If you are planning to buy silver coins this Dhanteras, then beware of the duplicate coins being sold frequently these days in the market.
The percentage of fake silver coins’ sale has increased considerably in the market with such items being sold in about 80 per cent shops here in the local market of the State capital, revealed Praveen Jain, owner of Sumer Chand Jain Jewellery shop at Dhamawala. Generally the demand for items made from expensive metals increases during Dhanteras and Diwali every year. The advent of the fake silver coins has raised question on the purity of the silver coins. It is becoming tougher for general customers to differentiate between the pure and the fake silver coins.
According to the jewellers, the accurate percentage of silver metal, present in the coin decides the purity and impurity of the coin. The duplicate silver coins have lesser quantity of silver and greater quantities of other silvery looking metals are mixed in it. The weight of silver coins which are sold in package is also not reliable.
Jewellers revealed that fake silver coins contain a mixture of large percentage of silvery metal alloys. The percentage of alloys may vary from 50 to 80 per cent. Amit Verma, owner of Alaknanda Jewellery shop at Dhamawala said that the purity of the silver coins can be checked by weighing it. He added that generally the duplicate silver coins weigh lesser or are heavier than the stipulated weight.
Akhilesh Gupta of Pankaj Jewellers at Sarafa Bazaar, Dhamawala, said that he recommends the customers to avoid buying duplicate coins and go for the hallmark ones as they are certified and pure coins. However, some jewellers suggested that customers should be aware of this duplicate business popular in the market these days and ask the shopkeeper to provide a written receipt, which may certify the purity of the silver coins.
Inflation affects sale of gold, silver
Dehradun: Inflation is badly affecting the sale of expensive metals like gold and silvers this festive season. As per local shopkeepers, the sale of the yellow and white metals has reduced by up to four times in comparison to the last few years. According to Sanjay Bhola of Bhola Jewellers, earlier they used to sell around two to three kilograms of silver every year, but now the sale has halved.