FTC Sets New Rules for Platinum Jewelry

The Federal Trade Commission issued new rules this week in describing platinum jewelry, what it means and who can use it.  The rules set in place how to mark platinum jewelry and disclose to the consumer what they are actually buying without relying on a cross eyed salesman to tell you what the composition of the wedding ring you are about to buy is.  With Sterling Silver jewelry, jewelers like Sterling Canyon rely on the mark that is stamped on the jewelry piece.  Typically .925 is the common mark found on Sterling Silver jewelry.  On platinum, the stamp of "850 plat" is typical. This means that there is at least 85% pure platinum and the rest metal alloys in the piece of jewelry.  The new rules state that the composition must be stamped on the piece.  For instance, “60% platinum-35% cobalt-5% rhodium.”   This way, the cross eyed salesman can't lead you on the wrong trail.