Seven Centuries of Consumer Protection
Since the 14th century, the Goldsmiths’ Company has been responsible for protecting consumers by ensuring the quality of precious metals.
Today we do this by checking the accuracy, quality and composition of the coins produced by the Royal Mint at the annual Trial of the Pyx, and through assaying and hallmarking precious metal articles at the London Assay Office – two of the oldest forms of consumer protection in use today.
The Trial of The Pyx –Ensuring the Quality of the Nation’s Coinage
CONSUMERS PROTECTED IN 2023
66.97 million UK residents
37.5 million overseas visitors to the UK
104.47 million consumers protected
Sources: gov.uk, British retail consortium
On 6 February 2024, the Royal Mint submitted 7,960 coins for testing at the Trial of the Pyx – the United Kingdom’s oldest judicial process. First conducted in 1248, it aims to protect consumers by upholding the quality of the nation’s coinage through rigorous inspection and testing.
The Trial fulfils a legal requirement imposed by an act of parliament, the Coinage Act (1971), to conduct an examination by jury to ascertain that the coins of the realm, produced by the Royal Mint, are of the correct weight, size and composition. As Master of the Royal Mint, the Chancellor of the Exchequer is held responsible for the outcome.
A sample of all new coins struck by the Royal Mint in 2023 – including a pair of 5kg 24ct gold “Petition Crown” Masterpieces – was rigorously checked for fineness and quality by an independent jury of Goldsmiths’ Company members at Goldsmiths’ Hall, before undergoing further scientific testing and analysis by the London Assay Office.
The King’s Remembrancer, Senior Master Cook of the Kings’ Bench Division of the High Court, pronounced a positive verdict on all 7,960 coins on 9 May 2024.
Through the Trial of the Pyx, every resident and visitor to the uk who uses or collects coins, benefits from the actions of the Goldsmiths’ Company.
19% of
THE ASSAY OFFICE IN NUMBERS 2023
1,663,165
312,257 hallmarked by laser
had a hallmark struck by punch
1,975,422 articles tested and marked Total
15,126
registered customers
575
metal punches produced at Goldsmiths’ Hall
47,781
HM King Charles III Coronation commemorative marks applied
Hallmarking
– Maintaining Trust in Precious Metals
Precious metals are rarely used in their purest form. Instead, they’re usually mixed with other metals to form an alloy of the desired strength and colour. It isn’t possible to know what an item of jewellery or silver is made from just by looking at it or touching it. To protect consumers, the Hallmarking Act (1973) requires that articles made of gold, silver, platinum or palladium over certain weights must be assayed (independently tested) and hallmarked, either by laser or using a metal punch, by one of the four uk assay offices.
A set of component marks applied to articles made of gold, silver, platinum or palladium, the hallmark takes its name from Goldsmiths’ Hall, the home of hallmarking since 1478.
The London Assay Office applies the full traditional uk hallmark, which is made up of five component marks, and tells you when and where an item was tested and marked, which metals it is made from and their purity or fineness, and who submitted it for hallmarking.
In 2023, the London Assay Office tested and hallmarked more than 1.9m articles.
Raising awareness
– Educating consumers and the trade
Understanding hallmarks helps consumers and businesses to make informed choices about precious items they might own or buy. In 2024 the Goldsmiths’ Company’s Hallmarking Authentication Committee hosted a symposium on fakes and forgeries attended by 75 dealers and collectors in partnership with the Company’s specialist library and archive.
Between 2023 and 2024 the Library and Archive helped over 360 individual curators, dealers and members of the public identify uk and overseas marks.
CHRIS MANN
£3 million in Support for People and Communities
For more than 700 years, the Goldsmiths’ Company has been supporting people and communities in need. In the late 19th century it founded the Goldsmiths’ Company Charity to deliver this commitment. This year, the charity awarded grants aimed at improving life chances across four priority areas:
1. Support for our craft and trade
2. Support for charitable activities in the City of London and at national institutions
3. Support for charities working in the criminal-justice sector
4. Support for charities working on literacy, numeracy and oracy projects that focus on primary age children
This year, the Charity awarded £3m in grants and pledged a further £2m in Landmark grants to the first four recipients of this major programme (learn more about Landmark Grants on page 54). This will directly support some 2,000 individuals and indirectly impact more than 24,000. It also began the threeyear process of realising its £10m commitment to the new London Museum, which is due to open in 2026.
THANKS TO THE GRANTS GIVEN OVER THE LAST YEAR, OUR CHARITY PARTNERS HAVE:
126,000 directly supported more than individuals
4,744 trained facilitators, including teachers and prison officers
58,000 indirectly reached just under people
The Goldsmiths’ Centre – Fostering capability at every link of the chain
Founded by the Goldsmiths’ Company in April 2012, the Goldsmiths’ Centre is an independent charity that exists to support the jewellery, silversmithing and allied industries to embrace learning as an essential lifelong practice.
At a cost of £17.5m, it represents the Goldsmiths’ Company’s largest-ever direct investment into the craft, trade and industry, and is an ongoing recipient of core funding from the Goldsmiths’ Company Charity.
Through the delivery of technical courses – including the Goldsmiths’ Company Apprenticeship Scheme – business support, affordable workspaces, funding opportunities, exhibitions, events and selling showcases, the Centre aims to close the industry’s skills gap so that creativity, craftsmanship and community can thrive.
FOR THE GOLDSMITHS’ CENTRE YEAR, WHICH RAN OCTOBER 2022–SEPTEMBER 2023:
10 people completed the Centre’s Foundation Programme and went on to Goldsmiths’ Company Apprenticeships or industry employment
218 took part in 30 technical skills short courses
This year, the Goldsmiths’ Centre received a grant of £2,059,290 from the Goldsmiths’ Company Charity.
118 startups were equipped with the skills to promote, sell and showcase their work
128 craftspeople beneftted from the Centre’s subsidised workshops and coworking spaces
210
young people from underrepresented communities entered creative careers through the Centre’s training programmes
THE GOLDSMITHS CENTRE/ KAY KONECNA
Criminal Justice
£462,604
The Lord Mayor’s Appeal
– Building a Better City for All
Support for trade and craft
£2,099,290
A career in the City of London can seem a daunting and perhaps unattainable prospect, particularly for those who cannot see people of their gender or socio-economic background fully represented. The Lord Mayor’s Appeal is working to change that by creating ‘A Better City for All’ – one that is inclusive, healthy, skilled and fair.
Alongside fundraising for its partner charities, the Appeal delivers initiatives created to support the learning, development and engagement of people and organisations working in the Square Mile.
Power of Inclusion London is one of the most diverse cities in the world, yet many people struggle to get a job, progress their careers or feel seen in the workplace. The Lord Mayor’s Appeal aims to increase opportunities for those from diverse socio-economic backgrounds by working with businesses to create a fairer and more inclusive City.
City and National Institutions
£161,679
Education
£163,640
This is Me The Lord Mayor’s Appeal is committed to changing attitudes around mental health and to striving to create healthier and more inclusive workplaces by reducing stigma, dispelling myths and improving employee wellbeing.
We Can Be According to the 2023 Prince’s Trust NatWest Youth Index, more than a third of young women feel that a lack of self-confidence is one of the biggest barriers to achieving their career aspirations. We Can Be aims to boost young women’s confidence in their abilities and encourage them to consider careers in the Square Mile by equipping them with skills and experience, as well as exposure to successful women working in the City today.
A Fair City City Giving Day forms a core part of the Appeal’s commitment to create a fair society, uniting businesses in the City and beyond by celebrating the positive impact they have for their charity partners and their local communities, through fundraising and volunteering.
From 2021–2024, the Goldsmiths’ Company Charity supported the Lord Mayor’s Appeal with a grant of £30,000.
THE LORD MAYOR’S APPEAL
The Prison Radio Association – Using Sound to Change Lives
Established in 2009 by the Prison Radio Association, National Prison Radio is the world’s first national radio station for people in prison. It broadcasts a mixture of award-winning speech and music programming 24 hours a day, seven days a week, to more than 80,000 prisoners. This is designed to help people serving custodial sentences to cope with life inside and after prison, and aims to reduce re-offending by providing the support, information and inspiration to build a brighter future beyond bars.
“Our programmes are designed to let prisoners know about the services and support that’s available, providing information that will help them turn away from crime,” says Tim Colman, director of development at the Prison Radio Association. “Supported by a team of professional radio producers, the shows are hosted by people who are in prison, who talk in a way that our audience can relate to, and are uniquely positioned to sow the seeds of ideas that can create long-lasting change.”
In 2022, the Prison Radio Association launched Life After Prison, a podcast series and online community for people affected by the criminal-justice system.
Hosted by ex-prisoners, for ex-prisoners, the podcast has helped listeners to learn more about the challenges of postprison life. It features sensitively answered questions and signposts services that can ensure a smooth transition back into the community for the approximately 78,000 people released from prison across the uk in the last two years.
“People are keen to understand why I went to prison,” says co-host Jules Rowan, “and this is a question I have struggled to answer in the past without feeling judged or needing to explain the whole story. Through Life After Prison, I’ve found a way to deal with it that is helpful for the community and myself.”
In 2023/2024, the Goldsmiths’ Company Charity supported the Prison Radio Association with a core funding grant of £30,000.
Blackpool Grand Theatre’s Tales Retold Project – Creating Opportunities for More Than 900 Children
Traditionally known for its sandy beaches, thrill rides and illuminations, the formerly grand Lancashire seaside resort of Blackpool was ranked the most deprived local authority in England in 2019. Today, it is home to the highest number of children and young people in care in the country.
It has long been established that economic deprivation and instability can affect children’s wellbeing, resulting in higher levels of anxiety, behavioural problems, and lower levels of achievement and engagement at school.
The Tales Retold schools project uses stories presented on Blackpool Grand’s stage as a gateway to help local primary school children find, explore and define resilience through the exploration of the characters’ challenges, successes and relationships. Through drama they practice resiliency skills and build confidence by retelling the stories they have explored to improve outcomes for the characters. They also gain new skills in storytelling and oracy. Since the programme’s launch in 2020, 900 children and 24 teachers from 12 local primary schools have taken part in this creative learning experience. The initiative won the 2023 uk Theatre Award for Excellence in Arts Education and the 2024 Northern Cultural Education Awards’ Hearts and Minds Award.
“The unique Story-Led Resilient Practice uses stories as a way for children to find and explore resilience through characters’ journeys,” says Celine Wyatt, head of creative development and learning at the Blackpool Grand. “This allows children to stop and pause the action, and to spot resilient behaviour such as planning, being brave, trying new things, being helpful and expressing feelings. By learning from characters’ resilience, participants build on their ability to solve problems and are more able to understand that there are a range of possibilities for change.”
She continued: “The funding from the Goldsmiths’ Company Charity has allowed us to commit to a long-term project where 900 children have experienced 36 high-quality drama workshops each – 432 drama workshops have been funded – as well as performing their stories twice to audiences on the Grand’s stage. This project helps the Grand serve its local community, enrich lives and improve the life chances of young people.”
The Goldsmiths’ Company Charity has supported Blackpool Grand’s Tales Retold project over multiple years. In 2023/2024 the Charity made a grant of £20,000.
BLACKPOOL GRAND THEATRE
The London Museum – Bringing Treasures of the Past to International Audiences
In 2017, the Goldsmiths’ Company Charity became a founding partner of the new London Museum, pledging a donation of £10m that would go towards the museum’s plans to create a spectacular new home for the history of London and its people in the beautiful and historic market buildings of Smithfield. This year, the Charity made the first of three payments honouring this pledge.
When the first phase of the new museum opens in 2026, visitors will be able to explore a gallery bearing the Goldsmiths’ name, showcasing the Cheapside Hoard, along with a selection of objects from the Company’s worldrenowned collection of historic and contemporary silver.
Speaking in 2021, former Prime Warden, Dame Lynne Brindley said: “Visitors will be able to see our unique Collection, marvel at the jewels of the Cheapside Hoard, and unlock fascinating stories about our craft and trade through the ages. Through this partnership, the Company and Charity will be able to do even more to nurture the skills and creativity of craftspeople for generations to come.”
In 2023–2024, the Goldsmiths’ Company Charity paid the first instalment of its 2017 £10m pledge to the new London Museum. The grant will be paid in three equal instalments of £3,333,333 across three fiscal years.
LONDON MUSEUM
Developing the Next Generation of Goldsmiths
“Isabel, our apprentice […] goes to day release training every Wednesday, which is great for her and convenient for us. It’s very valid that the apprentices are learning, perfecting the craft and knowledge.”
– James Neville, founder and master engraver at Sam James Ltd, London
2,520 HOURS
Hours of day-release training provided to support 18 apprentices and their 15 apprentices in 2022
Apprentices bring new talent into businesses, sustain vital specialist skills and boost business performance. The Goldsmiths’ Company has proudly supported apprenticeships since the 14th century and holds records of more than 31,400 apprentices in its Archive.
In 2012, the Goldsmiths’ Centre began delivering the Goldsmiths’ Company Apprenticeship Scheme. It connects Company members and the wider industry with talented young people, and provides apprentices with day-release training, development opportunities and industry networks.
In 2022, the scheme expanded beyond London and the Southeast for the first time in 700 years. Six apprentices were placed with businesses on the expansion scheme, which is focused on the Midlands.
Working with the team from the Goldsmiths’ Centre, colleagues in the Company’s Library and Archives, and Curatorial department give apprentices and others unique educational experiences – sharing objects, drawings, documents and books to build technical knowledge and inspire creativity.
In their final year, apprentices spend around 300 hours producing a masterpiece that shows the skills they have learnt. They present this to the Wardens of the Goldsmiths’ Company on completion of their apprenticeship and are awarded their Freedom as members of the Company.
More than
31,400
Goldsmiths’ Company Apprentices since 1327
“The expansion of the Goldsmiths’ Company Apprenticeship Scheme to the Midlands is a truly welcome step forward in the advancement of skills in the jewellery sector. Our apprentice is excited, keen and driven in his approach to the scheme, and for us supporting his development will ensure the future growth in diamond mounting at our company.”
– Gary Wroe, managing director, Hockley Mint
60 apprentices trained by The Goldsmiths’ Centre since 2012
4
Apprentices who completed their apprenticeships and presented their masterpieces in December 2023
10 A full cohort of apprentices were bound to employers in October 2023 apprentices
APPRENTICES CURRENTLY IN THE SCHEME
29 apprentices
23 London & Southeast
6 Expansion scheme
RENE GONZALEZ
Masterpieces
The following pieces were submitted by apprentices made free in 2023/2024
2: Scale model of 1991 Nissan Figaro, Sophie Chapman, 2023, apprenticed to Asprey London Ltd as a silversmith
1: Silver chased cup, Charlie Lewis, 2023, apprenticed to Stuart Ray Ltd with a specialism in chasing
“It has been a pleasure watching Charlie grow into a very accomplished chaser and young adult. Charlie has been a very willing and eager apprentice, which makes teaching him so much easier. I’ve showed a lot of my fellow masters Charlie’s masterpiece and all of them have had the same open-mouthed reaction followed by, ‘Wow! How old is he?’ This says a lot about his talent, which will continue to grow over the rest of his chasing career. I look forward to continuing to work with Charlie and guiding him as a journeyman to becoming a master in his own right.”
– Stuart Ray, director, Stuart Ray Ltd
“It has been a pleasure to see Sophie develop into a very skilled craftswoman during her apprenticeship and mentor her throughout her training. She has become a very confident, disciplined and creative silversmith, and should be very proud of what she has achieved so far. I am confident in saying that this is only the beginning for Sophie and that there will be many opportunities in the future for her to develop further into a master silversmith.”
– Paul Savage, production manager, Asprey London
3: Ish Wish dish, Celeste Heathcote, 2023, apprenticed to Sam James Ltd with a specialism in engraving
“It’s certainly been an exciting few years watching Celeste grow and develop into the hand engraver she is today. Along her journey she has consistently entered the GC&DC competition and has had great success, achieving Silver Awards each time. Celeste will tackle any job that comes into the workshop without fear and executes with great precision and flair. It’s never a dull day with Celeste around. She injects not only a professional approach to her work but also an enormous amount of fun – the workshop would not be the same without her! I have no doubt that she will continue to improve and learn and become a fantastic craftsperson and a credit to our craft.”
– Samantha Marsden, managing director, Sam James Ltd
4: The Hummingbird necklace, Amy Gibson, 2023, apprenticed to Alex Monroe with a specialism in diamond mounting
“Amy was our first apprentice and she’s set the standard high. She came to us mature for her age, with a good grounding in the craft and very keen to learn. It’s been such a pleasure to watch her grow in confidence and to develop her skillset. Her amazing masterpiece is a great testament to her abilities. She is now a vital part of the team, contributing with super technical ability, a great eye for design, and confidence to deal directly with customers. I look forward to seeing her career continue to flourish.”
– Alex Monroe, founder and creative director, Alex Monroe Ltd
ALL MASTERPIECES IMAGES BY RICHARD VALENCIA
Championing Makers and Independent Creative Businesses
For more than four decades, the Goldsmiths’ Company has championed independent small businesses run by craftspeople and promoted emerging talent in uk craft and design. We do this through our annual selling event, Goldsmiths’ Fair, through acquisitions and commissions for the Company Collection and loans from it, and through our participation in, and support for, industry events.
Goldsmiths’ Fair exhibitors see more than £2.5million in sales
Established in 1983, the Fair has launched, accelerated, and supported the careers and businesses of the uk’s leading contemporary jewellers and silversmiths, and their colleagues in the wider trade. It has created a unique opportunity for visitors to see, try and buy pieces made using precious metals, and learn about the skills, practices and inspirations behind them. What’s more, through a bursary scheme launched in the year 2000, it has helped more than 180 recent graduates to take their craft, creativity and career to the next level.
Over the last 10 years, the Goldsmiths’ Company has invested some £5m in staging Goldsmiths’ Fair, with the goal of connecting craftspeople with consumers, collectors, and institutions, and creating an environment where small businesses can thrive.
In 2023, the Fair welcomed more than 7,000 uk and international visitors to Goldsmiths’ Hall, with the 136 exhibiting craftspeople generating £2.5m in sales during the two-week event.
PAUL READ
136 Exhibitors
126
Established
10 New Business Bursary
>7000
Visitors
“A decade of regularly exhibiting at Goldsmiths’ Fair helped me build a great client base and introduced me to some amazing craftspeople. The Fair is an exciting place to be as a maker: you’re surrounded by a broad variety of silversmiths and jewellers, and can talk to thousands of potential clients, giving them the chance to provide valuable feedback, handle, buy and commission pieces. For some of my clients, the Fair is the only exhibition of contemporary silver they attend each year, making it both an exciting and important opportunity to share my passion for silver with others.”
– Ndidi Ekubia mbe , Silversmith
£2.5m
Totalsalesbyexhibitors
“Having completed an mfa in jewellery at Edinburgh College of Art in 2018, being selected for the 2019 Goldsmiths’ Fair Graduate Bursary Scheme was a pivotal moment. It encouraged me to continue pursing my career as a jeweller and silversmith, and helped me to seamlessly connect my creative practice and the commercial elements of running a small business in the craft sector. It’s a privilege to have exhibited at Goldsmiths’ Fair over the last five years, and I was thrilled when the Company bought a Curved Curves sterling silver brooch for the Collection in 2021. Through the opportunities and sales generated at Goldsmiths’ Fair, my practice has been promoted, acknowledged and developed – I’m excited to see where it will take me next.”
– Sheng Zhang, Jeweller and Silversmith
PAUL READ
ALUN CALLENDER
18 new pieces acquired for the Company Collection
The Goldsmiths’ Company Collection is dedicated to historic plate and contemporary British designer silver, studio jewellery, and art medals. It is a working collection, and pieces from it are displayed, loaned and worn, as well as being used to teach the next generation of makers. One of the main ways that the Company shows its support for contemporary makers is through commissions and acquisitions for its Collection. In 2023–2024, the Company acquired pieces at Goldsmiths’ Fair, at Collect, through leading galleries, at auction and direct from the craftspeople.
SPEND OF COMMISSIONS AND ACQUISITIONS IN 2023/2024 10 pieces of contemporary jewellery
medals
pieces of contemporary silver
Inspiring Creativity through our Library and Archive
Between 2023 and 2024 the Goldsmiths’ Company’s Library and Archive delivered eight creative inspirations workshops for designers and craftspeople. Developed in partnership with the Goldsmiths’ Centre, the workshops used the Company’s unique collection of books and archives to spark new ideas.
Seoul bowl, Max Warren, 2023, brass, copper, sterling silver. The Goldsmiths’ Company Collection.
RICHARD VALENCIA
Herringbone ring, Lynne MacLachlan, 2022, sterling silver, ceramic nano e-coating. The Goldsmiths’ Company Collection.
CLARISSA BRUCE
CHRIS MANN
Pieces sold to Collections
A special loan to the Science Museum
In November 2020, the Company commissioned leading silversmith, Junko Mori to create a piece that would be emblematic of the Covid-19 experience. She responded with Hope in Balance, a subtle sculpture constructed of three interlocking elements, constructed of cast elements in silver and bronze, which “shifts the viewer’s attention away from the viral enemy towards our strong immune system”.
Until the end of 2025, Hope in Balance is on loan to the Science Museum Group, as a part of Injecting Hope: The race for a Covid-19 Vaccine – a touring exhibition that explores the worldwide effort to develop vaccines at speed through an incredible variety of artworks, interactive installations and personal objects.
In summer 2024, the exhibition moved to its second host venue, the Science and Industry Museum in Manchester, having given more than 5 million people the chance to see this important piece of contemporary silver at the Science Museum in London.
Goldsmiths’ Fair celebrates 20 years of Collect
Presented by Crafts Council, Collect is the leading international fair for contemporary craft and design, representing the pinnacle of artistry and creativity. In March 2024, Collect celebrated its 20th anniversary by welcoming more than 12,000 visitors to Somerset House in London to see and buy pieces from more than 400 markers, presented by 40 specialist galleries.
To mark this special celebration, Goldsmiths’ Fair showcased work from Megan Brown, Sian Evans, Ella Fearon-Low, Melanie Georgacopulous, Castro Smith and Simone ten Hompel, alongside a display of 100 brooches and wallpieces made by past Fair exhibitors.
The team made sales of a Castro Smith ring to the V&A Museum and a pair of Simone ten Hompel vessels to the Goldsmiths’ Company Collection.
12,000
visitors to Collect 2024
Goldsmiths’ Fair makers represented at Collect
CLARISSA BRUCE
PAUL READ