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Buying Silver this Diwali? Here are a few things to keep in mind

Priyadarshini Maji
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Gold is what most people buy during the auspicious time of Diwali and Dhanteras, however, the second choice is silver. Silver is considered as a pocket-friendly alternative, that most people consider during the festive season. These metals can be bought in various forms, for instance, jewelry, bars, utensils, and coins. Silver the cheaper alternative to gold currently the price for per 10 grams as on October 25, is Rs 466.

This Dhanteras, if you are also planning on buying silver, here are few things to keep in mind;

The purity of silver: Similar to gold, the Bureau of Indian Standards (BIS) also hallmarks silver pieces. Generally, there are four signs that buyers should look for while buying a hallmarked silver piece. Experts suggest that hallmarking an article provides valid proof of the purity of the metal. If a silver piece is not hallmarked, buyers can request to get it hallmarked.

Buy-back policy: Many people sell old jewelry eve while buying a new one. Experts suggest one should ask about the jeweler about the buy-back policy. For instance, if a piece of jewelry is bought of the 925 grade then you will get paid only for 92.5 per cent of silver, at the time of selling your jeweler.

Making charges: This is charged while buying jewelry. Though most of us don’t know the price quoted by the jeweler includes making charges. To know the original price, you can ask the jeweler the prevailing price in the market and what are the making charges being charged separately.

Gemstones added: Many jewelry owners don’t inform its customers but they weighing gemstones embedded in the jewelry. Hence, while you are buying a piece of silver jewelry and it has gemstones embedded in it, make sure that the jeweler has not included the weight of these gemstones in the price of silver.