How to buy Gold and avoid scams

All > Precious Metals > How to buy Gold and avoid scams

1 like

Please login to like this article.

How to buy Gold and avoid scams

We cannot look at how to buy Gold and avoid scams without telling you how it works. Our main focus will be the African Gold scam MINMIIDT-GOV.NET.

Giving you insight on how to successfully buy gold in Africa without getting scammed. Scammers claiming to sell Gold in Africa have been around for decades and sometimes it beats us how people still fall for it.

CEMAC BUYER?S EXIT PERMIT APPLICATION FORM

These individuals target innocent individuals looking to invest in either gold mining or buy gold directly. It is very common hence we are ready to tell you how to avoid it. We can do this through reviews and encounters with some of these vendors. There are times we contact them just to know how they operate and if they have come up with new strategies.

We will be looking at how to buy gold and avoid scams under the following headings;

How the scam works
Victims of the Gold Scam
How to spot a scam
What to do if you have been scammed

How the buy gold scam works: How to buy Gold and avoid scams

First you go online looking to buy gold and stumble on fraudsters posing as legitimate gold traders. What they use to attract you is their low prices. If they are selling they sell very low and if they are buying will buy at a very high price above market value. Because you are in Europe buying in Africa, they usually ask for an advance fee. This system was a little bit slow since no one was willing to pay in advance hence the scammers came up with another idea which is the Buyers Permit.

In this scam, you get the buyer?s Permit from the Ministry of Mines which will be used to ship the gold. The scammers claim they cannot sell out of the country without this permit. Once you get the permit, they ask for a delivery fee, and after that continue to ask for more money until you can?t give any more. This type of scam is mostly common in Cameroon.

Others will invite you to their country, show you real samples and after you pay disappear with no trace. This is mostly common in East Africa precisely Kenya.

Victims of the Gold Scam

Anyone can be a victim of the buy gold scam hence you shouldn?t be too hard on yourself. However, you can easily spot these scams if you are not blown away by the idea of making too much profit. The scammers target unsuspecting people who could be individuals or even big corporations looking to invest in Gold.

You find them online looking for people who want to make money fast. People with very little knowledge of the gold market and how it functions.

How to spot a gold scam

Whether you are looking to buy gold dore bars, bullion, or coins, there?s always a chance the person you are talking to is a scammer. This is why you have to be very careful and vigilant. If something is too good to be true then it is probably a scam and we say this with regards to the price. Sometimes scammers sell a kilogram of gold for as low as $17,000. This always attracts unsuspecting buyers who end up losing money.

Another thing to spot is the Buyers Permit. Scammers will send you to a fake Ministry of Mines Website that sells a Buyers Permit. These websites will verify their existence and tell you to go ahead with the transaction. Be careful for there?s nothing like a Buyers Permit. You do not need a permit to buy gold from any part of the world. Always check the reference websites they give you for most are fake. They clone the websites of the real institution and use them to verify their legitimacy.

If you notice any of the above, then stop all communications with them immediately. Do not end there, report them to us, and share their emails, phone numbers,s and other info so others won't fall victim.

What to do if you have been scammed

If you were scammed trying to buy gold from Africa there are things you can do to get back part of your money. The first of which is to report to the authorities or your Embassy in the country you were scammed. They will easily know where to report the case and have the scammers arrested.

The scammers will try to convince you there?s nothing you can do Some will even threaten to arrest or kidnap but stay steadfast and report to the authorities. You can also contact us if you do not know what to do. Simply send us their information and we will do the rest all free.