Switch to fast lane to keep Assay out in front

Today, the assay office is forging ties with the high-powered world of Formula One, as it fights back against a slump which means consumers have been spending less on jewellery. It’s also helping to create a new type of bandage which uses the healing qualities of seaweed.

There has been an assay office in Sheffield since 1773, when local silversmiths petitioned Parliament for the right to assay silver.

Over the last 230 years, the office has tested and assessed the precious metal content of millions of items of jewellery.

The assay office has broadened its range of activities in the face of tough economic conditions, according to Ashley Carson, the assay master and chief executive.

He said: “The next five years are going to be extremely challenging. In 2004, between the four assay offices, we hallmarked 35 million articles. Last year, we hallmarked 11 million. So it’s an unprecedented decline. We’ve just got to batten down the hatches, ride it out and continue to diversify into other areas to keep the assay office going, as it has done since 1773. We can’t sit back and expect the work to come to us.”

These have been challenging times for Britain’s assay offices. The combination of high precious metal prices and a fall in consumer spending has hit them hard.

In the quarter ended March 31 2012, the number of units needing hallmarking across the UK assay offices fell by 27.4 per cent, which is a drop of 764,475 units. Sterling silver bore the brunt, declining by 35.9 per cent. Although there has been a slight upturn in business since then, Mr Carson knows that the Sheffield office, which has around 60 staff, must diversify in order to survive.

Apart from testing the quality of jewellery and precious metal, the office also provides analytical services.

Mr Carson said: “Over the years, we’ve invested very heavily in new equipment, instrumentation and laser hall-marking as well.

“It’s important that we keep ahead of the game by investing in technology. The problem with precious metal jewellery is that it’s the first item to fall in a recession, and it’s the last item to come back out.

“We’re an expert in applying marks and analysis work. We carry out nickel testing, which is in line with European legislation on the control of nickel, with items that come into contact with the skin.”

Many people are allergic to nickel, which means they can suffer from painful skin conditions if the nickel content in jewellery is too high.”

Sheffield Analytical Services, which is a division of the assay office, was recently awarded a United Kingdom Accreditation Service (UKAS) certificate for the 30th year running, making it the longest established UKAS accredited assay laboratory in Britain.

The laboratory tests precious metals, and metals used in medical research. It also provides independent assays for bullion companies. The lab analyse minerals, healthcare products and offers a variety of analytical services for the environment. It runs a mercury screening service for dental staff and for those who work with mercury. “We ensure that the dental amalgams that contain mercury are kept down to low levels in the body,’’ said Mr Carson.

“We also work with some of the leading brands who make bandages using seaweed. It’s been proven that it increases the healing process and reduces scarring as well on bad wounds. We’re working with one of our customers who has got a fantastic order with McLaren, the Formula One team, for their new range of stainless steel jewellery.

“We’ve been using our laser machines in the office to apply the McLaren logos and do all the branding.”

Fortune, it seems, favours institutions that aren’t afraid to jump in the fast lane.