Selling your old gold jewelry has become more transparent and secure than ever before. However, if you own unhallmarked gold jewelry, you will need to go through a new process before selling or exchanging it for a new design.
According to the Bureau of Indian Standards (BIS), customers with unhallmarked gold jewelry must first get it hallmarked before selling or exchanging it.
There are two options available for customers:
1) BIS Registered Jeweler: Customers can approach a BIS registered jeweler who will take the unhallmarked gold ornaments to the BIS Assaying and Hallmarking Center for the necessary hallmarks. A nominal charge of Rs 45 per piece will be applicable for this service.
2) BIS-Accredited Hallmarking Centers: Customers can also choose to get their jewelry tested at any BIS-accredited hallmarking center.
The charges for this service are Rs 45 per piece for five or more ornaments, and Rs 200 for four pieces.
The hallmarking center will provide a certificate, which can be presented to any gold jeweler when selling the old unhallmarked gold jewelry.
Exceptions to the Mandatory Hallmarking Rule
It’s important to note that if a customer possesses hallmarked gold jewelry with old/earlier hallmarks, it will still be considered as hallmarked jewelry.
Such jewelry can be easily sold or exchanged for new designs without requiring the Hallmarked Unique Identification (HUID) number.
Additionally, certain categories are exempt:
1) Jewelers with an annual turnover of up to Rs. 40 lakh.
2) Gold weighing less than 2 grams.
3) Jewelry made for international exhibitions, government specified business, or domestic exhibitions.
4) Gold articles used for medical, dental, veterinary, scientific, or industrial purposes.
5) Gold watches, fountain pens, and special types of jewelry like kundan, polki, and jadau.
These new guidelines aim to bring greater transparency and assurance to the gold jewelry industry, providing consumers with confidence when buying and selling their precious possessions.
