Gold,
silver hallmarking
:
Gold
and
silver
jewllery have long been treasured for their beauty and value. However, ensuring their purity and authenticity is important, especially in a market prone to fraudulent practices. This is where the
hallmarking
scheme comes into play. Here’s what you need to know about
hallmarking charges
and its procedures:
What is gold, silver hallmarking?
Hallmarking is the process of accurately determining and officially recording the proportionate content of precious metals in articles, such as gold and silver.
It serves as a guarantee of their purity or fineness. In India, hallmarking is governed by stringent standards outlined in IS 15820, according to an ET report.
Hallmarking charges
Hallmarking charges are applied per article, regardless of its weight. For gold articles, the charge is Rs 45 per article, with a minimum charge of Rs 200 for a consignment. Similarly, for silver articles, the charge is Rs 35 per article, with a minimum charge of Rs 150 for a consignment. It's important to note that additional taxes and levies may apply.
ALSO READ | Silver set to outperform gold? Precious metal likely to cross Rs 1 lakh mark over 1 year horizon
A consignment refers to a collection of articles with the same fineness, from which a sample is drawn and assayed for compliance. Different lots may exist within a consignment.
Testing for purity
Anyone can have their hallmarked
jewellery
tested for purity at an A&H centre by paying a testing fee of Rs. 200 (for testing using the fire assay method as per IS 1418). These centres must be recognized by the BIS. The list of recognized A&H centres is available on the BIS website under the hallmarking section.
The importance of hallmarking
The primary objective of hallmarking is to safeguard consumers from counterfeit products. To achieve this, the Indian government made hallmarking mandatory for gold jewellery from June 16, 2021. Since April 1, 2023, jewellers are prohibited from selling any gold jewellery without a 6-digit
Hallmark Unique Identification
(
HUID
) number.
Old hallmarking signs
If you bought gold jewellery on or before June 30, 2021, it may have old hallmarking signs. These signs include the purity/fineness mark and the BIS emblem, along with two additional indications: the jeweller's identification number and the assay centre's mark/number.
ALSO READ | What is 24 karat gold? Know difference between 999 vs 995 fineness gold
Hallmark symbols
However, starting July 1, 2021, these two indications were replaced with a unique alphanumeric HUID code. The hallmark remains valid for the lifetime of the jewellery, and consumers can sell old jewellery, whether hallmarked or un-hallmarked, to jewellers.
HUID in the hallmarked gold jewellery
The HUID, or hallmark Unique Identification number, is a key component of hallmarking in gold jewellery. It's a unique six-digit alphanumeric code assigned to each hallmarked item, allowing for traceability. Customers can verify the HUID number using the 'Verify HUID' feature in the BIS Care App.
Key components of hallmark on gold jewellery
Since the introduction of the HUID on July 1, 2021, the hallmark on gold jewellery consists of three marks: the BIS logo, the purity of the article in caratage and fineness, and a unique six-digit alphanumeric HUID number.
FAQs
Hallmarking charges are applied per article, regardless of its weight. For gold articles, the charge is Rs 45 per article, with a minimum charge of Rs 200 for a consignment. Similarly, for silver articles, the charge is Rs 35 per article, with a minimum charge of Rs 150 for a consignment.
What is the charge of gold hallmarking charges? ›
Hallmarking charges for the jewellery are – Rs. 45/- +GST per piece for gold jewellery and Rs. 35/- +GST per piece for silver jewellery irrespective of the weight of the jewellery.
How much does gold hallmark cost? ›
Hallmarking charges are meant to be paid per article. The amount is irrespective of the weight of the article. On March 4, 2022, the Bureau of Indian Standards (BIS) announced the hike in the hallmarking fee for gold jewellery and artefacts to Rs 45 per item from Rs 35.
What are the new rules for gold hallmark in India? ›
April 1, 2023 onwards all gold jewellery and artifacts will need to mandatorily carry a 6-digit alphanumeric HUID or Hallmark Unique Identification. This number will help consumers trace the gold jewellery back to its jeweller and also help check its purity.
What is the charge for gold purity testing? ›
The Bureau of Indian Standards (BIS) on March 4, 2022, said the hallmarking fee for gold jewellery and artefacts have been raised to Rs 45 per item from Rs 35. Similarly, hallmarking fee for silver jewellery and artefacts have been raised to Rs 35 per item, from Rs 25.
What is the making charge on hallmark silver? ›
Hallmarking charges are applied per article, regardless of its weight. For gold articles, the charge is Rs 45 per article, with a minimum charge of Rs 200 for a consignment. Similarly, for silver articles, the charge is Rs 35 per article, with a minimum charge of Rs 150 for a consignment.
What is the normal making charges for gold jewellery? ›
Wastage and making charges for gold vary, but here's a general idea: Wastage: Typically ranges from 2% to 10% of the gold weight. Making charges: Can be a flat fee per gram (often for simpler designs) or a percentage of the total gold weight (usually for intricate designs). This can range from 3% to 25%.
Which gold is better, KDM or hallmark? ›
If the gold jewellery is primarily for personal use and durability is a priority, KDM gold can be a suitable choice. However, if the jewellery is intended for gifting or resale, hallmark gold's guaranteed purity and higher resale value make it a more prudent option.
What is the purest gold hallmark? ›
Which gold hallmark is better, 22 carat or 24 carat? The choice between 22 carat and 24 carat gold hallmarks depends on your preferences. 24 carat gold is the purest, with 99.9% gold content, making it ideal for investment.
How do you calculate gold hallmark? ›
The formula to calculate karats is simple: carat/24. For instance, 22C gold can be calculated as 22/24, which equals 0.916 or 91% pure gold, often referred to as 916 gold. Therefore, products like 22C gold are stamped with the 916 seal to indicate their purity.
Essential Guidelines and Regulations
According to the latest customs regulations in India, male passengers are allowed to bring in up to 20 grams of gold jewellery duty-free, provided its value does not exceed Rs. 50,000. Conversely, female passengers have a duty-free gold limit of 40 grams, with a maximum value of Rs.
How much gold can you keep at home legally in India? ›
According to the recent CBDT circular, regardless of marital status, men are limited to owning a maximum of 100 grams of genuine gold as jewellery. In contrast, married women can possess up to 500 grams, unmarried women up to 250 grams, and men, in general, up to 500 grams.
What is the new rule in India for gold? ›
Hallmarking is a certification process that verifies the purity of gold in India. The government has made it mandatory for all gold jewellery and artefacts to be hallmarked with 6-digit alphanumeric HUID from April 1st, 2023.
Does it cost money to test gold? ›
The most accurate gold testing machines use X-ray fluorescence (XRF) spectrometers. These can cost thousands of dollars.
Who certifies gold purity? ›
What is BIS Hallmark? The government of India has initiated and declared the “BIS Hallmark” scheme to protect and certify the authenticity of Gold metal. Bureau of Indian Standards (BIS), is the acclaimed agency that certifies and hallmarks gold and silver jewelry since the year 1986.
What is the most expensive gold purity? ›
24K (100% pure gold)
Being the highest karat of gold, it's easy to assume that 24K is the “best” gold to buy, but that isn't necessarily the case. Pure gold can be easily scratched and bent, so it's impractical for daily wear (yet the most expensive).
What are the extra charges for gold? ›
Making charges can vary between 6% and 14% or more of the total weight of the gold. There are two ways the jeweller can calculate the marking charges. One way is to have a fixed rate per gram, and the other is to add a specific percentage of the total weight of the item.
What is the charge for gold? ›
The price of gold today, as of 8:17 am ET, was $2,577 per ounce. That's up 0.12% from yesterday's gold price of $2,574. Compared to last week, the price of gold is up 3.20%, and it's up 4.96% from one month ago. The 52-week gold price high is $2,579, while the 52-week gold price low is $2,364.
What is the making charge of 1 gram gold? ›
The making charges is the cost of converting raw gold into jewellery. This is usually expressed in Rupees per gram of gold. In most cases, the making charges per gram of gold vary from 25 to 35 rupees.
Why do jewelers charge so much for gold? ›
Gold jewelry is often sold at higher premiums than gold coins or bars. The main reason why gold jewelry is so expensive is because it is expensive to produce. Gold coins and bars are cheaper alternatives to investing in gold jewelry.
