How to check a gold bar’s authenticity?

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Gold is not used just as a currency today, but its role as money makes it superior to any currency. People used gold as currency for ages. One of the crucial promises of money is that it serves as a long-term store of value. Gold fulfils this promise better than any flat currency. It allows you to earn returns on investment and is also ideal for emergency funds.

Many Indians invest in gold biscuit because the premiums are lower and it is cheaper. You can store it quickly as it takes up lesser space than other ornaments. You also save costs on labour since the design does not involve heavy use of machinery. It is portable, private, liquid, and lasts forever.

Pick the best size

When you buy a gold bar, you need to decide on an appropriate size. They also come in different weight options, which may be as small as one gram or as big as 400 ounces—most of the central banks and ETF’s buy this size. The bigger the bar, the smaller the premium. High net worth investors could buy a large bar, provided they also have some bars denominated in smaller weights.

The brand

Buy only gold bars with a recognised hallmark and proper stamping. You must know how to make sure your gold is real. It would help if you bought a bar with its weight, purity, refiner, and a registration number stamped. A hallmark refers to the brand of the bar—the refiner or manufacturer that minted the bar. A good hallmark will allow you to sell the bar virtually anywhere in the world. It is highly liquid.

The dealer

Buy your gold jewellery from a reputed dealer only. You can assess their reputation during online jewellery shopping by checking the number of positive customer ratings, a buyback policy, and other benefits. A trustworthy dealer can provide a sound education, help you avoid pitfalls, and steer you toward the best products for your needs.

The rating

Give preference to those with lots of experience. Check for repeat customers—buyers would not return if they had a negative experience. Analyse the kind of service and response to the jeweller’s queries before finalising the deal.

Buyback policy

Will the dealer repurchase what you buy from them? If they do not have this policy in place, you may shop elsewhere. Not only do you want the dealer to be present at the time of sale, but you also want some guarantee that you will not get stuck without a ready buyer. Dealers tend to give existing customers the best resale price, even while jewellery shopping online.

Multiple forms of payment

Most dealers will accept a check or money order (or cash if you buy from a local shop). Bank wires and credit cards offer convenience, which is hard to beat. Some dealers now offer PayPal, Bitcoin and other digital means. Regardless of payment, keep in mind that online dealers will wait until your payment clears before shipping your order.

An online store

Consider the advantages of ordering jewellery online as compared to a brick-and-mortar store. It is quick and easy, can be done any time of day, and allows you to lock in your market price at the precise time you want to buy. Many online dealers are cheaper than your local shop even after paying the shipping charges since overhead is generally much lower.

Easy comparison

Whenever you shop online for products, ensure you compare different brands and dealers. Be sure to compare the total cost—commission, credit card or bank wire fees, and shipping and insurance. And consider that cost is not the only factor when buying gold; ease of ordering, delivery promptness, customer service, and buyback policies are all essential to consider in where you shop.

When you buy gold products online, you can access many choices and varieties. You also benefit from buyback policies where you receive a refund for the product purchased. You can lock in the price at your convenience at any time since online jewellery websites operate 24*7.

Conclusion

No matter how busy you are in the day, you can always prepare for a family event at night by purchasing the suitable ornaments. Online shopping saves lots of time, making the purchase of goods easy and hassle-free.

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