Rises in Jewellery Theft and Avoiding the Gold Scrap Trap

Gold and Silver prices have reached record levels (Gold has risen by over 14% and Silver more than doubled in the last year), but unfortunately this has gone hand-in-hand with a rise in theft. and we felt it is important our customers are aware of this.

Statistics from the British Crime Survey 2010/11 show a rise in theft, ranging from railway line cables, to lead from church roofs. Police are also noticing an increase in robberies of gold and silver jewellery, and have highlighted several instances of women being targeted by thieves who are going stealing these items directly from ladies necks!

We want you to love wearing your jewellery, but you may want to have an extra think about covering it up when you are out and about.

It has been suggested that the ease with which thieves can offload your precious things for instant cash makes this type of crime all the more tempting. Currently, legislation surrounding the buying and selling of precious metals is limited to hallmarking, how to cost the items and consumer rights. There are no enforced regulations requiring gold retailers to register their business with the local authority, or to record details of the items being bought, or those selling them. As a result, thieves can steal jewellery and sell it to a retailer without having to produce much, if any, identification. Items are melted down for a profit. Within a matter of days, the items have disappeared without a trace.

So, if you are thinking about cashing in your gold, please be aware of unscrupulous traders. As well as being quite happy to exchange stolen goods, they are likely to give you way under the true value for your pieces.

A reputable retailer will ask for identification, keep a record of your items and be transparent about the amount they are charging for processing. Before you package your pieces up and take advantage of high metal prices think about whether you would prefer to keep the stones, especially ones you are sentimentally attached to. There is no point in hanging on to broken and outdated styles you will never wear but we can restyle your heirloom stones into fresh modern designs if you wish.

For more info on staying safe check out Metropolitan Police's personal safety tips here.