If you are going to buy gold or you have to buy jewelery in the near future, then there is important news for you. The government has implemented hall marking from today. Earlier it was to be implemented from June 1, but in view of the second wave of Corona, it is being implemented from today. The government has made this big change to stop the fraud being done in the name of gold. Also, with this change, it will now be easier to identify real and fake gold.
According to the new guideline, now jewelers will be able to sell only 14, 18 and 22 carat gold. According to the government, there has been a 25% increase in hallmarking centers in different parts of the country in the last few years. Let us know what this hallmarking is and how you will be able to differentiate between fake and real gold –
what is hallmarking
Hallmark is a government guarantee. The Bureau of Indian Standards (BIS) is the only agency in India to determine the hallmark. Hallmarking is the certification of a product to certain parameters. BIS in India is the body which checks the quality standards being provided to the consumers. GOLD COINS OR JEWELRY Any gold jewelery which is hallmarked by BIS must bear the BIS logo. This shows that its purity has been tested in BIS licensed laboratories.
Present status of Hallmarking Center
- The original hallmark bears a triangular mark of BIS
- It has the hallmarking center logo on it
- The purity of gold is also written
- year of jewelery manufacture
- Manufacturer’s logo
How to identify purity
- 999 is written on 24 carat pure gold
- 916 is written on 22 carat jewelery
- 21 carat gold should be identified as 875
- 750 is written on 18 carat jewelery
- 585 is written on 14 carat jewelery
Why hallmarking of jewelery is important
Hallmarking is necessary to protect customers from counterfeit jewelery and to monitor jewelery business.
2- The advantage of hallmarking is that when you go to sell it, no depreciation cost will be deducted. Meaning you will be able to get the right price of gold.
3- In hallmarking, gold passes through several phases. Thus, there is no room for error in its accuracy.
4- Along with this, according to the BIS law passed last year, there is a provision of fine up to 5 times the value of the jewelery and one year imprisonment from a minimum of Rs 1 lakh to those who break the rules of hallmarking.