The New FTC Revisions and Jewelry: What You Need to Know
What are the changes?
The FTC has recently revised how retailers must disclose their products to consumers. One of the most important changes affects how we label synthetic diamonds.
What issue should you be concerned about?
There is one very important revision I want to discuss. The FTC has changed their guidelines around gold and silver. In the past, a product needed to be 10k or 41.67% gold by weight to be considered “gold.” And silver need to be 92.5% by weight to be considered “silver.” Now products can be labeled as “gold” and “silver” if they have any amount of either and if sellers also disclose the quantities of each.
Why is this a big deal?
Some retailers have already been shady about selling gold and silver plated products. I was in a pop-up shop recently where the salesperson said that their gold plated jewelry was made with “real gold.” This kind of language is misleading. Yes there is “real gold,” but only trace amounts on the surface. I predict that with the FTC changes that we will see people selling 1k (4.167%) gold and 5% silver. The purities will be labeled, but they will be written once and off to the side in a very small font.
What can you do to protect yourself?
Consider the following:
- Ask what the product is made of, in what concentrations, and if it is solid or plated.
- Familiarize yourself with these terms:
- Ask where is the product is made from start to finish. American and European made products should be more expensive in comparison. If they are not, then corners were cut or part of the product was made elsewhere.
