The government has recently introduced new regulations regarding Gold Hallmarking, affecting the buying and selling of gold. Under these rules, it is now mandatory to have old gold jewelry, kept at home, hallmarked. Starting from April 1, 2023, all gold jewelry and artifacts must bear a Hallmark Unique Identification (HUID) number. Previously, it was believed that hallmarking would only be required for newly purchased jewelry or gold products.
According to a report by Moneycontrol, the government has taken a further step by making hallmarking compulsory for selling old jewelry as well. The Bureau of Indian Standards (BIS) states that consumers who possess unhallmarked gold jewelry must get it hallmarked before selling or exchanging it for a new design.
There are two options for customers to get their used jewelry hallmarked. They can take their old, unhallmarked jewelry to a BIS registered jeweler, who will then send it to a BIS Assaying and Hallmarking Center for hallmarking. Alternatively, customers can have their jewelry tested and hallmarked at any BIS-accredited hallmarking center.
The cost of hallmarking depends on the number of ornaments. If there are five or more pieces of jewelry, the consumer will have to pay Rs 45 for each item. For four pieces, the fee is Rs 200. The hallmarking center, recognized by BIS, will inspect the jewelry and provide a certificate. The consumer can then present this certificate to any gold jeweler when selling their old, unhallmarked gold jewelry.
It’s important to note that if a customer possesses gold jewelry already hallmarked with the old/earlier hallmark marks, it will be considered as hallmarked jewelry. There is no need to re-hallmark such jewelry with the HUID number. This means that hallmarked jewelry with the previous markings can still be easily sold or exchanged for new designs.