Jewelry Retailer reports that a palladium hallmark was introduced on July 22 in the UK, which means that palladium has finally been recognized as a precious metal. In recent years the white metal, which is lighter and less expensive than platinum, has become increasingly popular, but the lack of a hallmark has stymied the growth of its full market potential until now.

Jewelry Retailer quotes the Birmingham Assay Office CEO Michael Allchin said: “There are already some stunning palladium pieces on the market; the re-assurance of a UK hallmark will give the consumer added protection and confidence when purchasing palladium jewelry and we expect this to be a significant growth area for the jewelry industry.”

Palladium’s recognized fineness standards will be 500 parts per thousand, 950 parts per thousand and 999 parts per thousand. A voluntary traditional mark for hallmarked palladium jewelry will feature the Greek goddess of war Pallas Athene, after whom palladium was named.