. This authorisation allows the approved person or entity to hallmark articles under the conditions established by law.
The authorisation process may include:
hallmarking services by appointment (on hold until further notice)
issuing analysis statements for unworked gold and silver
collection and testing of samples from the market
assaying of gold and silver items to determine fineness
direct market surveillance
information and guidance to goldsmiths, silversmiths, manufacturers, sponsors and traders
These services support consumer protection, fair trade and confidence in the precious metals market. The MCCAA website lists hallmarking, analysis statements, authorisation of manufacturers and sponsors, self-hallmarking authorisation, and market surveillance among the services offered by the Office.
Register of Marks and Hallmarks
The Consul maintains a register of authorised manufacturers’ and sponsors’ marks and hallmarks. This register supports traceability, accountability and market surveillance in the precious metals sector.
The register may include:
the form and description of the authorised mark
the date of authorisation
whether the person or entity is authorised to imprint a hallmark
details of the person or entity authorised to use the mark
the status of the authorisation
Before hallmarking tools are used, the first impression of the tool may be required to be deposited with the Consul, in accordance with the applicable legal requirements.
Related Services
In addition to valuation and authorisation services, the Office of the Consul for Goldsmiths and Silversmiths also provides other statutory services, including:
The authorisation process may include:
submission of a written application
declaration of responsibility under the Goldsmiths and Silversmiths Act
registration of the mark and hallmark details
approval by the Consul
confirmation that the applicant already holds an assigned manufacturer’s or sponsor’s mark
submission of the required documents and information
payment of the applicable fee, where required
The Office of the Consul issues the official prices of gold and silver bullion used for valuation purposes. These prices are published through Government Notices.
Fees
Applicable fees are established under Subsidiary Legislation 46.01
Before Visiting the Office
Before visiting the Public Valuation Office or applying for authorisation, applicants are encouraged to:
Valuations may be required for several purposes, including:
bring a valid identification document
bring any available documentation relating to the article
confirm whether an appointment is needed for the requested service
bring the articles to be valued, where applicable
complete the relevant application form, where required
check the applicable fees
Need any help?
Contact
Address
Office of the Consul for Goldsmiths and Silversmiths
Standards and Metrology Institute
Malta Competition and Consumer Affairs Authority
National Road, Blata l-Bajda, Malta
Public Valuation Office opening hours:
Monday, Tuesday, Wednesday and Friday: 08:30 – 12:30
Telephone:
(+356) 2395 2000
Email
hallmarking@mccaa.org.mt