The 5 important things to know when buying gold from Africa

Buying African gold is easy if you understand the 5 important things that I will spell/explain in this article.

Gold is a highly sought-after commodity and to buy from the source is to get the best deal. The five very important things to know about buying gold from Africa are spelled below herein.

1. Buying African gold – Consider Cash and Carry or FOB

Gold in Africa is widely available and at times in very large quantities, however, the difficulties with making successful deals is that the western buyers (the majority) tend to insist on certain methods of selling/buying that are absolutely not suited to the African environment.

To buy gold successfully, consider doing a cash and carry or FOB. Cash & carry are legal for over 50 kilograms and also is much cheaper.

2. Buyers, avoid being disrespectful and arrogant

Buying African gold can be a breeze if there’s mutual respect. Most buyers come with the mentality of a boss and that kind of negative demeaning regard for Africans and that ends up at almost 100% failure rate in reaching a deal.

Be a gentleman or a lady if you want to do a good deal. Remember that most things you probably know about Africans are what’s sold to you on TV and the reality may be quite different.

You will find very knowledgeable people in this field here in Africa and you may actually learn a lot from them. So please come with humility and let’s both win.

3. CIF and the bring it here and I pay you cash narrative

Let’s face it. Most gold sellers in Africa have their gold kept by security companies for obvious reasons and to get that gold out means some processes have to be followed which is normal.

However, to tell a seller to bring the gold to India, the US or Europe or Hong Kong is unimaginable if you are not going to put in anything like taxes, transport, and other smaller payments that show the type of commitments real gold buyers show.

The truth is an agent of the seller can carry the gold to where you are but don’t you see a problem in security especially for ‘buyers’ who do not want to make any form of financial commitments?

So if you are thinking of buying African gold that way, have in place money for taxes, insurance, transport fare and book an hotel for the agent – that’s not because the agent can’t afford those things (duh! He deals in gold!) but it’s a way of proving you are committed and is a real gold buyer to some extent.

There are many fake buyers who rob sellers of their commodity so bear that in mind.

4. Suspicion Suspicion Suspicion

Many gold buyers, especially from India, the UK, and Italy, are always weary of gold sellers in Africa.

They put their suspicions first before anything else and the suspicion is normally based on such things as what they read somewhere or what they heard somewhere.

Please, put aside the suspicion by doing something pragmatic about it. The example is, travel without money and come to Africa and inspect the gold and diamonds in many cases and get to know the seller at a personal level. This is a gold business, not some vegetable market bargain.

5. Papers Papers Papers and track record

98% of sellers will not produce to any buyer core paperwork for many reasons and most of the reasons have something to do with security.

There are groups whose work is to target gold sellers in Africa and accuse them of all sorts of things – they connive with those in positions of power and plant even drugs on you if they get hold of you and that will get you in jail if you don’t give them the gold or the money.

This is a serious issue and that is one and the most important reasons why sellers do not divulge crucial company information to sellers.

Advice is, come to Africa and know the seller at a personal level – many Africans in this business are traveled people and are very nice. Simply come and let’s do a long lasting business together.

Buying African gold is easy if you know how, make contact with us through this link and let’s hit it off.