Find Genuine Gold Coin Buyers And Exchange Your Precious Metal Asset For Cash

by Cashfor Gold And Silverkings Jewelry Buyer

In India, one of the most prestigious and popular metals in terms of both sale and investment is gold. Please do not mistake this golden metal to be only about flashy ornaments, but it is a good form of saving for it has a good return for the money when market prices of gold are high.

Many people prefer buying gold coins, bars, or nuggets instead of jewellery for the sole purpose of investment. As per the statistics of gold buyers in Gurgaon, the demand for this precious metal increases during major Indian festivals like Dhanteras, Akshay Tritiya, Dussehra, Laxmi pooja, and also during the wedding seasons.

During the mentioned festival season, you might come across several types of coin buyers and sellers. It might be a tricky task to find genuine gold coin buyers, but this problem too can be overcome by the right approach.

Important Things To Know Before Selling Or Buying Gold Coin

Even if you are only concerned about the selling of gold coins, there are some important facts that you will have to present to the potential buyers. There are some key factors which you might want to consider checking before you determine to sell or buy this expensive aurous metal for getting the best value.

1. Purity

The two preliminary ways to gauge the purity of a gold coin is by checking the fineness and karat. The more common measure of purity is the karat of the yellow metal, and it varies from 22 to 24 Karats. 22 Karat gold coin means that the coin consists of twenty-two parts of gold and two parts of other metals like silver or zinc. Similarly, 22 Karat of gold contains twenty-four out of twenty-four parts of gold, which makes it extremely pure.

The other measure of the purity of coin being fineness; it depends upon the weight of solely gold present in the coin in proportion to the total weight of the coin, including the impurities. The World Gold Council claims that even the purest coin might contain a very minimal amount of impurities, which are generally alloys that even the manufacturer cannot remove it.

2. BIS Certification Or Hallmarking

In India, certified coins and articles are considered important for them to confirm its purity, and this certification is identified by a trademark or a hallmark, which is in accordance with the specifications of Indian Standard.

Most buyers demand BIS certified coins for it saves them the hassle of quality test for the hallmark ensures the metal meets the national and international purity standards. Many people are hesitant about buying gold that is not Bureau of Indian Standard (BIS) certified for fear of it being artificial.

3. Making Charges

Investing in coins is better than investing in its ornament variant for the making charges of coins are lower. The making charges of gold coin ranges from 3% to about 11% and for gold ornaments, the making charges begin from 8% and ranges higher depending on the craftsmanship.

However, if you are planning to resale your gold, remember that the next buyer will profit for not having to bear the making charges. Therefore, it is easy to understand that coins provide a better return than other forms of this aurous metal.

4. Bill And Document

One of the most crucial requirements of buying and selling of precious metal is the documents. Asking for a bill is mandatory for it guarantees your purchase. The bill or the gold product’s document contains essential information about its properties like karat, weight, price, etc. The bill of the coin is the evidence of legal ownership, proof of purity along proof of proper purchase value.

5.  Packaging

As a seller, you will also need to consider the packaging of the coin for an intact packaging will ensure the buyers that no tampering had been done to the coin. Buyers should always incline on purchasing gold coins with tamper-resistant packaging. 

Where To Find Buyers?

There are many popular websites for selling and buying precious metal on the internet. Through utilizing the right medium of advertisement, you can come across several genuine potential online gold buyers. Another way to sell gold coins is by approaching and enquiring in local or big jewellery shops. Check the reviews of the jewellery stores and only sell if you feel they are secure and reliable.

Sponsor Ads

• Ad Space Available - Rent it Now!

Created on Nov 27th 2020 04:35. Viewed 464 times.

Comments