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Ministry of Finance
of the Republic of Latvia
1 Smilsu st., Riga
LV-1919, Latvia

P.: +371-67095405
F.: +371-67095503
E-mail: pasts@fm.gov.lv
info@fm.gov.lv

Policy to protect the interests of the State and consumers in the field of using precious metals, precious stones and their articles 13/02/2017

Scope of use for precious metals, precious stones and their articles

Increasing standard of living rise interest of citizens to invest their free funds in capital, which later can gain a profit from the sale. One of the most common type of investment capital is precious metals, precious stones and their articles.

On the other hand, by increasing the purchase of precious metals, precious stones and their articles, more fraudsters starts to act, offering low quality products, i.e. which contains sophisticated metal alloys harmful for human health, or using illegal workforce for which appropriate tax payments are not made.

In order to prevent the Latvian market from the circulation of fake or low quality precious metals, precious stones and their articles, The State limited liability company “Assay Office of Latvia” (hereinafter – Assay Office of Latvia) has been established to perform the assigned public service functions.

Public service functions

Ministry of Finance (hereinafter – Ministry) develop a policy to protect the interests of the State and consumers in the field of using precious metals, precious stones and their articles. Ministry’s public service functions regarding supervision of fineness marks are delegated to Assay Office of Latvia. All the shares in Assay Office of Latvia owns the State and they are held by Ministry.

Strategic goals of Assay Office of Latvia are to provide:

  • A protection of the interests of the State and consumers in the field of trade of  precious metals, precious stones and their articles.
  • A fair and equal competition regarding trade of precious metals, precious stones and their articles.

To achieve above mentioned following supervision of fineness tasks for Assay Office of Latvia are delegated:

  • assaying of precious metals and their articles, analysis and expert-examination of the composition, and performance of control analysis;
  • marking with the mark of the Assay Office of Latvia and with the fineness mark, expert-examination of marks of assay authorities and fineness marks;
  • expert-examination and assessment of precious stones and other valuable stones to be used in articles of jewellery, issuance of quality attestations;
  • control of conformity with the requirements for marking and mandatory assaying of precious metals, precious stones and their articles at locations where economic activity involving precious metals, precious stones and their articles is performed;
  • registration of such locations where economic activity involving precious metals, precious stones and their articles is performed, and registration of their personal marks;
  • assessment of the composition of alloys of precious metal and precious stone articles in relation to conformity with the harmlessness requirements for goods.

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CONTACTS

Tālrunis uzziņām: 67095405

Lietvedības tālrunis: 67095578

Fakss: 67095503

E-pasts: info@fm.gov.lv

Adrese: Smilšu iela 1, Rīga, LV-1919, Latvija

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