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What is the best possible way to buy gold coin?
- Thread starter rish_s
- Start date
In my experience offline shopping is cheaper but you will have to ask around at popular jewellery stores in your city. Online shopping has added cost such as shipping.
Don't know the best way, but here is what my family follows:
Buy offline from a reputed brand/chain of jewellery stores. Be sure of the objective of buying coins - if it is for investment, please consider SGB or at max Gold ETF instead of coins. For us, objective of buying coins is that we can buy in small denominations and later exchange for buying jewellery. For this purpose it is important for us to consider where we will eventually buy the jewellery from and for that everyone has personal preferences but buying coins from the same brand/chain usually gives the most overall value. The jewellery chain which you feel is a good combination of price, accessibility, trust, typical designs that our family likes is the one we go for.
Sadly, the chain our family uses does not have any vouchers on any portal - hence we lose out on that, but for the family what matters most in this case is that they like the designs only from this jewellery chain, so after that there is no scope for any further discussion 🤐
Buy offline from a reputed brand/chain of jewellery stores. Be sure of the objective of buying coins - if it is for investment, please consider SGB or at max Gold ETF instead of coins. For us, objective of buying coins is that we can buy in small denominations and later exchange for buying jewellery. For this purpose it is important for us to consider where we will eventually buy the jewellery from and for that everyone has personal preferences but buying coins from the same brand/chain usually gives the most overall value. The jewellery chain which you feel is a good combination of price, accessibility, trust, typical designs that our family likes is the one we go for.
Sadly, the chain our family uses does not have any vouchers on any portal - hence we lose out on that, but for the family what matters most in this case is that they like the designs only from this jewellery chain, so after that there is no scope for any further discussion 🤐
I once bought coins from a reputed jewellery chain and once billing was done and I said I would pay with AMEX, they said they will charge 3% extra. Despite all my arguments and warnings that I will complain, they did not budge and said that it is the company policy and it is openly mentioned in print on their bills as well. To my surprise, their bill actually mentioned that if paid through credit cards, they charged 1.5% extra for all cards and 2.5% for AMEX. On arguing with them further, all they did was they gave me another separate bill for the extra amount they charged. Though I paid, I also felt that here I had evidence that they were doing this malpractice.
However, after raising this with AMEX and with multiple email exchanges, AMEX finally said that while the vendor 'in-principle' should not charge extra, it is their company policy and there was nothing that AMEX could do and the vendors were free to charge that amount. It felt so frustrating, I was more angry at AMEX than the vendor. I guess with acceptance of AMEX already so limited, they did not want to take it up and lose a big national jewellery chain. I did not have the time or the patience to take it up further with RBI, but I did switch my business from that chain to another jewellery chain that does not charge anything extra on any credit card.
However, after raising this with AMEX and with multiple email exchanges, AMEX finally said that while the vendor 'in-principle' should not charge extra, it is their company policy and there was nothing that AMEX could do and the vendors were free to charge that amount. It felt so frustrating, I was more angry at AMEX than the vendor. I guess with acceptance of AMEX already so limited, they did not want to take it up and lose a big national jewellery chain. I did not have the time or the patience to take it up further with RBI, but I did switch my business from that chain to another jewellery chain that does not charge anything extra on any credit card.
Last edited:
federer.reddevil
TF Ace
Can you tell which chain it is so people can avoid that mistake
ssnthegenius
TF Select
Online sales.
Just checked the actual invoice - it was 1.5% and 2.5% for Visa/MC and AMEX/DC respectively, edited my post here. However, what matters is that they were charging extra. Attaching the extract of T&C printed at the back of the invoice. Pt. no. 4.
federer.reddevil
TF Ace
Iamgora
TF Select
You can switch to senco. I use cc for the purchase and they don't charge any extra amount. I use visa/mastercard
federer.reddevil
TF Ace
Same with Kalyan havent had any issue with paying using CC
Wtf big chains also charging fees that worst way to promote their business in crores
Is it pc jewelers or pc chandra jewelers. Both are not same. PC jewelers is not so famous.
It is PC Jewellers. While both are nationwide chains, I guess PC Chandra is more in famous/popular in Bengal whereas PC Jewellers is more visible elsewhere. Anyways, with Tanishq, Kalyan, Senco, malabar etc., PCJ anyways is reducing in popularity, I hope and assume.
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