Things to Consider When Buying Gold Coins

Gold has always been one of the most popular metals for generations in India. It is also famous as a symbol of wealth, luck, and prosperity and is preferred as a part of traditional investment plans among Indians. Gold prices tend to increase when other types of investments decline, giving peace of mind and stabilizing effect to the investors in their portfolio. Also, good returns, negligible making costs, and transparent pricing are other advantages of buying or investing in gold Ginni or coins. Although, it is easy to buy, here are a few key things you have to consider before investing in gold coins.

Purity

There are two methods to check the purity of gold coins - Karat and fineness. While 24 Karat is the purest form of gold, containing no blends of other metals, 22-Karat gold has 22 parts of gold and 2 parts of metals like silver or zinc. This form of gold is used to make jewellery to provide durability and resilience to the metal. Fineness is another factor to check the purity of gold. It is assessed as the weight of pure gold in percentage to the total weight of the coin.

Hallmarking

Another essential point to consider while buying gold is checking whether it is hallmarked or not. A hallmark is a trademark or logo that verifies the purity of the gold coin according to the Indian Standard terms. Gold is tested and assessed as an official hallmarking centre, and later it gets certification if the metal used meets the guidelines and international standards of purity and fineness.

Proof of Purchase

It is vital to guarantee your possession with a billing invoice from the bank or jewellers you buy the gold coin. Ensure the billing documents highlight crucial details, including weight, Karat, and gold coin price of 10 gm. You should also check the packaging of the coin before buying it.

So, next time when you are going to buy gold coins, keeping the above mentioned points in mind will help you find the best deal.