Gold is a metal that’s expensive and many people prefer buying this metal during special occasions, especially during the festive time like Akshaya Tritiya, Dhanteras. Mostly gold jewellery is a common purchase, but other than that gold can also be purchased in the form of coins and gold bars. Many prefer buying gold coin rather than jewellery as it can be purchased in low denomination of 0.5gms. So, if you are toying with the idea of purchasing the gold coin in Malaysia, then consider these 5 things before making a purchase.
Purity Check
The two ways that you can check the purity of the coin is the Karat and the fineness. Karat is commonly used to measure the purity of gold and 24KT is the purest form of gold as it contains 24/24 portion of the gold. Some gold coins also have 22KT gold, which means that it contains 22 parts of the metal and the other 2 parts have other elements like zinc or silver, which makes the coin or jewellery more durable.
The other parameter to measure the purity of gold is the fineness. As per the World Gold Council, pure gold has minute amounts of impurities which the manufacturer might not be able to remove completely. Fineness is a weight of the metal in proportion with the total weight. It’s stated in unit parts per 1, 000. The purest 24KT gold, when measured in fineness, reflects 999.9 parts per 1,000 of purity.
It’s difficult to get a 24 KT gold jewellery, but it’s absolutely possible to buy a 24KT gold coin.
Hallmarking
When buying a gold coin, after purity, check the hallmarking. Hallmark gold ensures that the customer is not cheated when they buy gold metal. Hallmark is done for gold jewellery of 22KT, 18KT and 14KT. Gold coins are hallmarked by a stamp and this certifies their purity.
Packaging
Buy gold coin in Malaysia only if the packaging is secure and has not been tampered with. The packaging acts as a guard against fraud, damage, counterfeiting. If you intend to sell the gold coin, then don’t tear open the tamper-proof package of the gold coin. The packaging ensures that the gold coin is pure.
Making charges
Compared to jewellery purchasing gold coins is easier on the pocket. Gold coin offers the option to get the purest form of the metal at a low price. Making of gold coins is comparatively less than jewellery, as jewels have to heavily depend on fine craftsmanship which increases the making charge all the more further.
Options to buy gold coins
Instead of just depending upon the local jeweller, going online and searching for gold coin in Malaysia is a great way to get a cost-effective buy. The minimum denomination of gold coins varies according to the design. However, the availability of the denomination that you may plan to buy solely depends on the jeweller.
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