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| September 16, 2022

Buying Guide for Gold Coin in Dhanteras 2022

Buying gold coins and jewellery on Dhanteras is an ancient tradition that is followed in most Indian homes religiously. In Hindu culture, the five-day celebration of Diwali starts with "Dhanteras," when people buy gold, which is the epitome of wealth. It is considered good luck to invest in gold items at such an auspicious time of the year. Furthermore, many people buy gold coins as a Dhanteras gift for their loved ones as a token of love and prosperity. If you are planning to buy gold coins this Dhanteras, then here are a few things you need to know:

Gold Hallmarking

When you invest in gold coins or jewellery, it is important to ensure that the purchased item is of the highest quality. Earlier, traditional jewellers did not have a standard marking system for measuring the purity and quality of gold. This resulted in a lot of fraud in the goldsmith market. As gold is a precious metal, gold jewellers used to trick customers into buying a lower quality gold item at a higher rate. However, things have changed for the better with the intervention of the Indian government. The government has introduced a standard marking system called BIS hallmark to protect people from such fraud.

So, when you buy gold coins on Dhanteras or any other auspicious occasion, buy only hallmark gold. Hallmarked gold specifies the amount of gold present in the item or coin. This makes sure that you are paying for the exact gold content that is specified on the item.

BIS-Certified Gold Coins

A gold coin is the perfect gift that is suitable for corporate as well as personal gifting. It is recommended to buy BIS-certified gold coins, which are stamped to certify their authenticity and purity. Usually, low-value metals such as zinBIS Logoc, copper, or silver are added to the gold to make it less fragile and give it stability. When you :purchase a BIS-certified gold coin, the stamp shows the level of purity of the coin. You can buy 1 gram, 2 gram, 5 gram, and 8 gram gold coins in 24 karat gold from Muthoot Gold Bullion Corporation, part of The Muthoot Group.

Identifying BIS-Certified Gold Coins

It is fairly easy to identify a BIS-Certified gold coin or jewellery. There are three components in BIS-hallmarked gold that establish the item’s authenticity.

  • BIS Logo:
    All the gold items have a standard logo that establishes the purity of the article. The gold article is thoroughly tested in an authorized assay center. It is a triangular-shaped mark that can be found on all the verified articles.

  • Purity:
    Carat and fineness are the two measures of the purity of gold. 24 carat gold is known to have the least amount of impurity, followed by 22 carat, 18 carat, and so on. Another parameter to check the gold purity is fineness. It is the weight of the pure gold that determines the total weight of the article.

  • Alphanumeric Code:
    It is a unique identification code that contains a combination of digits and letters. It is a "Hallmark Unique Identification Number" that is given to each article at the time of hallmarking, which is unique. It is a six-digit alphanumeric combination that is hand stamped in the assaying centre. Whether you buy gold online or offline, this code must be present on the purchased item. If you want to check the authenticity of the gold, then a HUID number can be used for the same.

Making Charges

Making charges are the charges collected by the gold manufacturer for the time and effort put into the manufacturing of gold. The charge varies from manufacturer to manufacturer and can cost anywhere from 8% to 16% per article. A making charge needs to be paid at the time of the purchase of the gold article. If you sell the gold coin or item in the future, this charge is borne by the next purchaser.

When you buy a gold coin, the making charges are less than any other gold item, as less effort is required in the manufacturing process of the coin. So, if you don’t want to pay a lot of making charges, then gold coins are one of the best things to buy on Dhanteras.

If you want to buy gold coins in Dhanteras 2022, the Muthoot Gold Bullion Corporation's (part of The Muthoot Group) authentic gold coins have an accurate level of purity. We have transparent rates for gold coins according to their weight and purity. You can go to Muthoot Gold Bullion's website to check the hallmarked gold coin. You can also opt for monthly instalments to purchase denominations of 999 purity of coins that are equivalent to 24 carats.

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