Posts Tagged Sell Gold

Is it legal to just fly in to Ghana and buy kilos of gold?

Question

We are miner’s agent and work directly with Ghana local miners to buy gold from them and
export to clients at a very good discount rate, without any intermediary involved.
We have the capacity to produce and gather 20-50kg of alluvial gold dust/gold bars every
month. We are now looking for only serious direct buyer who can travel to West Africa Ghana
to inspect and test products on FOB trade basis, are you a buyer or do you know any buyers to refer to us?

Answer


Here are some facts:

It takes a monumental effort to by gold where it is found – many hours down bad roads away from Accra.

Most miners sell their gold in either Tarkwa, Kumasi, Bibiani, or somewhere in between because Accra is HOURS away from where the mining occurs.

Even in remote areas there are gold buying offices paying no less than 5% below the world price.

There is no way you are buying gold at a discount big enough to take the time and go through the logistical hoops required to buy gold “in the bush” and then take it all the way to Accra to sell to foreign buyers – because there is simply too much competition and the price is too high for that to be profitable.

The only conclusion is that you are drawing in buyers that don’t understand all of what was just said in order to scam them in some way…

We are in no way “competitors” because we, just like everyone else that really has gold in Ghana, sell it to the closest legal buyer paying top dollar…. AND you failed to mention that it is ILLEGAL for foreigners to just fly in and by gold. You have to be licensed to do so!

See “buyers” with real money that don’t know the rules can come to Ghana and lose their money to scammers like you because you know that it is illegal for them to buy and have the gold on them. It is real easy to take both the gold and the money – all you have to do is pay off a few “professionals” and your scam is complete.

Refinery Account – Why don’t gold sellers just open one?

Question

Can you answer me a question?

Why don’t all these African mines large or small or companies in Africa selling gold just simply open a refinery account in say Dubai/Switzerland for themselves export their gold to the refinery by themselves and make more money than they would selling their gold directly to a 3rd party with all the hassle it does not make sense to me do you know the answer?

If I were them this is what I would do.

Answer

They either sell their gold locally (near where they mine) or do exactly what you suggested and sent it to a refinery themselves. It takes a serious amount of cash to set up a serious mining operation. Whomever lent or invested that  cash is the one controlling what happens with the gold, and trust me they are selling it for top dollar –  so would you.

The scammers try to get around this basic and reasonable concept by claiming the gold is an inheritance, belongs to the village or the came into the gold by some means other than actually mining it. This concept plays upon the greed in human nature allowing one to think “this is a real deal here” and that is exactly why the scams / scammers never stop. Sooner later someone will fall victim to their own greed and hand out upfront money for shipping or some other payment and lose it all.

 

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