Silver Rate Today in Cooch Behar

Cooch Behar, or Koch Bihar, is a city and the headquarters of Behar district in the West Bengal state of India. Cooch Behar is the only city among the foothills of the Himalayas that was planned in the Northern part of West Bengal with a sense of royal heritage. It is also home to the famous Nripendra Narayan silver Nazarana 1/2 Rupee which was auctioned in 2016.

The famous 1/2 Rupee might have gotten auctioned, but Cooch Behar’s people still see and value silver as a lucrative investment option. Investing in Silver has become increasingly popular among people living in Cooch Behar over the years. This can be attributed to its general stability for long-term investments and suitable returns during market volatility. This makes it an attractive option for those seeking financial freedom or those with an investment appetite. This article explores the price of silver in Cooch Behar and whether it’s a viable option for investment or not.

Impact of GST on Silver Rate in Cooch Behar

Let’s understand the effect of GST on silver rates in Cooch Behar. Whenever a person wants to buy Silver in Cooch Behar, they need to legally pay for and fulfill the following:

• 10% customs duty
• 1 % excise duty
• 1.2% VAT
• and 3% GST along with 5% making charges

How is Purity of Silver Evaluated in Cooch Behar?

Most of the silver pieces — coins, jewellery, etc., are stamped with a number that represents its purity. You must know whether the pieces you hold are 999, 925, or 950. The numbers indicate the purity of the silver. For instance, 925 indicates that silver is 92.5% pure. This is a standard measurement procedure across the country, and the same is followed in Cooch Behar.

How to Buy Silver in Cooch Behar?

Investors in Cooch Behar can choose to purchase silver coins from a jewellery showroom or bank. Buying it from the bank might be a little more expensive as the bank charges investors for damage-proof packing and a purity assay certificate.

How To Buy Silver Bars?

Silver bars typically range from 500 gm to 1 kg. Keep in mind that you need to check the everyday prices to be able to make a lucrative investment that benefits you. If you are a serious investor and looking to buy more, the future exchange market would be a great idea. You’ll also need to pay several charges in form of brokerage, stamp duty, etc., associated with trading in the futures market.

Cooch Behar does not have any silver ETF (Exchange Traded Fund) at present. However, investors can opt for trading in Silver ETFs listed in the US market. All they need to do is open an account with a stockbroker that offers a platform for investing in international markets.

Paper Silver vs Physical Silver

The international silver price is derived from trading huge amounts of ‘paper silver.’ Physical silver is a scarce and valuable commodity that is an investment in precious metals as well as industrial precious metals. It is a tangible asset with intrinsic value. On the other hand, paper silver comprises securities and derivatives spanning unallocated, synthetic, and fractionally-backed claims that do not provide any ownership of real physical silver.

Investment Options For Silver In Cooch Behar

There are plenty of options available for investors looking to invest in silver ranging from short-term investments to physical assets that require safe storage solutions, such as bank lockers or safety deposit boxes for asset protection.

Investors can choose from different physical assets like coins and bars or short-term investments like Exchange Traded Funds (ETFs) and mutual funds for longer-term gains. Another crucial aspect of investing in silver is taxation. Investors need better awareness about taxes on their investments and they need to plan accordingly while investing in silver assets in Cooch Behar.

Demand for Silver In Cooch Behar And Factors Affecting It

Several factors influence the silver prices in Cooch Behar. The most important factor is the global political and economic situation. When the economy is stable, investors tend to prefer buying silver as an investment option due to its security. Apart from this, many other factors can affect silver rates, such as supply and demand, interest rates, and inflation.

Gold vs. Silver in Cooch Behar

Today’s Silver Rate in Cooch Behar: The price for a one-kilogram bar in Cooch Behar today (12th December 2022) stands at ₹ 72880.

People from all age groups and economic backgrounds can invest in Silver easily.

Besides that, it holds long-term value and fares well with low-interest rates. That’s why many people refer to silver investment as a “safe haven” for everyone. Besides, the import duties on Silver were also brought down to 7.5% for the economic year 2021-2022. This prompted the people of Cooch Behar to invest even more in Silver.