Hallmark symbols on gold are quality assurance marks that indicate the gold’s provenance, origin, and purity. These symbols, stamped on gold objects by licensed organisations, guarantee the gold’s quality and purity. They are significant because they assure the buyer of the purity and authenticity of the gold item, aiding in preventing the acquisition of fake gold.
There are three types of hallmark symbols: BIS hallmark, non-BIS hallmark, and international hallmark. The BIS hallmark is the most common in India, granted by the Bureau of Indian Standards (BIS), and includes four marks indicating the purity of the gold item. The non-BIS hallmark is granted by private agencies and is not as reliable as the BIS hallmark. The international hallmark is recognised globally and ensures that the gold item meets international standards.
Common gold hallmark logos explained
Gold hallmark logos are official markings stamped on gold jewellery to indicate its purity, origin, and sometimes the maker. These logos are crucial for verifying the gold content and making informed purchases.
Common hallmark numbers include ‘750’ for 18k gold and ‘585’ for 14k gold. The number ‘750’ indicates that 75% of the composition is pure gold, while ‘585’ signifies 58.5% gold.
Another common logo is the karatage mark, such as ‘18K’ or ‘14K’, which represents the ratio of pure gold to other metals in the alloy. For instance, ‘18K’ means the item is made of 75% gold, while ‘14K’ indicates 58.3% gold.
In India, the BIS hallmark is common and includes the BIS logo, a symbol indicating purity and fineness, and a six-digit alphanumeric code.
Different types of hallmark symbols on gold
Hallmark symbols on gold are quality assurance marks that indicate the purity of the gold. They are significant because they assure the buyer of the purity and authenticity of the gold item, aiding in preventing the acquisition of fake gold.
There are three types of hallmark symbols: BIS hallmark, non-BIS hallmark, and international hallmark. The BIS hallmark is the most common in India, granted by the Bureau of Indian Standards (BIS), and includes four marks indicating the purity of the gold item. The non-BIS hallmark is granted by private agencies and is not as reliable as the BIS hallmark. The international hallmark is recognised globally and ensures that the gold item meets international standards.
BIS hallmark
The BIS Hallmark is a certification mark issued by the Bureau of Indian Standards (BIS), India’s national standards body. It signifies that a gold or silver item meets the standards set by the BIS regarding purity and fineness. The hallmark includes the BIS logo, a three-digit number indicating the purity of the gold, the Assaying and Hallmarking Centre’s mark, the jeweller’s identification mark, and the year of marking. This system protects consumers against adulteration, obligates manufacturers to maintain legal standards of fineness, and enhances India’s competitiveness in the global gold jewellery market.
Non-BIS hallmark
Non-BIS Hallmark refers to the certification of gold purity by private agencies. These hallmarks are not as reliable as BIS hallmarks because they are not regulated by the Bureau of Indian Standards (BIS), India’s national standards body. Non-BIS hallmarks may vary in their marking system and the level of purity they certify. While they can provide some assurance of gold purity, they lack the stringent standards and widespread recognition of BIS hallmarks. Therefore, it’s generally recommended to opt for BIS hallmarked gold for assurance of purity and quality.
International hallmark
The International Hallmark, also known as the Common Control Mark (CCM), is a global standard for gold purity. Introduced by the Precious Metals Convention, the CCM is recognised worldwide and ensures that gold items meet international standards. The CCM is a conformity mark indicating that the gold article has been controlled according to the Convention’s requirements. It is applied along with the Assay Office mark, the responsibility mark, and the fineness mark. This system facilitates cross-border trade in precious metal articles while ensuring fair trade and consumer protection. It’s a significant step towards global uniformity in gold purity standards.
Types of gold Hallmark logos and their meanings
Gold hallmark logos are quality assurance marks that indicate the purity of gold. They are significant because they assure the buyer of the purity and authenticity of the gold item, aiding in preventing the acquisition of fake gold.
There are three types of hallmark symbols: BIS hallmark, non-BIS hallmark, and international hallmark. The BIS hallmark is the most common in India, granted by the Bureau of Indian Standards (BIS), and includes four marks indicating the purity of the gold item. The non-BIS hallmark is granted by private agencies and is not as reliable as the BIS hallmark. The international hallmark is recognised globally and ensures that the gold item meets international standards.
22 carat gold
22-carat gold refers to gold that is 91.7% pure, with the remaining 8.3% composed of other metals like silver, zinc, nickel, or other alloys. This blend of metals makes the gold more durable and suitable for crafting jewellery. In this composition, 22 parts out of 24 are pure gold, and the remaining 2 parts are other metals. The addition of these metals does not diminish the value of the gold but enhances its practical use. Therefore, 22-carat gold is a popular choice for making jewellery due to its durability and high gold content.
18 carat gold
18-carat gold is a type of gold alloy that contains 75% pure gold and 25% other metals, such as copper or silver. The ‘18’ signifies that out of 24 parts, 18 parts are pure gold. This blend enhances the gold’s durability, making it suitable for crafting intricate and durable jewellery. Despite the addition of other metals, 18-carat gold retains a rich golden hue and is highly valued. It strikes a balance between purity and strength, making it a popular choice for high-quality, fine jewellery. It’s more affordable compared to higher carat gold, offering a good mix of value and practicality.
916 gold
916 gold, also known as 22-karat gold, is an alloy made up of 91.6% pure gold and 8.4% other metals like copper and silver. This mix gives it a warm yellow colour and makes it durable for crafting jewellery. In simple terms, it’s a type of gold that’s strong and popular for making beautiful jewellery. The digit 916 refers to 91.6 grams of pure gold per 100 grams of alloy. The remaining 8.4 grams are composed of other metals like brass or copper. This mixture gives a vibrant and lustrous appeal and is ideal for gold jewellery as pure gold or 24-carat gold is too fragile for intricate designs.
BIS Logo
The BIS logo is a triangular-shaped standard mark issued by the Bureau of Indian Standards (BIS), India’s national standards body. It signifies that a product, such as gold, meets the standards set by the BIS for purity and quality. The logo is affixed on every registered product and its packaging after receiving the BIS Registration Number. It is usually accompanied by the Indian Standard Number, Registration Number, and the ‘URL’ of the BIS Website. The presence of the BIS logo ensures conformity to the specification of quality, labeling, and manufacturing requirements, providing assurance to consumers.
How hallmark symbol on gold helps to avail for gold loan benefits
Hallmark symbols on gold play a significant role in availing gold loan benefits. These symbols, which certify the purity of gold, instill confidence in lenders about the authenticity and value of the gold being pledged as collateral.
When a gold item is hallmarked, it guarantees its purity, ensuring that the lender can trust the value of the gold. This trust can lead to better loan terms, including potentially higher loan amounts, as the lender has assurance about the quality and resale value of the gold.
Moreover, hallmarked gold can fetch a better rate when selling or pledging, as its purity is certified. This can result in a higher loan-to-value ratio, meaning borrowers can get a larger loan amount against the same weight of gold.
The role of hallmark symbols in gold loans
Hallmark symbols on gold play a significant role in the gold loan process. These symbols, which certify the purity and authenticity of gold, provide assurance to lenders about the value of the gold being pledged as collateral.
When a gold item is hallmarked, it guarantees its purity, ensuring that the lender can trust the value of the gold. This trust can lead to better loan terms, including potentially higher loan amounts, as the lender has assurance about the quality and resale value of the gold.
Moreover, hallmarked gold can fetch a better rate when selling or pledging, as its purity is certified. This can result in a higher loan-to-value ratio, meaning borrowers can get a larger loan amount against the same weight of gold.
Why hallmarked gold is preferred for gold loans
Hallmarked gold is preferred for gold loans due to its certified purity and authenticity. When gold is hallmarked, it undergoes rigorous testing by recognised authorities, ensuring its quality and purity. This certification provides assurance to lenders about the value of the gold being pledged as collateral, leading to better loan terms and potentially higher loan amounts.
Moreover, hallmarked gold can fetch a better rate when selling or pledging, as its purity is certified. This can result in a higher loan-to-value ratio, meaning borrowers can get a larger loan amount against the same weight of gold.
In addition, hallmarked gold eliminates the risk of fraud or purchasing impure gold, providing transparency and aiding in easy exchange or resale in the future. This assurance of purity, quality, and authenticity makes hallmarked gold a preferred choice for gold loans.
Benefits of using gold with hallmark logos as collateral
Using gold with hallmark logos as collateral for loans has several benefits. Firstly, it assures lenders of the gold’s purity and authenticity, which is crucial when determining its value. This assurance can lead to better loan terms and potentially higher loan amounts.
Secondly, hallmarked gold can fetch a better rate when selling or pledging, as its purity is certified. This can result in a higher loan-to-value ratio, meaning borrowers can get a larger loan amount against the same weight of gold.
Thirdly, hallmarked gold eliminates the risk of fraud or purchasing impure gold, providing transparency and aiding in easy exchange or resale in the future. This assurance of purity, quality, and authenticity makes hallmarked gold a preferred choice for gold loans.
Conclusion
In conclusion, hallmark symbols on gold are not just indicators of purity and authenticity, but they also play a crucial role in availing benefits in the gold loan process. They provide assurance to lenders, potentially leading to better loan terms and higher loan amounts, thus benefiting the borrower.
Gold loan provide attractive features such as minimal documentation, flexible repayment options, and gold loan interest rates, which are crucial for borrowers during high gold rate periods.
