How Do I Ensure that the Online Gold I Bought is Authentic?
In an era where everything that was previously bought at physical stores in traditional markets is now sold online, there is a growing concern among the buyers about the quality and authenticity of the products they are receiving. The concern becomes even more intense when it comes to buying online gold from sellers situated in faraway places. In such situations, how can you make sure that the gold you are buying online is authentic or not? We have got you covered in this blog.
Know the Online Seller
While buying online gold, the first thing you should consider is the seller. You must check their authenticity and the age of their company. A company that has come into business only a few months back is likely to be fake or that has been established just to rip off money from people. It is very important to research the seller, their online reputation, and their social media presence.
Check if they have genuine followers on their pages and if the followers are engaging on their posts or not. Get to know their team better. Check out their LinkedIn profiles. See if the company team members actively engage in the posts or not. Most importantly, you should not look for lower prices when buying gold or any other precious metals. Always buy them at the market prices. If a seller is selling gold at a lower price, there are very high chances that the company is fake.
Read their Return Policy: How to Ensure that the Online Gold is Authentic?
The return policy of an online gold seller offers a great deal of information about the authenticity of the seller and its products. A vaguely defined return policy is a clear red flag and you should stay away from it. A well-defined return policy offering complete freedom to the buyer is a big Yes! Make sure that you go through the terms and conditions of the seller’s website carefully and understand each of them. If they have a strict return policy, you may not want to buy gold from such a seller.
Check the Purity
Always look for the carat number of the gold you are buying online. As you may know, gold is available in 24K, 22K, and 18K, with 24K being the purest form of gold. However, pure gold is highly ductile and malleable. Therefore, it is not used to make jewelry as it can easily deform and ruin the design. So, the jewelry mixes other metals like silver, copper, nickel, etc. to improve the hardness of the metal and make jewelry. Most of the trusted online gold sellers specify the purity of the gold they are selling.
Obtain the Bills: How to Ensure that the Online Gold is Authentic?
Obtaining official bills for your online purchases, especially for gold, is very necessary. In addition to this, a clear-cut bill helps you to ensure that you are buying the gold of the same weight and purity as is promised by the seller. It helps you to keep a record of your purchases. A bill also allows you to produce a proof for your gold purchases in case of income tax raids. In India, a person can keep unlimited amounts of gold as long as they are able to show proof of income and bills for their purchases. Check out this guide here to know how much gold can a person have in India.
Get the Hallmark Certification
A Hallmark certification is the easiest and the clearest indication that the gold you are buying is pure. The Bureau of Indian Standards gives Hallmark certification to jewelry and other gold-based products. Each product goes through a series of tests and quality checks. The whole process is governed by the Ministry of Consumer Affairs, Food, and Public Distribution. So, whenever you buy gold online, make sure that the articles come with Hallmark certification. In addition to this, you can run this test to identify fake and real gold on your already purchased items as well. To be more sure of the quality of gold, you can run a few more tests like an ice test, a nitric acid test, and so on.
Analyze the Packaging: How to Ensure that the Online Gold is Authentic?
The way your gold products have been packed by the seller and arrived at your doorstep can tell you a lot about the authenticity of the gold. Precious items valued at tens of thousands obviously can not be wrapped and sent out to the buyers in normal courier packaging. In addition to this, gold items should be wrapped in a special kind of paper that keeps the metal from undergoing any kind of damage or oxidation. On the other hand, if the gold item you bought is not 100% pure, the seller will barely care about the safety of your assets. Moreover, make sure that the package of your products is sealed and not torn off at any corner.
Buying online gold can be a headache, especially when you are buying it for investment purposes. Have you considered buying digital gold that you can easily convert into physical form and get delivered to your doorstep? OroPocket is offering you a one-stop solution for all your precious-metal-based demands. You can buy digital gold and convert it to physical form. You can also use it to make payments and send gifts to your friends and family members staying overseas, OroPocket fulfills all your needs and requirements. So, download the OroPocket application on your mobile phone today and begin investing.