Birmingham Assay Office data shows that the number of items hallmarked in Britain in March fell 7.7% compared to the same period in 2013.
In February, the number of items hallmarked fell by 4.1% to 546 530.
The number of silver coins hallmarked has decreased by 4,943 from 262,804 pieces in March 2023 to 257.861.
Silver 999 fell the most, by 28.8%, from 2,844 pieces marked last year to 2,025 this.
Also, gold marking fell by 12.3%. From 296,203 to 258802, this is a decrease of 36 401.
Gold 999 has seen a significant drop of 48 % from 1,046 pieces hallmarked to only 544.
Platinum also had the steepest drop of all the metals. It went from 32,662 to 28,186. This is a 13.7% decrease.
Palladium has also seen a drop of 7.7%, from 591.874 pieces to 546.530.