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On the auspicious occasion of Dhanteras and Diwali, purchasing gold coins and bullion is considered a symbol of auspiciousness and prosperity. In the last few years, to avoid crowding and long queues, people are preferring to order gold coins online from the comfort of their homes through leading jewelery brands, e-commerce platforms and fintech apps. As easy as it may seem to make purchases after seeing attractive cashbacks, bank offers and discounts on online platforms, even a little carelessness can cause huge financial losses. If you are also planning to buy gold coins online this festive season, then it is mandatory to check these 5 important things before pressing the ‘Buy Now’ button.
| important point | What needs to be checked? | Potential risks if ignored |
| 1. 999 Purity and Hallmarking | 24K (999/999.9 Fineness) and official refinery certification | Buying lower carat (22K or 18K) coins at 24K prices |
| 2. Tamper-Proof Blister Packaging | Certified sealed pack (Assay Packaging) containing the coin | Interchange, weight manipulation or scratching |
| 3. Making Charges and Premium | Manufacturing charges and packaging cost per gram | Paying 8% to 15% more than the market rate |
| 4. Buyback and Return Policy | Rules for taking back the coin by the same jeweler or refiner in future | Heavy cuts when selling or rejection by other jewelers |
| 5. Delivery Insurance and Unboxing Video | Transit insurance and video recording while opening the parcel | Claim rejected due to transit theft or empty compartment. |
Gold coin is always bought for investment purpose, hence pay special attention to its fineness.
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There are two standard categories of 24 karat gold—999 (99.9% pure) and 999.9 (Triple Nine – 99.99% ultra pure).
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Never buy ’22K’ (916) or ’18K’ (750) coins priced at 24 karats.
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Please check the product description for such assay certification from authorized refinery (like MMTC-PAMP, BRPL etc.) and confirmation of BIS standards.
Certified gold coins always come in a special sealed plastic card or blister packaging. The exact net weight, purity and serial number of the coin is printed on this packaging.
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The packaging itself is the Certificate of Authenticity of the coin.
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Never buy coins that come in an open bag or box.
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Never break this blister seal even after receiving the delivery, because if the seal is broken, the jewelers can deduct the amount in the name of Melting Charges while reselling it in future.
Most buyers only look at the market price per 10 gram of 24 carat, but ‘Making/Minting Charges’ are also added to the final billing of the coin.
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Making charges per gram on smaller coins of 1 gram, 2 gram or 5 gram can often range from 5% to 12%.
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When you go to sell the coin in future, you will only get the price of net weight of gold, the money is lost in making charge and 3% GST. So compare the making charges between different online sellers and choose the option with the least premium.
Always buy coins only from the official websites of reputed brands, certified bullion dealers or ‘Verified Sellers’ of renowned e-commerce platforms.
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Before ordering seller’s Buyback Policy A must read.
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Many platforms offer buyback of 100% of the value (at the prevailing gold rate) only on their own sold sealed coins. If a company does not have any buyback guarantee, you may face difficulty while selling it in the local bullion market.
Gold is a highly valuable commodity, so shipping and delivery security is paramount when ordering online:
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Confirm that the seller has received the parcel. 100% Insured (Fully Insured Transit) Is sending through or not.
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Check the outer seal and tampering of the parcel in front of the delivery boy.
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Complete the package from your smartphone without cutting while opening the parcel. 360-Degree Unboxing Video Create. If the parcel is found to be underweight, incorrect or the box is empty, this video will be the strongest legal evidence for your refund or claim. Along with this, download the confirmed GST invoice and save it safely.