Verification processes
Nothing is more important and at the same time difficult as the verification processes.
Buyers of gold from Ghana claim that 95-97% of the offers are fake. Ghane being the country with most fake offers. Sometimes you feel like being in the charity business. As a buyer you will be asked to pay for everything in the process and then pay by sending money through Western Union. You will be asked for paying for hospital bills, expensive telephone calls, travels, secure transport etc. The list can be as long as a day. The sellers are very clever in establishing all types of rules and business standards as YOU NEED GOLD.
Well, I do not need gold. I do not want gold. I have a wife that appreciates gold and diamonds, yes. But I do not need gold. I do not buy gold.
Then the easiest way to verify a seller is to ask them to open their own refinery account and give them the chance to sell at LBMA prices. Instead of getting 25000 USD per kilo they would get 40 000 USD per kilo refined gold before expenses.
I do not buy gold, thus any offer of buying gold at a cheap price is a no no. Why should I my business idea is NOT to buy and sell gold. My business idea is to give real miners the best I can give them. My full support to build their own wealth.
Allright, you do not want to buy gold, but how will we loose out on this. The clever person disregards that refineries are under strict control of the respective government authority. The clever person the asks for a bank guarantee from the refinery. Well first of all the refinery does also not buy or sell gold. At least not the ones I am cooperating with. They refine gold. That is what they do. They refine gold.
Well not only refine the gold. They also, in the case of the refinery in UAE, they also after having the required documents organizes the custom clearance, the secure transport to the refinery. They give the seller a chance to get a second opinion if the assay of the gold between the results of the seller’s and their own assay differs too much. Then they can if the owner of the gold so decides sell on commission the gold to buyers that they know very well.
If you then are a seller with a lot of bad experience you will say, what if they do not pay me. This is then if the goverment authorities have not done their job, if the refinery is about to close or if somebody at the refinery needs the money more than anybody else and that the insurance company does not accept the complaint thereafter. Then there is another solution in the pipeline for you as a seller.
I have a bank that buys and sells refined gold.
Now we are talking buying and selling gold bank to bank.
If you are a real gold seller you just must have a bank account and a relation to a bank and you have to convince your bank that you have gold to sell.
So which way you ever see it, it is the seller that will have to proof himself. Please be prepared for that. The verification process of gold and the seller is strict.
Do you think you would be able to pass the verification process and have gold to sell.
You are most welcome.
