Jewellery 22 Oct 2018
If hallmarking is a voluntary scheme in India, why is buying hallmarked gold jewellery important? This is because hallmark provides an assurance of purity of the gold item and confirms that it adheres to the quality standards set by the BIS (Bureau of Indian Standards).
If you’re still unsure why it’s vital to purchase only hallmarked gold jewellery, let’s look at what could happen if you don’t.
Many retailers may urge you to buy non-hallmarked gold jewellery by taking their word on the purity and quality. They may also offer a discount. However, when you’re making an important investment, you wouldn’t want to leave anything to chance.
If you go ahead with such a ‘bargain’, you can never be sure of the purity of the gold article. In fact, it’s more likely that you won’t get what you pay for. A hallmark provides the most critical information about your gold item, including the BIS gold standard mark, purity grade, mark of the assaying and hallmarking centre, and the mark of the jeweller or manufacturer.
Also, did you know that while manufacturing a jewellery item, little pieces of gold are soldered or glued together to form a larger one? These small pieces of gold are often alloyed with other metals, which decreases the purity of the final gold article sold to you. If you buy non-hallmarked gold, there’s no way to be sure of the purity of the final gold item you receive.
If you set out to sell a non-hallmarked gold jewellery item, it’s highly likely that you won’t get a fair price for it. This is because the karatage of non-hallmarked gold is not verifiable. And your claim of the karatage or even a jeweller’s self-certification wouldn’t suffice.
Also, if you wish to get the karatage of your gold jewellery checked before you sell it, you will have to take it to a store that has a spectrometer. They will use this instrument to check the purity of your gold jewellery – for a fee. But again, since you have no valid proof, you will have to take the jeweller’s word for it. So, it’s always better to insist on buying hallmarked jewellery so that you don’t face such issues while selling it.
A hallmark not only assures you of the authenticity of your purchase, it also ensures that you get a fair price for your gold while selling or recycling it later. While you have the option of purchasing non-hallmarked gold jewellery, it is wiser to look for a hallmark.
The People's Republic of China introduced a series of bullion gold coins in 1982 called Chinese Panda. The obverse side contains the design of the 'temple of heaven' and with Chinese characters on top saying "Zhonghua Renmin Gongheguo" meaning People's Republic of China and the design of the Panda displayed on the reverse side of the coin is changed every year. It earlier came in variants ranging from 1/20 ounces to 1 ounce, but since 2016 the metric weight system of grams was introduced.
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