Guide to buying genuine silver this Dhanteras

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Updated: November 02, 2021 1:37 PM

The demand for gold and silver coins in the market increases, as during this time it is considered auspicious to buy those. However, be aware of fake coins as, on the occasion of Dhanteras, there is a lot of fake silver coins that circulate in the market.

Gold, gold investment, Gold ETF, Sovereign Gold Bond, better investment, Dhanteras 2021, SGB, RBI, LTCG tax, gold prices, Diwali, Physical Gold Vs Digital Gold, Physical Gold, Digital Gold, mutual funds, gold ETF, gold jewellery, dhanteras, diwali, Akshaya Tritiya, gold investment, Covid-19 pandemic, lockdown, digital gold, gold mutual fund, MF, gold ETF, Sovereign Gold Bond, SGB, RBI, secondary market, interest on investment, capital gain tax,To attract more customers, various online platforms have been offering rewards, discounts and cashback even on buying gold and silver.

Gold is what most people buy during the auspicious time of Diwali and Dhanteras. However, the second choice is silver. As a pocket-friendly alternative, silver is bought by most people during the festive season. This metal can be bought in various forms. For instance, jewellery, bars, utensils, coins as well as in digital form. Silver, the cheaper alternative to gold, is currently priced at Rs 646 per 10 grams as of November 2.

To attract more customers, various online platforms have been offering rewards, discounts and cashback even on buying gold and silver. For instance, Amazon on its Amazon Dhanteras Shopping Store is offering up to 20 per cent off on gold coins, along with 20 per cent off on silver coins. The Amazon Dhanteras Shopping Store is also offering up to 40 per cent discount on gold and silver jewellery, and zero per cent making charges on diamond jewellery.

For people buying Silver as an alternative to gold this Dhanteras, here are a few things to keep in mind;

The purity of the metal: The Bureau of Indian Standards (BIS) hallmarks silver pieces, similar to gold. Industry experts say that hallmarking an article provides valid proof of the purity of the metal. If a silver piece is not hallmarked, as a buyer you can request to get it hallmarked.

Fake coins: The demand for gold and silver coins in the market increases, as during this time it is considered auspicious to buy those. Having said that, be aware of fake coins. Industry experts say due to the high demand for silver coins, on the occasion of Dhanteras, there is a lot of fake silver coins that circulate in the market. Hence, make sure that what you are buying is original.

Buy-back policy of jewellery: Ask the retailer about the buy-back policy for any jewellery, as people can sell old jewellery even while buying a new one. For instance, if you buy a piece of jewellery of the 925 grade then you will get paid 92.5 per cent of silver, at the time of selling your jeweller.

Making charges of jewellery: While buying gold or silver jewellery, making charge is always added. Having said that, experts say most don’t know that the price quoted by the jeweller includes making charges. Hence, to know the original price, one can ask the jeweller the prevailing price in the market and what are the making charges being charged separately.

Gemstones on silver jewellery: Many jewellery owners weigh pieces of jewellery with gemstones embedded in them. That way the along with the metal the heavy gemstones are also getting weighed, making fool out of the customers. Hence, experts say while buying a piece of silver jewellery with gemstones embedded in it, make sure that the jeweller has not included the weight of these gemstones in the price of silver.

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