Why in news? Union Ministry of Consumer Affairs, Food and Public Distribution reported that, the sale of gold jewellery will not be allowed without a Hallmark Unique Identification (HUID) number.
What is HUID number on gold jewellery?
- HUID number is a six-digit alphanumeric code.
- It is given to every piece of jewellery at the time of hallmarking, and is a unique identifier for each gold item.
- The jewellery is stamped with the unique number manually at the Assaying & Hallmarking centre.
- It will be easy to trace the individual piece of jewellery, and is a guarantee of quality.
- In HUID-based Hallmarking, registration of jewellers is automatic with no human interference.
- It is a secure system and poses no risk to data privacy or security
Why is hallmarking of gold jewellery important?
- Hallmark is a mark on gold jewellery which is affixed by an entity recognised by Bureau of Indian Standards (BIS) to assure its fineness and purity
How to check for this hallmark?
- A BIS Hallmark consists of three symbols — the BIS logo, a symbol to indicate the purity and fineness of the jewellery, and then the HUID.
- 22K916 is a 22 carat gold piece of jewellery that has 91.6 percent gold.
- 18K750 is an 18 carat gold piece of jewellery has 75 percent gold.
- 14K585 is a 14 carat gold piece of jewellery has 5 percent gold.
How can you check the purity of old jewellery?
- Purity of gold jewellery can be checked at any BIS-recognized Assaying and Hallmarking Centre with minimal fee of Rs 200.
- Consumer cannot apply to the Assaying and Hallmarking Centre for getting a hallmark on her gold jewellery. This has to be done through a BIS-registered jeweller.
What are the benefits of hallmarking?
- The most important benefit is that the consumer is aware of the quality of the product she is buying and will not be cheated.
- Since the quality of the jewellery is guaranteed, that piece will fetch a higher price when re-sold.
- Banks are likely to give loans on better terms if the mortgaged jewellery is hallmarked.