How to Keep a Record of Your Family's Gold Jewellery

Gold is the one investment almost every Indian family holds and almost nobody records. A simple record protects you when you insure, sell, divide or lose a piece.

What to note for every piece

• Item and owner: mangalsutra (Priya), chain (Rahul), coin (family)
• Purity: 24K, 22K, 18K or 14K. Most jewellery is 22K; diamond and stone settings are usually 18K
• Weight in grams, from the bill or weighed at a jeweller
• Purchase date, price paid and making charges
• Where it is kept: bank locker, home or with a family member
• Bill and HUID: yes or no, and the 6-digit hallmark ID if there is one

How to value your gold today

Take the day's 24K rate per gram, then adjust for purity:

• 22K = 24K rate × 0.916
• 18K = 24K rate × 0.75
• 14K = 24K rate × 0.585

Example: if 24K is ₹12,850 a gram, a 20 gram 22K bangle has gold worth about 20 × 11,771 = ₹2,35,420. Jewellers deduct a little when they buy back, and they do not pay for making charges or most stones, so treat this as the gold value, not a guaranteed sale price.

Why bills and HUID matter

Since 2021, jewellery sold in India must be BIS hallmarked, and each piece carries a 6-digit HUID. The bill and HUID prove purity and ownership. Without them, a buyer will test the piece and may offer less, and insurance claims become harder. If an old piece has no bill, write down where and when it was bought; that still helps.

How jeweller gold schemes work

Many jewellers run monthly schemes: you pay a fixed amount for 10 or 11 months and they add a bonus instalment. At the end you buy jewellery worth the total. Points to check before joining:
1. Is the bonus paid in cash value or as a discount on making charges?
2. Can you buy coins, or only jewellery with making charges?
3. What happens if you miss a month or want to stop early?
Keep every receipt and track instalments so the final amount is not a surprise.

Keep the record safe

Store the file with your other important papers and tell one trusted family member where it is. Update the gold rate once or twice a year, and add new pieces the day you buy them.

Our Gold Savings & Jewellery Record values every piece at its own purity from one gold rate, highlights items without bills and includes a gold scheme tracker. Works in Excel and Google Sheets.