5 things to check before buying gold coins this Dhanteras

financialexpress.com:

Dhanteras and Diwali are around the corner and many people in India often like to purchase gold not just an investment but also to celebrate these festivals. Buying gold on the Dhanteras day is believed to bring good luck. Therefore, buying gold jewellery or coins during this period can be an auspicious investment.

However, one must be careful while purchasing the yellow metal with regard to quality, price and purity. Taking these precautions before buying gold in India will not only ensure a sound and secure purchase but also aid in making a well-informed decision that aligns with your financial goals and needs.

Here are the five key things to consider before making a purchase:

Ensure the gold coin is hallmarked to guarantee its purity. In India, Bureau of Indian Standards (BIS) hallmarked gold is widely accepted. Look for the BIS logo and purity grade marked on the coin. Typically, 24 karat (99.9% purity) or 22 karat (91.6% purity) gold coins are preferred.

Adhil Shetty, CEO, Bankbazaar.com, says, “Check for the BIS hallmark on the gold item. BIS hallmark signifies the purity of the gold. Ensure the hallmark is present, confirming the authenticity and quality of the gold you intend to buy.”

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Buy from reputable sources such as established jewellers, banks, or trusted dealers to ensure the authenticity of the gold. Research and verify the credibility of the seller by checking customer reviews and asking for recommendations.

Compare prices and making charges from different sellers before making a purchase. Making charges vary among different sellers and impact the overall cost. Choose a seller offering a reasonable making charge and a competitive