Gold Seized Seized with Fake Hallmarks
March 13, 23
(IDEX Online) - Gold sovereigns with fake hallmarks have been seized in Kochi, in the south-west Indian state of Kerala.
Officials from the Bureau of Indian Standards (BIS) said the 118 gold coins, weighing 948 grams, were worth over $58,000.
They were being sold without hallmarking and with spurious use of the hallmark, the BIS said, and were seized form Thiru-Kochi Gold and Diamonds, Elamkunnapuzha, near Vypeen.
The BIS is urging traders and customers to check the hallmark, which comprises its logo, purity in carat and fineness, and a unique six-digit identity number.
Misuse of the BIS hallmark carries a maximum to two-year jail term.