Gold Redemption FAQ: BIS Hallmarking, 916 Purity, Legal Rules & Pledged Gold Selling Process
1. How does the gold redemption or pledged gold selling process work?
We make it easy and secure for you to release pledged gold from banks, pawn shops, gold loan companies, or cooperative societies. Here’s how:
- Advance Payment – We provide you with the necessary amount in advance to settle the pending loan at the bank or gold loan company.
- Gold Redemption – Using this advance, you redeem your pledged gold. (In Tamil: அடகு நகை மீட்டு விற்க — adagu nagai meetu virka; In Malayalam: പണയ സ്വര്ണം വില്ക്കാന് — panaya swarnam vilkan).
- Quality Check – Once retrieved, we check for BIS Hallmark and 916 purity to confirm authenticity.
- Final Payment – After purity verification, we pay you the remaining balance for your gold, completing the pledged gold sale.
2. Do you help with re-pledging gold?
Yes. We offer re-pledging assistance — releasing pledged gold from one bank or lender and re-pledging it with another (or the same lender) to:
- Get lower interest rates
- Avail more loan value
- Improve cash flow without losing your gold
3. What is BIS Hallmarking?
BIS (Bureau of Indian Standards) Hallmarking certifies gold’s purity and authenticity. The mark includes:
- BIS logo
- Purity grade (e.g., 916)
- Assay center’s stamp
- Jeweller’s ID mark
BIS hallmarking ensures you receive gold of the stated purity.
4. What does 916 Purity mean?
916 purity = 91.6% pure gold (22 karat), with 8.4% alloy metals for durability. It’s the most popular choice for jewelry because it offers strength while maintaining high purity.
5. Is it legal to sell non-hallmarked gold?
Since June 16, 2021, hallmarking has been mandatory for new gold jewelry. Selling non-hallmarked gold is generally not allowed, but older ornaments purchased before this rule can still be sold after purity testing.
6. Why is BIS Hallmarking important?
- Ensures purity guarantee
- Prevents fraud
- Increases resale value
- Keeps you legally compliant
7. Can I redeem pledged gold if it’s not 916 purity?
Yes. We buy and help release pledged gold of any purity. The value will be adjusted according to the gold’s purity level.
8. How long does pledged gold redemption or re-pledging take?
Gold Redemption – Usually 10 minutes to 2 hours, depending on:
- Loan firm’s procedures
- Document verification
- Gold purity testing
Re-Pledging – Generally 1 to 4 hours, depending on:
- Processing delays at the banks involved
- The fact that two banks (or lenders) may be part of the transaction
9. Why choose us as your pledged gold buyers?
- Fast gold release and payment
- Experience in pledged gold selling & re-pledging
- Transparent purity testing
- Assistance with both local and outstation gold loans
அடகு வைத்த நகையை மீட்க : 8089243515
പണയ സ്വർണം ഉയർന്ന വിലയ്ക്കു വിൽക്കാൻ : 8089243515