How to buy gold coins in India?

Published: Wednesday, April 24, 2013, 10:19 [IST]

Buying gold coins is not the ideal way to buy gold, since one has to arrange a place to store it and one would always be worried of theft. Gold ETFs are far better. In any case here are a few things to note when you buy gold coins, either from a jeweller or the bank.

Make sure you have your PAN card with you

In case you are purchasing gold coins whose value is in excess of Rs 50,000 it's best to keep your PAN card with you. Banks and jewellers will straight away decline to sell you gold, if you do not have your PAN card with you and wish to purchase in excess of Rs 50,000.

It maybe advantageous to buy from a jeweller

While banks also sell gold coins, you maybe better off buying gold coins from a jeweller simply because he would buy it back. It's unlikely that banks would buy your gold back.

Check for purity...though it is guaranteed

It's important that you check for purity and buy your coins from a jeweller of reputation.

Take your pick on sizes

Gold coins come in various sizes including 5, 10, 20 and 50 grams. Take your own pick on the sizes.

It's always advisable to buy gold in the electronic form for ease in selling and buying. Nontheless, investors can take a pick between gold coins and e-gold.

GoodReturns.in

Story first published: Wednesday, April 24, 2013, 10:19 [IST]

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