Value of your old gold jewellery: The government has now banned the sale and purchase of unhallmarked gold jewelery in the country. Hallmarking has been made mandatory for selling or breaking old jewelery and also for making or exchanging new jewellery.
Old Gold Jewelry: If you have old jewelry in your house and you are thinking of selling it and making new jewelry, then definitely read this news completely. This is because the government has made new rules for selling jewellery. Unless you get it hallmarked, you cannot sell the old jewelery kept at home.
The government has issued new rules for gold hallmarking, buying and selling of gold. According to the rules, now hallmarking of old gold jewelery kept in homes has also become mandatory. The new rules state that from April 1, 2023, all gold jewelery and artefacts must have a Hallmark Unique Identification (HUID) number. However, earlier it was believed that hallmarking would be applicable only when purchasing new jewelery or gold products.
According to a report by Moneycontrol, the government has now taken a step forward and made hallmarking mandatory for the sale of old jewelery also. According to BIS, consumers who have unhallmarked gold jewelery must compulsorily get it hallmarked before selling it or exchanging it for a new design.
How to do Hallmarking?
Customers have 2 options to get their used jewelery hallmarked. They can get old, unhallmarked jewelery from BIS registered jewellers. The BIS registered jeweler will take the unhallmarked gold jewelery to the BIS Assaying and Hallmarking Center for hallmarking. Another option for customers is to get the jewelery tested and hallmarked at any BIS-accredited hallmarking centre.
How much money will have to be paid?
For hallmarking, if the number of jewelery is 5 or more, the consumer will have to pay Rs 45 for each jewellery. To get 4 pieces hallmarked, you will have to pay Rs 200. The hallmarking center recognized by BIS will check the jewelery and give its certificate. The consumer can take this report to any gold jeweler to sell his old unhallmarked gold jewellery.
old hallmark will work
If a customer has old/pre-hallmarked hallmarked gold jewellery, it will also be treated as hallmarked jewellery. Gold jewelery already hallmarked does not need to be re-hallmarked with HUID number. Such hallmarked jewelery can be easily sold or exchanged for new designs.
