If you are looking to invest in silver but find the process of buying silver daunting, we have you covered. Silver Emporium, being an industry leader in the Silver sector, knows a thing or two about making the right investments. To help our readers master at this practice, we have put together a guide that answers the why, where and how of Silver investments.
Why?
Buying precious metal is seen as protection from inflation, market crashes, and government seizures. Precious metals never lose their value over the long term; they don’t expire or degrade and hence are a great alternative for a secure asset. Silver has proven to be a great investment option as it has attained a steady acceleration in growth over time.
Where?
Be it silver or gold; prefer buying it from a known family jeweller. If you don’t have a known establishment around you, then go for stores that have strong goodwill and reputation. Smaller, unknown stores have been known to dupe customers with lower purity products, inflated rates, bad craftsmanship and poor aftersales services.
How?
- Check the price: Always check silver prices online before making the purchase. There can be a difference of 1% to 1.5 % price between the retail price and the price shown on the online sites. You can on insist your jeweller charge the same price shown online. Should you need further assistance with regards to rates, you can contact our customer care on+91-9116629371
- Check purity: Once the product is selected, ask for purity and making charges. Check if the purity is stamped behind the product. If there is a difference between the stamped purity and the claims made by the store then you have the right to ask for clarification. Insist on getting product hallmarked once the product is selected. Here is a link for all the hallmarking centres in India:https://bit.ly/2PNwT40
- Once the product is hallmarked check for four stamps that indicate purity.
- Tax Invoice- Always insist on a tax invoice with your purchase. Always Insist on return policy/exchange policy to be written on tax invoice. This further safeguard your investments and prevents you from becoming a victim of fraudulent practices.
Myths around Buying Silver:
1. Is Hallmarking Expensive?
No. you can get your silver products hallmarked for Rs. 25 + 18% GST per silver item all across India.
2. Can silver products be made cadmium free?
Yes. All silver products can be cadmium free. For more details refer to our comprehensive guide on Cadmium and the health hazard it poses, check the article on our learning centre: Cadmium: A serious health threat.
3. Trust vs. Certification:
It is good to trust your family jeweller but always insist on a Hallmark certification. This makes reselling and uprising your valuable easy.
4. The difference in the Rate of Buying, selling and exchange.
If you are buying a product or selling your silver product to the same jeweller you bought it from, then the difference in buying or selling silver rate should not be more than 1%. However, this may differ on the policy of silver jeweller so clarify the return policy on the product before investing.
Just keep the above things in mind before making your final purchase and you and your silver can both be safeguarded.