Dhanteras is one of the most popular occasions in India for buying gold. From jewellery to coins, many families consider gold an important part of the celebration and a long-term investment.
However, fake gold, counterfeit hallmarks, and misleading pricing practices make it important to check what you're actually purchasing.
Before buying gold this Dhanteras, here are five things you should always verify.
1. Choose the Right Gold Karat
Gold purity is measured in karats (K), which indicates how much pure gold a piece contains.
- 24K Gold (999): 99.9% pure, commonly used for coins and bars.
- 22K Gold (916): 91.6% pure, popular for traditional jewellery.
- 18K Gold (750): 75% pure, commonly used for diamond and stone-set jewellery.
- 14K Gold (585): 58.5% pure, suitable for durable everyday designs.
Choose the karat based on what you're buying. Higher purity isn't always better for everyday jewellery.
2. Check the Gold Rate Yourself
Don't blindly accept the rate quoted by the jeweller. Check benchmark gold prices through IBJA before making a purchase.
For 22K gold, calculate your gold value using:
Gold Value = Net Gold Weight × Applicable 22K Rate
Then add making charges and applicable GST to calculate the final bill.
Always ask for a detailed invoice showing gold value, making charges, stone charges, and taxes. If the amount seems unusually high, ask the jeweller why.
3. Look for These Three Hallmark Marks
Every BIS-hallmarked gold jewellery piece should carry three important markings:
1. BIS Logo: The official hallmark symbol.
2. Purity Mark: Indicates gold purity, such as 22K916, 18K750, or 14K585.
3. HUID: A unique six-character alphanumeric identification code assigned to the jewellery.
Ask for a magnifying glass and inspect these markings on the jewellery itself before purchasing.
4. Don't Just Trust the Hallmark. Verify It.
Fake hallmarks can be created, so always verify the HUID using the official BIS Care app.
Follow these steps:
1. Download the BIS Care app.
2. Select 'Verify HUID'.
3. Enter the six-character code.
4. Check the registered jewellery details.
5. Ensure the purity and jewellery information match your purchase.
If the details don't match, ask the jeweller for clarification before paying.
5. Check What You're Actually Paying Gold Rates For
A 15-gram necklace doesn't necessarily contain 15 grams of gold. Its total weight may also include diamonds, stones, or other materials.
Always ask the jeweller for:
- Gross Weight: Total weight of the jewellery.
- Net Gold Weight: Actual weight of gold.
- Stone Weight: Weight of diamonds or other materials.
For example, if a necklace weighs 15 grams but contains 2 grams of stones, its gold weight may be just 13 grams.
You shouldn't be paying the gold rate for the weight of stones.
Final Thoughts
Buying gold during Dhanteras is a special tradition, but making an informed purchase is equally important.
Before paying, remember these five checks:
1. Choose the right gold purity.
2. Compare the gold rate yourself.
3. Check all three hallmark markings.
4. Verify the HUID through the BIS Care app.
5. Confirm the actual gold weight.
This Dhanteras, don't just buy gold. Make sure you're buying genuine gold at the right price.
