Understanding the 916 Gold Hallmark and What it Means for Gold Jewelry

In the realm of gold, the 916 gold hallmark occupies a significant position representing much more than a mere stamp. It exhibits a specific purity level thereby shaping the quality and value of the gold item. For those who do not know, 916 hallmark gold is commonly known as 22-carat gold. India is a huge gold market be it coins, jewelry, or gold bars because of cultural and social values. 

There were several cases of fake gold being smuggled into the market by unscrupulous elements. To prevent such activities and ensure customers’ faith in the system, the Indian government introduced a hallmarking system on all gold sold in or after the year 2000.  Read along to learn more about what 916 gold means and the different aspects associated with it. 

What is 916 Gold?

First, let’s have a detailed discussion on what 916 gold is and what its significance is. The digit 916 refers to 91.6 grams of pure gold per 100 grams of alloy. The remaining 8.4 grams are composed of other metals like brass or copper. This mixture gives a vibrant and lustrous appeal and is ideal for gold jewelry as pure gold or 24-carat gold is too fragile for intricate designs. The 916 hallmark establishes gold purity and customers have confidence that they are getting proper value for their money. 

The hallmarking system is governed by BIS (Bureau of Indian Standards). It is the national standards organization of India deriving powers from the BIS Act of 2000 and it is responsible for certifying gold and silver articles across the country. After evaluating and testing the gold jewelry, BIS allows some marks to certify the authenticity of the gold. BIS hallmarking is a solid proof that metals are pure and the respective jewelry has been made as per national and international purity norms.

Why & How 916 Gold is Made?

The 916 gold hallmark system came into force in 2000 and from 15th January 2020, the government made it mandatory for all jewelers to sell only hallmarked gold. As already discussed, 916 gold means 91.6% pure gold. This system guarantees the quality and purity of gold and makes consumers confident about the authenticity of the gold they are purchasing. 

Gold purity is measured in terms of carat. Pure gold is called 24-carat gold. However, this gold is too soft and fragile and is not suitable for making jewelry. Hence, manufacturers mix some brass, copper, or silver with pure gold and this gold alloy is hard, durable, and suitable for making jewelry. 

Now, let’s take a look at why pure gold has so much value as compared to other metals: 

• Gold is a symbol of status, power, and prestige. 
• Gold is rare and is difficult to extract as compared to other metals. 
• Gold has been used as a medium of exchange for many centuries. 
• Apart from investment purposes, gold is also used in heavy industries like defense, aerospace, electronics, and automobile industries because of its non-corrosiveness and malleability. 
• Gold is vibrant and visually appealing. 

Importance of Pure & 916 Gold

The major advantages why you should always go for pure or 916 gold are given below: 

• Purity Granted: 916 gold hallmarking offers a high level of purity with assurance of the Indian government’s certificate.

• Durable: Another advantage of buying 916 gold is its durability and long-lasting nature. It can withstand daily wear and tear and will also not lose its shape or integrity. 

• Perfect for Intricate Designs: The 916 gold retains the malleability and ductility of pure gold allowing for intricate and detailed jewellery designs.    

• Legal Tender: 916 gold holds intrinsic value and is accepted globally as a form of currency, making it a reliable investment.

• Valuable: 916 gold maintains a high market value due to its purity. It is recognized worldwide, ensuring that your investment remains valuable over time and can provide significant returns.

• Internationally used: 916 gold is widely accepted and used across the globe. Whether you are in Asia, Europe, or the Americas, you can easily trade, sell, or purchase 916 gold, making it a versatile and convenient asset.

Utilize Gold in Times of Need

Gold is not only an investment instrument but can also be used to obtain liquid money by mortgaging it. You can utilize your gold value by getting an instant loan against gold jewelry. Another benefit of buying 916 hallmarked gold is that you get high per-gram rates for your gold loan.

A gold loan is always superior to traditional loans because of the following reasons: 

• No Credit Score: A gold loan does not require any credit score or income documents as the yellow metal itself serves as collateral. 
• No End-Use Restrictions: You can use the proceeds of the gold loan as you like as there are no end-use restrictions unlike business loans, home loans, or car loans. 
• Lower Interest: A loan against gold comes at a lower interest rate as it is a secured form of borrowing. 
• Quick Approval: The approval process for gold loans is easy, quick, and convenient leading to immediate fund transfer.  

Want to go for a gold loan to meet your immediate financial needs? Sahibandhu – India’s leading gold loan aggregator platform is the go-to solution for you. Here are some reasons why you should trust Sahibandhu to get a gold loan: 

• Multiple Banks: Sahibandhu is associated with top banks for gold loans like ICICI, HDFC, and Axis Bank, etc. You can easily compare and get the best gold loan from a best bank.
• Attractive Interest Rate: Sahibandhu offers competitive and low interest rates on gold loans, which means your overall loan repayment amount will be quite low and affordable. 
• Diverse Repayment Scenarios: SahiBandhu has different gold loan plans according to your need, like SahiMax, SahiDelight, and SahiFexi and you can choose any one of them at your convenience. 
• Doorstep Service: Taking advantage of its digital prowess, Sahibandhu has started a doorstep gold loan service where executives will visit your home to complete the formalities and transfer the loan amount. Additionally, you can also visit the nearby Sahibandhu branch for a gold loan. 
• Minimal Documentation: Farewell to extensive paperwork, Sahibandhu requires minimal documentation and zero paperwork. 

Conclusion 

916 Gold Hallmark has been a revolutionary step in cleansing fake gold from the market and building trust among customers regarding the authenticity of their purchases. It is important that whenever you are looking to buy any gold jewelry, always check for the 916 BIS hallmark, and in case of any wrongdoings, report the matter to BIS. 

The 916 gold jewelry can also be used to solve your financial crisis by pledging it and borrowing a loan. Sahibandhu with its range of benefits and hassle-free user interface is the prime contender for fulfilling your gold loan requirements.