Real or fake gold: Manish (name changed), a resident of Khurja, recently went to a local finance company to take a gold loan. He thought that the 20 grams of gold jewellery he had would easily get him a loan. But when the company examined the gold, the real truth came out. The company clearly said that this gold is only 14 carats, whereas for a loan, gold of at least 16 carats or more purity is required.
Manish was shocked. The reason was that he had bought this jewellery in the name of 16 carats. The shopkeeper took more money from him, but gave him gold of lesser carats in return. This incident is a lesson for every person who buys gold without checking.
The biggest mistake in buying gold
Gold is not just a jewellery, but it is an investment. But many times, due to greed or carelessness, people forget to check its purity. Shopkeepers take advantage of this opportunity and sell gold of a lower carat by claiming it to be of a higher carat. The result is that the buyer does not get the real price later on, at the time of the loan or sale.
Manish’s story highlights this mistake. If he had been a little more cautious while buying, he might not have had to face this problem.
Why is it important to know how pure gold is?
The purity of gold is measured in carats. 24 carat gold is considered to be the purest, but it is sold with adulteration to make the jewellery stronger. 22 carat, 18 carat, and 16 carat are usually used for jewellery. But if a shopkeeper sells you 14-carat gold by claiming it to be 18 or 22 carat, you may suffer a huge loss.
This is what happened with Manish. He paid for 16 carats, but it was found that his gold was 14 carats. This was not only a financial loss, but also a betrayal of trust.
BIS Hallmark and its importance
The biggest proof of the authenticity of gold in India is the BIS hallmark. It is a triangle-shaped mark that indicates that the gold has been tested at a government-recognized center. If the gold does not have a BIS mark, it is possible that the jewelry is fake or its purity is not as much as it is being claimed.
Unfortunately, many people ignore this and buy jewelry without a hallmark. If Manish had also seen this mark while buying, he might have avoided being cheated.
Every jewelry has its own unique code
Every gold jewelry now has a HUID, i.e., Hallmark Unique Identification Number. It is a kind of digital fingerprint, which has a combination of letters and numbers. This number can be easily checked by going to the BIS Care App. This ensures that your jewelry is genuine and its purity is certified.
Security is provided by the original bill
Often, people think that only the hallmark or BIS mark is enough. But this is not completely true. It is equally important to get the correct and original bill. The GST number of the shop is recorded in the bill, which you can check on the official website. If you have the original bill, then in case of any dispute later, you can also take legal steps.
Machine testing is the surest way
Nowadays, a machine called Caratometer is present in many shops, which immediately tells the purity of gold. Getting it tested with this machine further strengthens your security. If Manish had taken this step, he would have already known that his jewelry was of 14 carats, and he could have questioned the shopkeeper.
You’re learning from Manish’s mistake
This story of Manish is not just one person’s experience, but a warning for every buyer. Never hurry while buying gold. Always look for the hallmark, confirm the HUID number, take the correct bill, and get the purity checked with a machine.
Gold is considered a lifetime deposit. A small mistake can make your investment worthless. So the next time you shop for jewellery, be cautious and take the right steps. Avoid becoming a victim of fraud like Manish.