New Delhi: Akshaya Tritiya is always seen as a festival to buy physical gold because it is considered an auspicious occasion to buy the precious metal. Many Indian families will be looking forward to buying gold on this day. In a market flooded with options, buyers must be careful where they make their purchase from. If you too are planning to buy gold coins n Akshay Tritiya, here are 5 things that you must consider-
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Purity
The most important thing while buying gold is to check the purity of the gold. 24 karat (KT) is the purest form of gold which contains 24/24 parts of gold. Most jewelers have purity machines installed in their stores for purity check. You can get it tested before buying.
Hallmarking
While buying a gold coin, one should check if it is hallmarked. According to the BIS Act, a hallmarking agency evaluates each and every piece of gold jewelry submitted by the jeweler to authenticate if the metal content conforms to the national and international standards of purity. However, having a BIS mark does not mean that the jewelry is of 22 carats. There are several other caratages for which the BIS mark is provided.
Making charges
Buying gold coin is easier as compared to jewelry. It attracts lower making charges as compared to gold ornaments such as earrings, rings, etc.
Easy to sell
If you are planning to buy gold coins from a bank, then it is important to note that the bank will not buy back those coins as per the Reserve Bank of India (RBI) directive.
Last Word
Last but not least is to remember to ask for a valid cash memo or invoice with details of every charge levied for the jewelry you buy. Remember, in instances where a complaint has to be raised, a valid bill is necessary. Without that piece of document, authorities will not entertain the complaint.