3 Things to Keep in Mind When buying a Gold Coin

In India, gold is more than just a precious metal for jewellery. It is also an option for investment. People also buy gold on festivals like Akshaya Tritya and Dhanteras in the form of coins, biscuits, and bars. A gold coin is the most affordable form of gold investment, and most people go for it. But when you are planning to buy gold, specifically a gold coin, there are certain things to pay attention to, lest you make a mistake. Here they are:

1. Purity

The quality of gold is measured in two ways: purity and fineness. The purity of the gold is measured in karats. 24 karat gold considered the purest form of gold because it implies 24 out of 24 parts of the coin is gold. Gold that’s 22 karat gold is 22 parts gold with 2 parts other metals like silver or zinc mixed in to increase its durability while making jewellery. 24 karat gold is the most expensive.

2. Hallmark

To ensure that the gold you’re buying is as pure as claimed by the jeweller, the Government of India has set up the Bureau of Indian Standards (BIS) to officially certify the purity of gold. BIS stamps the gold and silver coins to certify their purity. When you buy a gold coin, ensure it’s certified by BIS.

3. Packaging 

Always avoid buying a gold coin that has broken packaging. Gold coins are sold in tamperproof packaging. Its packaging implies it’s the final product and packed to be sold. No one but the buyer can break the packaging. And it is recommended to not break the packaging unless one wants to resell the gold.

In the age of technology, you don’t even need to visit a jeweller to buy a gold coin. You can do online gold coin purchase on platforms like Muthoot Finance and have the coin delivered right to your home. When the coin gets delivered, ensure to pay attention to the aforementioned things double-check its credibility.