Back
Home » Business
  •  
    Filmi Bollywood
    • Rangoli Chandel’s Latest Twitter Rant Is Targeted Towards A Famous Movie Critic
    • Katrina Kaif Gives Us A Sneak Peek Into Her Gym Workout Plan On Social Media
    • Netizens Slam Aishwarya Rai Bachchan For Putting Make-up On Aaradhya Bachchan On Her Birthday!
    • Critics & Moviegoers Thrash John Abraham's Pagalpanti; Call It A 'Nonsense' Film
    • Pagalpanti Movie Review: Anees Bazmee's Film Isn't Crazy Enough To Make You Laugh Aloud!
    • Sanya Malhotra Begins Shooting For Her Next Film 'Pagglait', Shares First Day Pic From Set
    • Taapsee Pannu Calls Vicky Kaushal & Jacqueline Fernandez Worst Co-stars: Here’s Why!
    • Ranu Mondal's Make-up Artist Reacts To Her Viral Pic; Calls It 'Fake'
    • Happy Birthday Kartik Aaryan - Actor Receives Sweet Surprise From His Parents!
    • IFFI 2019: Indian Panorama Of The 50th International Film Festival Of India Inaugurated
    • Tapsee Pannu Calls Vicky Kaushal & Jacqueline Fernandez Worst Co-stars: Here’s Why!
    • Most Trolled Movies Of 2019: Student Of The Year 2 Tops The List
    • Vicky Kaushal Turns Superhero For The Immortal Ashwatthama!
    • Neha Dhupia Reacts To Being Body-shamed Post Pregnancy!
    • Anil Kapoor Reveals Sonam Kapoor Has Started Cooking Post Marriage; Talks About Anand Ahuja
    • Pati, Patni Aur Woh: Karisma Kapoor's 'Biwi No 1' Was A Reference Point For Bhumi Pednekar
    • Brahmastra: Nagarjuna To Play This Role In Ranbir Kapoor-Alia Bhatt Starrer; Read Details
    • IFFI 2019: Amitabh Bachchan Retrospective Opens at Kala Academy
    • Priyanka Chopra Sends Love To Nick Jonas Over Grammy Nomination - Details Inside!
    • Neha Dhupia And Angad Bedi's Photos With Daughter Mehr On Her First Birthday Are Winning Hearts!
6 Pointers To Note When Buying Gold Coin
Good Returns | 24th Oct, 2019 02:36 PM

Gold price has declined phenomenally from its record highs of over Rs. 40,000 per 10 gm touched in early September and as the festivities commence with the Navratri, individuals may be lured to buy their all time favourite gold. In Delhi, 24 K gold is priced at Rs. 38, 450 per 10 gm. And if you have zeroed in on gold coins for your purchase this time, here are some pointers you need to definitely keep in mind.

As it is investors prefer buying gold coins in comparison to gold jewellery primarily for may be 3 reasons:

1. These gold coins can be put to use at a future date i.e. for a child's marriage etc.

2. Gold coins are also available in small denominations i.e. for as less as 0.5 gms.

3. Also when buying gold coin, buyer can get the purest form of gold with nominal making charges.

So, now as we know why we can consider buying gold coin. Here are some factors you ought to consider:

1. Hallmarking: Bureau of Indian Standards (BIS), a government of India set-up stamps its mark on gold and silver coins and jewellery thus certifying the level of purity of the product. And 4 of the components including BIS logo, purity defined in carat and fineness, jewellers' identification mark and number and logo of assaying and hallmarking centre are also being hallmarked on gold.

In October this year, the Commerce ministry approved a proposal for making BIS hallmarking compulsory for gold jewellery. But the same will take formal shape after it is informed to the World Trade Organisation.

2. Purity: Purity of gold coin can be assessed through 2 measures i.e. Karat and the other is fineness. Karat as we know is the more known criteria and in it 24K is the purest with 24/24 parts of gold. In the case of 22K gold, of the 24 parts, 2 part are comprised by other metals including silver or zinc and the rest is gold. Usually gold jewellery comes in 22K as the other metals provide some strength and durability to it.

Fineness is another measure and as per WGC even the purest form of gold may include some impurities. And it is defined as weight of precious metal i.e. gold in proportion to the total weight that is inclusive of alloy and impurities. It is expressed in units of parts per 1,000.

3. Ensure that gold coin is sold to you in tamper-proof packaging: This is to safeguard oneself against any form of damage, fraud or counterfeiting. Also, as the packaging is kind of an authentication of gold purity, one should not break open the packaging if one intends to sell the coin at a future date as else the customer will not be able to recoup the best price for it.

4. Making charges: At a nominal making charge of between 8-16%, a potential buyer may get gold coin in the purest form and in minimum weight possible. Gold coins are available in a minimum weight size of 0.5 gm to 50 gms.

5. Re-sale aspect: Notably if you have bought a gold coin from a bank then as per the RBI directive these banks will not buy them back. And also if you resell them to another jeweler, you will fetch a lower value in comparison because the jeweler or trade will pay you only the market rate of gold and not the making or other charges associated with it.

6. Varied options to buy gold coin from : Gold coins are available across financial institutions i.e. from banks, NBFC firms such as Muthoot Finance, MMTC, SHCIL and online retailers including the likes of Amazon.in

GoodReturns.in

   
 
Health and Life
  • Joint Pain In Children: Causes, Symptoms, Diagnosis And How To Treat It
  • 5 Impressive Health Benefits Of Burdock Root
  • 6 Health Benefits Of Marula Oil, Uses And Side Effects
    • World Television Day 2019: How To Prevent Eye Strain While Watching TV
    • 10 Surprising Health Benefits Of Chasteberry You Didn’t Know
    • 7 Science-backed Benefits Of Maca Root, Its Nutrition, Healthy Recipes And Side Effects
      • Copaiba Oil: Health Benefits, Risks And How To Use
      • Bleeding Haemorrhoids (Piles): Symptoms, Prevention And Ways To Manage It
      • Neurosexism: Is It True That Men And Women Have Different Brains?
        • 6 Surprising Health Benefits Of Black Sapote
        • Erythritol: Health Benefits And Side Effects
        • Dysphagia (Swallowing Difficulty): Types, Symptoms, Causes, Risk Factors, Diagnosis And Treatment
          • Is Dosa Good For A Weight-loss Diet?
          • 10 Best Quadriceps Exercises To Strengthen Your Thighs
          • 6 Impressive Health Benefits Of Buckwheat Tea
            • Heat Exhaustion: Types, Symptoms, Causes, Risk Factors, Diagnosis, Treatment And Prevention
            • Diabetes Insipidus In Children: Causes, Types, Symptoms, Diagnosis And Treatment
            • World Diabetes Day 2019: Best And Worst Drinks For Diabetes