This Akshaya Tritiya, ensure a safe and authentic gold purchase by checking HUID, hallmark, purity, and insisting on a certified bill.
Akshaya Tritiya, one of India’s most auspicious festivals for purchasing gold and other precious items, will be celebrated on April 30 this year. Believed to bring prosperity and good fortune, the day is considered highly favorable for investing in gold. If you’re planning to buy gold jewellery, coins, or bars on this occasion, it is essential to know how to differentiate between genuine and fake gold to avoid being duped.
Here’s a comprehensive guide to ensure that you make a secure and authentic purchase:
Check the HUID number
Every hallmarked gold item carries a Hallmark Unique Identification (HUID) number – a six-digit alphanumeric code that confirms the gold’s authenticity. Buyers can verify this number using the BIS Care App provided by the Bureau of Indian Standards (BIS). Through this app, you can check the purity, registration details, and hallmarking centre of the gold item. Never buy gold jewellery that lacks this hallmark.
How to identify a genuine hallmark
Hallmarking certifies a product’s purity as per predefined standards. In India, BIS is the official body responsible for quality certification. However, some jewellers illegally stamp hallmark symbols without proper verification. To ensure authenticity, look for the BIS triangular mark, the logo of the hallmarking centre, purity in carat, year of manufacture, and the jeweller’s logo on the gold item.
Understand carat and purity
Gold is measured in carats (K), with the following common classifications:
- 24K – 99.9% pure
- 22K – 91.6% pure
- 18K or 14K—Lower purity levels
The price of gold is directly related to its purity. For instance, if the rate of 24K gold is ₹95,000 per 10 grams, then 22K gold should cost ₹87,083 (calculated as ₹95,000/24 × 22), excluding making charges. Some jewellers may mislead customers by selling 22K gold at 24K rates, causing significant financial loss.
Don’t forget the purity certificate
Always ask for a purity certificate when buying gold. This certificate should include the carat value of the gold. If your jewellery includes gemstones, request a separate certificate for the stones to validate their authenticity.
Insist on an official invoice
Avoid accepting handwritten or informal receipts. Always demand a proper bill that includes crucial details such as gold carat, purity, making charges, and the hallmark number. A valid bill not only helps in reselling but also protects your consumer rights.
