Buying gold and silver on Dhanteras is auspicious. While buyers prefer gold due to its shine, silver is a pocket-friendly alternative. Like gold, you invest in silver products and ornaments such as utensils, jewellery, bars, and coins. It is the second precious metal after gold worldwide and holds immense value.

Investing in a silver coin is a wise option if you plan to make minimal expenses. Also, it is available cheaper than gold and fulfils your financial requirements. Jewellers use silver in jewellery because of its lustre, malleability, and easy availability. They last longer if you know the tricks of preservation and care.

Purity

Just like gold, silver is also available in hallmark certification. The Bureau of Indian Standards (BIS) hallmarks silver articles as well. There are four signs to check during online jewellery shopping – BIS logo, purity grade, hallmarking centre’s identification number, and jeweller’s identification number. Hallmarking silver and gold jewellery is a voluntary process and provides valid purity proof.

Making charges

While buying silver jewel articles, you consider the price quoted by the jeweller at face value. Ask them the prevalent market price and making charges before finalising the deal. Current making charges are Rs. 3 per gram without maximum limits.

Return policy

While jewellery shopping online, always enquires about the return policy. How much money will you get upon selling the article on a future date? For instance, if you bought silver jewellery of 925 grade, your jeweller pays you only for 92.5% of silver while selling it. Therefore, know the various charges considered in calculating the sale price of your jewellery.

Gemstones

Some silver jewellery bought from online jewellery sites has gemstones embedded in it. Ensure that the jeweller does not price in the weight of the gemstones while charging you.

Receipt

Always buy from authenticated websites and outlets dealing with hallmarked products. Check for the BIS hallmark in stores and while buying jewellery online. Ask for a receipt of the purchase and check whether it mentions the silver purity and weight of the product. All silver products bought online have the year of hallmarking on them. Check for it on the bill as well.

Factors determining silver prices

The final price of a silver article includes factors like silver content, labour cost, other material costs, packaging cost, and taxes. You pay 3% GST in India. Buy silver from a jeweller who gives you the guarantee of BIS Hallmark. Many options are available online as well. Choose them wisely while considering your budget, requirements, and utility.