While buying gold is considered highly auspicious during Dhanteras, a day ahead of Diwali, it's no secret that the yellow metal can sometimes be tarnished by dishonest practices. Some jewellers may use deceptive tactics to try and sell gold jewellery claiming it is pure 22 karat gold, when in reality, its purity might fall short. To shield oneself from such fraudulent practices, it's important to identify the genuine hallmarking signs.
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The good news is that the government is already taking proactive measures to curb the mis-selling of gold jewellery. The HUID (Hallmark Unique Identification) mandate for gold jewellery kicked in from April 1 this year. In March this year, Director General of the BIS, Pramod Kumar Tiwari had told CNBC-TV18 that the possibility of bringing gold bullion under compulsory certification was under active consideration with an aim to improve quality.
He also said the government may bring in a mandate to imprint or emboss the weight of the gold being sold in the retail market.
As a consumer, here are some crucial signs to look out for when verifying the authenticity of gold hallmarking:
Six-digit alpha-numeric code (HUID number)
A six-digit alphanumeric code is assigned to each piece of gold sold. Before April 1, 2023, this code consisted of only four digits. The recent regulatory changes have now mandated a six-digit HUID, which enables comprehensive traceability of the gold article back to the originating jeweller and the initial assaying centre.
Customers now have the option to download and use the BIS Care App, which aids in verifying the HUID's authenticity. By using the ‘Verify HUID’ feature in the app, buyers can enter the HUID number, and if it's genuine, the app will confirm its validity.
BIS mark
The Bureau of Indian Standards (BIS) mark, symbolised by a triangle, is a non-negotiable feature of hallmarked gold jewellery. It is one of the reliable indicators of purity.
Bill breakup
Buyers should request a detailed bill breakup and cross-check the hallmarking costs with the pricing set by the Assay and Hallmarking Centres (AHCs). Any discrepancies should raise a red flag.
Store address
Verify the store address against the guidelines set by BIS. This step further fortifies the legitimacy of the purchase.
Understanding gold hallmarking
Gold hallmarking is a system that certifies the purity of gold in jewellery and other products. It serves as a guarantee of purity and fineness and safeguards the public against adulteration.
Registered jewellers under the BIS hallmarking scheme are required to have their jewellery tested for purity, ensuring a high level of reliability and standardisation. Mandatory hallmarking is a significant step towards organising the jewellery industry and ensuring that customers receive what they pay for.
