How to determine the best place to buy gold jewellery | Updated 2023
Every so often we earthlings fancy blessing ourselves with ethereal masterpieces crafted with golden goodness. For certain folks, gold jewellery is a cherished memoir which unveils beautifully concealed personal tales, while for others they are the glossy crimson cherry on top that adds a tiny bit of zest to their glimmering picture-perfect profiles.
Essentially, locating a suitable place to buy gold jewellery is an absolute must whether you are expecting to enliven your fashionable imagination or skimming for a flawless gift to turn your sweetheart's frown into a giggle. Although it may sound easy peasy, if appropriate guidance is not provided, tracing down the ideal place to buy gold jewellery will leave you grasping at straws.
As scammers are evolving bolder nowadays you need to brace yourself before you buy gold jewels. Researching and garnering nonfictional knowledge about gold is critical, so prior to commencing the purchasing journey, let's board our vessel and sail towards a cave of wisdom.
Things To Know Before You Buy Gold Jewellery.
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Some General Knowladge About Gold.
Due to its prestigious worth and rarity, gold has been crowned as an eminent metal. Merely 0.0000004% of the outermost layer of the earth is fortunate enough to contain gold. Hence it cannot be greedily extracted in hefty quantities.
In terms of gold jewellery, ''Carats'' are the standard measurement unit employed universally to express how much gold has been alloyed with various additional materials. The popular 24K is pure because it has 99.9% gold in its proud composition. However, forms like 18K or 22K are combined with other elements during the construction. For example, 14k only consists of 58.3% gold and the remnants feature metals like nickel, zinc or copper. The more elevated the carat percentage is, the greater the portion of gold there is.
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Final Amount Calculation Before Purchasing.
When searching for a place to buy gold jewellery, keep in mind the value of the piece of gold has to be calculated separately. Factors such as crafting chargers, the current gold rate on the day of investment, and taxes have a play in it.
If you pick a delicacy heavily designed with gems, the wastage chargers are another expense to regard. Refer to the below formula if you're interested in summing up the total price.
- Final Price = Price of the gold per gram during the day of purchase X (multiplied by) weight of gold + labour cost + wastage expenses + GST (Goods and Service Tax) on total charges.
How To Determine The Best Place to Buy Gold Jewellery - 7 Tips!
1. Examine The Authenticity Of Gold.
If you're craving a ravishing piece of gold, rather than quenching your thirst with an embarrassing replica, certainly you would prefer the real deal. So, the most compulsory thing to do while deciding on a place to buy gold jewellery is to heavily ponder upon the purity of gold.
As we mentioned in the previous section, gold jewels are often assembled from an alloy of gold and other types of metal. Because by nature 24K gold is excessively flimsy and has a tendency to be unsuccessful in maintaining a firm build. Hence, for instance, the alloy composition of 22K yellow gold comprises 91.67% of refined gold, and 8.33% alloy of silver, copper as well as zinc.
On the contrary, counterfeit gold jewels are merely doppelgangers. They are created with entirely foreign or quite contrasting elements, and thus may only contain a microscopic layer of gold on the surface. Obviously to mislead the human eye!
Therefore, when determining a place to buy gold jewellery we advise you to keep your distance from shops that claim to offer gold painted, vermeil or plated jewellery. Browse their selection wisely to prevent entangling in deceptions.
Here are some typical imitations to be aware of:
- Fool's Gold - An iron sulfide known as pyrite mimics the appearance of gold. This causes misunderstandings because people assume it's real. These little swindlers crumble and powder when scratched, unlike actual gold. So, when you visit a place to buy gold jewellery don't forget to poke it decently for testing purposes.
- Gold-Plated Jewellery - In simple terms, 'plated' implies that a light coating of gold over another metal is laid. This shoddy dipping survives for a few years thanks to an electrochemical adhesion. So when you’re seeking a place to buy gold jewellery keep an eye on the word plated. Therefore, it will be more effortless to dodge this bullet.
2. Inspect The Jewellery Quality.
Similar to the aforementioned point, examining the hallmark embedded by respected manufacturers is a must. The majority of reputable jewellers integrate a hallmark stamp in each of their jewels.
- Hallmark - According to The GoldSmith's Company UK it's a set of component marks merged to confirm the validity affirmations from the manufacturer's end. It certifies that each piece is individually sampled and designed in alliance with legal standards.
When choosing a place to buy gold jewellery pick a couple of your favourite stores, dwell on their online sites and use your eagle eyes to thoroughly investigate whether their products have this authorisation. Typically, it's present on the back or beneath the jewel. If the mark is absent, to escape any future misfortune better to close that particular store's tab ASAP!
3. Consider A Store With a Myriad Selection Of Jewels.
If a store is generous enough to offer a wide range of jewellery, you receive unlimited freedom and a mountain of options to select from. So, while hunting for the best place to buy gold jewellery your unwavering aim should revolve around retailers that present a significant jewellery collection including, spellbinding necklaces, dangling earrings, and shimmering bracelets.
Certain stores may own gigantic collections of jewels that are decorated with gemstones while others may deliver tremendous varieties designed with solid gold. Once you've made up your mind to find the perfect place to buy gold jewellery scan numerous stores as well as web platforms and compare each of their selections. See how they differ in terms of uniqueness and design.
Pick the oddball, the store that showcases a higher possibility of being original with a not-so-mundane identity. Reputable dealers love to go beyond the regular styles.
4. Compare & Contrast Prices.
Another factor to memorise before picking a place to buy gold jewellery is comparing the collections as well as the prices across multiple retailers. Let's say you visit two shops and store A is marketing the identical product as store B but for a higher price. In such circumstances, facets such as craftsmanship, the reputation of the brand and the metal weight should be taken into account when picking between A and B.
Comparing prices will allow you to explore a whole new world with satisfying discounts, and flexible payment options or let you discover similar quality items at better prices. However, if your selected place to buy gold jewellery price ranges seems too good to be true please help yourself to flee out of the store.
5.Check Whether They Offer a Warranty.
Basically, a warranty is an extended service strategy that jewellers provide. It's supposed to cover minor scratches and tears, that occur to your jewels after you've used them for a period of time. It's high time to bash the consumer myths. Although gold jewellery is long-lasting, there are not eternal, thus is susceptible to confronting damage.
So to rescue yourself from the hassle, when looking for a place to buy gold jewellery, be like Nancy Drew. Sort your thoughts together, summon the utmost willpower and initiate an investigation to find the best shop that sells lifetime warranties.
Well-esteemed sellers take pride in offering an outstanding warranty with acceptable policies, and that alone will make them worthy of your investment. Remember! No warranty equals No rest for your innocent pocket.
6. Flexible Payment Plans.
Buying a chunky piece of gold can sometimes burn a hole inside your wallet. To prevent this sellers give their valuable consumers the opportunity to buy an item and pay afterwards in instalments, either with zero interest or with less interest rates. So, when determining the best place to buy gold jewellery pick a store that has various payment methods.
On the other hand, certain stores present you with gold schemes to make your shopping voyage affordable. These schemes involve payment in manageable instalments for a set duration and when the tenure ends you will be eligible to purchase gold jewellery of equivalent value from the store. So for your reassurance, consider these options when choosing a place to buy gold jewellery.
7. Read Customer Reviews.
Reviews are the social proof or testimonials that can establish trust. While you're browsing for a place to buy gold jewellery strive to uncover a store with plentiful positive reviews. More than the assertions stated by the jeweller, declares that stem through peers, and sour critics or personal recommendations should be invariably prioritised.
If an overwhelming consensus is about how the customer service or the gold quality is disappointing, don't spare a minute to contemplate. Likewise, if it has praises and flattering acclaim, you can send your anxious heart on a vacation.