Dhanteras 2021: Planning to buy gold coin? 5 things to keep in mind

Gold is one of the most auspicious things to buy according to Hindu culture. Our society believes in buying gold for every good occasion be it festivals, wedding etc. not only for its aesthetic value but also for its investment value.

As buying gold ornaments, coins, etc. is most preferred thing since generations and being people’s first choice in festivals especially Dhanteras it is important to have knowledge of the correct dimension for buying the yellow metal and thus searching and getting best of value for money.

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Here are some of the basic factors to look at before buying gold coin:

1. Purity: It is one of the most important things to take care of. You can judge the purity of gold coins by checking the hallmark on it. According to BIS website there are five factors one should have an eye on.

a. BIS hallmark: It shows it is licensed and verified by government.

b. Purity in carat and fitness: 24K of gold is considered as purest form of the metal and if it is other number like 22 it means it is mixed with 2 parts of zinc or silver. Fitness of 24K is 999.9 per thousand and is considered the purest.

C. Hallmarking centre’s number: The laboratory which is authorized to measure the purity also has to put their logo on the gold item and it can be easily checked by cross checking whether it is licensed or not.

d. Jeweller’s identification mark: BIS has put on its website list of jewellers name and address that are certified by them.

2. Weight: You need to check the weight of the coin on the weighing machine whether it matches with what the jeweller claims.

3. Making charge: Making charges are generally lower for coins as compared to jewelleries. The making charges varies from stores to stores as the small stores offer a low craftsmanship charge in comparison but the design finishing quality also varies from shop to shop or brand to brand.

4.Proper billing: It is extremely important to have a guarantee of the thing bought from the jeweller in form of a proper pay slip. You need to ensure that the bill has all the vital details such as carat, weight, price and making charges.

5. Shop to buy from: You should decide of an authentic jewellery shop before purchase. it is considered important as there are many shops in the market run by misconduct and do not offer what they claim of in terms of purity, cheat us in terms of standard weight and even do not give a accepted purchase receipt.