16 CFR Part 23, Guides for the Jewelry, Precious Metals, and Pewter Industries; Project No. G711001 #00010

Submission Number:
00010
Commenter:
Charbel Hayek
State:
Massachusetts
Initiative Name:
16 CFR Part 23, Guides for the Jewelry, Precious Metals, and Pewter Industries; Project No. G711001
Hi My comment is in reference to a new metal being sold and presented to consumers by national chains like sterling inc (Zales, Belden, Kay, Jared etc...) and recently even Walmart and Sears as well called Platinaire. I'm a bench jeweler and a store owner and my experience with precious metals goes back almost 21 years, the mixture of the two metals for the sake of marketing and selling more is unfair to consumers! Here's a couple of the concerns I'll address:1- the stamp Platinaire part (naire) if accidentally removed by sizing the item becomes stamped with Plat which can be mislead by any future jeweler either buying the ring for cash or even attempting to work on the ring! He will simply ruin it because he's anticipating to apply high heat. 2- a shady person or jeweler will remove that part (naire) and market or pass the item as platinum I've come across 3 ring sizing a so far and the customers that brought them came to us with the strong belief that they have platinum! We look at the items thoroughly when taken in and we give them the bad news that they don't have platinum! One got very upset and went to return the item, the other 2 decided to get it sized! Luckily we have a Lazer machine so we did size them. Bottom line I think this metal should be with the same 5 concerns that were in the news today. Thank you for looking into the manner! Sincerely Charbel Hayek