Key takeaways
- Buy from a licensed seller and obtain a detailed invoice.
- Verify the stated purity and the applicable hallmark or product markings.
- For bullion, confirm gross weight, fineness, refiner and serial/assay information where applicable.
- Understand whether the quote is spot-linked and what premium or spread is included.
1. Verify the seller
MoCIIP advises consumers to purchase precious metals and jewellery from licensed shops. A physical business identity and documented transaction make verification and after-sales handling much clearer.
2. Check purity and hallmarking
For jewellery and regulated precious-metal articles, verify that the fineness marking and official hallmark are appropriate. MoCIIP has publicly identified approved gold, silver and platinum grades and highlights verification of national hallmark stamps.
3. Check the invoice
A detailed invoice should clearly identify what you purchased. Depending on the product, useful details can include metal, purity, weight, product description, price and seller information. MoCIIP specifically encourages consumers to obtain a detailed invoice that clarifies product specifications.
4. For bullion, verify the bar itself
- Refiner or brand.
- Fineness marking.
- Weight.
- Serial number where applicable.
- Assay card or certificate where applicable.
- Packaging and condition for minted retail products.
5. Understand the price
Ask which market reference is being used and whether the quote includes a premium, discount or dealer spread. Physical bullion does not necessarily trade at the exact screen spot price.