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New York, NY—The Platinum Guild International-USA welcomes the Federal Trade Commission’s publication of final amendments to the Commission’s Jewelry Guides for the marketing of platinum jewelry. 

The amendments are expected to be published by the close of 2010, and will take place immediately upon publication. 

In its final amendments, the FTC requires marketers of platinum/base metal alloys (products consisting of 50-85 percent platinum along with other non-precious base metals) to clearly disclose the content of these products, and explicitly prohibits the use of abbreviations in such disclosures. 

The revised Jewelry Guides will significantly enhance consumer education and disclosure requirements for platinum/base metal alloys, and eliminate any existing perceived ambiguities. Under the new Jewelry Guides, the word “platinum,” or any abbreviation accompanied by a number or percentage indicating the parts per thousand of pure platinum contained in the product, may not be used to describe a platinum/base metal alloy unless the product contains a clear and conspicuous disclosure, immediately following the name or description of such product of: (i) the full composition of the product (by name and not abbreviation) and percentage of each metal; and (ii) that the product may not have the same attributes or properties as traditional platinum products (unless the marketer has competent and reliable scientific evidence that there is no material difference in each of the platinum characteristics material to consumers). 

“The FTC’s revisions to the Jewelry Guides are of significant benefit to consumers,” said Huw Daniel, president of PGI-USA.  “We have worked with the FTC for the last five years to ensure that consumers get the best information possible about what they are buying. The FTC’s decision will go a long way to ensure that consumers can make confident choices when purchasing platinum jewelry, while also benefitting members of the platinum jewelry industry on the manufacturing and retail sides.” 

PGI-USA also welcomes the FTC’s publication of “Going Platinum: What to Look for When Buying Platinum Jewelry,” alerting consumers about platinum purchases, and of a companion “Industry Guide” for retailers and others. 

For more information on each publication, click on the following links: the FTC Consumer Alert, the FTC Industry Alert, and the FTC Press Release.

For more information, please contact Jenny Luker at PGI. Email: jluker@pgiglobal.com.