Dhanteras 2024: What is gold hallmarking? Key factors to know about purity of yellow metal before buying

The festival of Dhanteras is here and people are gearing up to celebrate Diwali week with all traditional fervour. Dhanteras marks the beginning of Diwali festivities spanning over 5 days. Buying gold and silver on Dhanteras is considered auspicious and it is believed that purchasing the precious metals attracts wealth and prosperity.

The festival of Dhanteras will be celebrated on Tuesday, October 29, this year.

Before buying gold on the occasion of Dhanteras it is important to safeguard your money against gold with impurities or counterfeit products. It’s advisable to buy gold or silver jewellery and artefacts ‘hallmarked’ by the Bureau of Indian Standards (BIS).

Let’s understand what is gold and silver hallmarking in detail.

What is gold hallmarking?

Gold hallmarking refers to the accurate assessment and official documentation of the proportionate amount of gold or silver in jewellery and other items. Hallmarking is an official mark issued by the BIS to ensure the purity of the 24K, 22K and 18K gold items. The government made hallmarking of gold jewellery and artefacts mandatory in June 2021 with the introduction of Hallmarking Unique ID, a six-digit alphanumeric code. The hallmarking done for a product is valid for its entire lifespan. The hallmarking of silver can be done as an authentication of purity but it’s not mandatory.

How to check for hallmarks on gold?

Buyers who wish to purchase gold products this festive season should check for the BIS hallmark which consists of 3 indicators: the BIS logo, purity of the product in carats as well as fineness and the six-digit alphanumeric HUID number.

BIS Hallmark

The BIS hallmark indicates that the purity of the gold product has been verified in a licensed laboratory operated by the Bureau of Indian Standards. The BIS hallmark is shown in the form of a BIS logo, which is triangular in shape.

Purity In Carat

It is important to check for markings that denote the purity of the gold such as 22K916 (91.6% purity), 18K750 (75% purity), or 14K585 (58.5% purity). These markings can be checked to determine the level of purity in the gold product. On the other, hand the 24-karat gold will have a hallmark of 24K999, indicating 99.9% purity.

HUID number

A Hallmark Unique Identification (HUID) number is one of the important components of a hallmark. The HUID number appears as a six-digit alphanumeric code. The alphanumeric number is unique for each hallmarked item and is traceable. Additionally, the HUID number can also be verified using the BIS Care App’s ‘Verify HUID’ feature.

What are the charges for hallmarking?

In order to comply with BIS regulations, jewellers can get the products made by them hallmarked by BIS. The charge for hallmarking gold products is ₹45 per article and for silver, the charges are ₹35 per article.

The hallmarking of gold and silver articles is done in consignments. A consignment is a collection of articles/artefacts of the same purity from which a sample is drawn and assayed.

The charge for gold articles is a minimum of ₹200 per consignment (exclusive of Services Tax and other levies). On the other hand, the charge per consignment for silver articles is a minimum of ₹150 ( exclusive of Services Tax and other levies). Buyers should note that the hallmark charges do not include making and wastage charges.

The hallmarking charges remain the same irrespective of the weight of the article.

Benefits of Hallmarking gold

There are many benefits of purchasing hallmarked gold jewellery:

Quality assurance: Jewellery that has a hallmark stamped on it helps the buyer to easily assess the purity of the gold or silver used in the product.

Protection against malpractices: Prior to the introduction of hallmarks, customers relied only on word-of-mouth and the jeweller’s promise regarding the purity of gold or silver. Often customers used to be cheated in the absence of a standard system to check purity while purchasing gold or silver. A hallmark protects the customer from such malpractices.

BIS trying to increase coverage: The Bureau of Indian Standards (BIS) aims to enforce the hallmarking of jewellery and other such products made from precious metals in all 766 districts of India. The hallmarking of jewellery is likely to become the norm as BIS is increasing its testing facilities for accurate assessment.

Unique ID: The unique HUID of your gold or silver product helps in identifying it. Jewellery that is lost or stolen can also be tracked using this code.