GOLD BUYING ALERT! Must know these things about Mandatory Hallmarking

Are you planning to buy gold? Then, here are a few recent developments that the government has made recently. It is now mandatory for all jewellers to hallmark gold jewellery. Hallmarking has been made mandatory to ensure that consumers are not cheated and get the purity as marked on the ornaments that they purchase.

Gold hallmarking is a purity certification of the precious metal and is voluntary at present. Mandatory hallmarking means that jewellers will now be able to sell only hallmark certified in three caratages 14-, 18- and 22-carat gold jewellery.

See Zee Business Live TV Streaming Below:

A hallmark has the following components, the BIS Mark, purity in carats and fineness, assaying/hallmarking centre’s identification mark/number and jeweller’s identification mark/number.

For 22-carat jewellery, 22K will be marked in addition to 916, for 18-carat jewellery, 18K will be marked in addition to 750, and for 14-carat jewellery, 14K will be marked in addition to 585. Bullion gold like bars and coins are excluded from mandatory hallmarking. 

Similarly, jewellery weighing less than two grams is also excluded. BIS is a government body, which certifies the purity of gold purchase by the customers. The process of certifying the purity of gold is called hallmarking. 

According to the BIS website, there are two principle objectives of the hallmarking scheme; first, to protect the public against adulteration
and second to obligate manufacturers to maintain legal standards of fineness/purity.

On the same side, there are four components that one should look for on the hallmarked gold jewellery to ensure the purity of gold. BIS Mark, Purity in Karat and fineness, Assaying and Hallmarking Centre's identification mark/number, and Jeweller's Identification mark/number.

Consider these things and question your seller, if he is not selling hallmark gold and silver jewellery!