Festivals are an important part of our life. It not only helps us preserve our culture and tradition but also gives us a reason to spread happiness among each other. It gives us a reason to take a break from our busy working schedules and spend quality time with our loved ones and make them feel special. With Dhanteras just a few days away, make your loved ones feel special by gifting them 24 karat pure gold coins.
Why Gift Gold Coins?
Many people must be wondering why they should give gold coins and not something like a gadget or apparels. While you can give innumerable things to your loved ones but gold seems to be the best fit for the occasion due to the following reasons:
- It is considered auspicious in India
‘Dhanteras’ word is derived from two Sanskrit words, ‘Dhan’ and ‘Teras’, meaning ‘Wealth’ and ‘13th’ day of Kartik month (as per the Hindu Calendar), respectively. Staying true to its name, the festival is celebrated by buying precious metals such as gold and silver. Buying gold coins or gold jewellery on this day is especially considered auspicious. It is believed that buying gold on this day to brings prosperity and happiness in your life. Therefore, every year on this day, in spite of the prevailing high gold rate, you see a lot of people buying gold coins and gold jewellery at various gold jewellery stores. So, this Dhanteras give your near and dear ones the gift of prosperity and wealth with gold coins.
- It has retained its value through centuries
Gold has been with us for many centuries now but the metal has not lost its shine. Due to its unmatched features and rare availability, the metal is still going strong not just in India but globally. Paper currency and other assets might lose their value after a while but gold will still be there as it did through these years, giving you more reason to gift it to your loved ones as this gift will never lose its value with time.
- It is a good investment option
Gold is a good investment option; this is a fact on which many experienced investors agree. As per them, at least 5% to 10% of your portfolio should be invested in gold to hedge the adverse effects of the market, inflation and geopolitical crisis. But Indians usually averse investing in the market; thus rarely build an investment portfolio due to the lack of knowledge and market volatility. They seek stable investment options that can give them good returns in the long run. And even in this case, gifting gold coins is perfect as the metal is both stable and rewarding in the long run. Gold mutual funds, Gold ETFs and Digital Gold are also paperless gold investment options that your loved ones can consider.
- It can be liquidated anytime
Gold is not just a wealth builder; it is also a savior when a financial crisis hits you bad. While there are other financial assets that have a great resale value such as property but they are not as highly liquid as gold. You can easily sell the yellow metal at any jeweller’s shop and get money as per its current value. Another best part about having physical gold is that you can easily get a loan against it. Even if you do not qualify for a personal loan or any other loan due to credit score or eligibility criteria, you can easily score gold loan without much trouble as it does not has stringent policies and long verification processes. Thus, with gold coins, you also give your loved ones the power to deal with financial emergencies.
But Gold Coins Do Not Fit My Budget
When you buy gold coins from a bank or a jeweller’s shop, its final price not only includes the prevailing high gold rates but also other variables such as making charges, wastage charges, etc.; thus making it quite expensive. So if gold coins are not within your budget, don’t lose hope as Paisabazaar.com in collaboration with SafeGold presents Digital Gold – a new way to buy 24 karat gold at low prices. It is a simple and transparent way to buy 24K (995 fine) gold for an amount as little as ₹100. It can be bought online anytime at Paisabazaar.com website at live gold prices. Though it is bought in a dematerialised form, it can be easily converted to 24 karat gold coins and delivered at your doorstep anytime. And as far as safety is concerned, then you need not worry about it as every rupee you pay to buy Digital Gold is used to buy an equivalent amount of physical gold. This gold is then stored in a secured and insured central vault for which you don’t need to pay anything. Great, isn’t it.
Since you have a tight budget and still have to cover festival expenses, buying Digital Gold would be beneficial for you. You can purchase it in fractions and when you think enough amount of gold has been accumulated, get it delivered at their addresses. One more thing that you can do is take a Gold Savings Plan. Paisabazaar’s Gold Savings Plan is a great way to systematically and regularly build wealth for your people and save for their future. It helps you make regular savings in 24 karat gold. You can start investing in the plan at Rs. 500 and continue as long as you want. Another great feature of the plan is that the user can anytime change, stop and resume their plan anytime. Moreover, you can withdraw money whenever you want as it does not have a lock-in period.
Suggested Read: Digital Gold – A Smart Way to Invest in Gold
If gold coins fit your budget and you want to gift it to your friends and family, you must be careful of where you buy it from. To avoid purity concerns and buy gold at right gold rates, you need to buy it from the right place. So let us see from where you should buy gold coins.
From Where Should You Buy Gold Coins in India?
There are a lot of avenues from where you can buy gold coins but not all of them are reliable. To help you with the same we have compiled a list of options from where buying gold is safe:
- Banks/NBFCs: Almost all banks and a few NBFCs such as Manappuram Finance Limited offer gold coins to people. The purity of gold they offer on gold coins is usually of 24 karat and 999 fine. You can buy gold coins at selected bank branches and can also be bought through the bank’s net banking platform. As per your budget, you can choose to buy gold coins of weight varying from 0.5 grams to 100 grams. You can be assured of the purity as these coins are certified and hallmarked and are given in a tamper-proof packaging.
- Jewellery Shops/Showrooms: Gold coins can also be bought from a gold jewellery shop or showroom provided it is well-established. Buying gold from local jewellers can be risky as they don’t have an established credibility in the market. The chances of a popular brand to be involved in malpractices are negligible as they have a reputation to hold in the market. Moreover, renowned branded stores maintain transaction transparency and provide an invoice at the time of gold purchase.
- Online Platforms: With people increasingly spending more time on their smartphones, everything is being digitized and moved to online platforms. After banking and payments, physical gold in the name of Digital Gold is also now being purchased, sold and home delivered on online platforms. Paisabazaar.com is one such platform from where you can buy, sell and get delivery of gold. A lot of banks and NBFCs too have online platforms where they offer gold coins and gold bonds.
