Avoid Silver Scams: Essential Tips for Buyers
Vaishno Devi ₹500 Crore Silver Scam: 5 Simple Tests To Check If Your Silver Is Real Before You Spend A Rupee
News 18
Image: News 18
The Vaishno Devi Temple Trust recently discovered a major silver scam, receiving only ₹30 crore from nearly 20 tonnes of silver coins, with only 5-6% being real silver. To protect yourself, follow five key tests to verify the authenticity of silver before making a purchase.
- 01The Vaishno Devi Temple Trust's silver coins were mostly fake, revealing a major scam.
- 02Only 5-6% of the coins sent for melting were actual silver.
- 03Five tests can help buyers confirm the authenticity of silver.
- 04Avoid purchasing silver labeled as 'German Silver' or 'Nickel Silver' as these contain no real silver.
- 05Always request a proper tax invoice when buying silver jewelry.
Advertisement
In-Article Ad
The Vaishno Devi Temple Trust, which had amassed nearly 20 tonnes of silver coins from devotees, faced a shocking revelation when only ₹30 crore worth of real silver was found after sending the coins to a government mint. This means that a mere 5-6% of the coins were genuine, while the rest consisted of low-quality alloys like cadmium and iron, sold to unsuspecting pilgrims. To avoid falling victim to similar scams, potential buyers should follow five essential tests to verify the authenticity of silver. These include checking for the Bureau of Indian Standards (BIS) triangle logo, a 999 purity mark, and a six-digit Hallmark Unique Identification (HUID) code. Additionally, simple home tests such as the magnet test, ice test, and tissue test can help identify fake silver. Buyers should also be cautious of products labeled as 'German Silver' or 'Nickel Silver,' which contain no actual silver. Lastly, always ask for a tax invoice that includes the HUID when making a purchase to ensure the legitimacy of the transaction.
Advertisement
In-Article Ad
This scam highlights the need for buyers to be vigilant and informed about silver purchases, especially in tourist areas.
Advertisement
In-Article Ad
Reader Poll
Have you ever been scammed while buying jewelry?
Connecting to poll...
Read the original article
Visit the source for the complete story.




