I have questions on selling Dore...Can anyone help?

[thegoldcoinguy]

We have a supplier of dore ready to sell to us. I am wondering if the selling or buying of dore is subject to the same rules as regular bullion, or is it considered a "unrefined raw material". Please forgive my ignorance in this, but I could use some input. As this is over 100 kilos I want to move slowly before I run. Any input or legal docs anyone can refer me to would be greatly appreciated.

thanks all in advance

Schaun

 

[4metals]

When a supplier of dore goes to a middleman instead of a refiner red flags go up. The best rates always come from the refiners but you need quantity to get those rates. If you sell to a refiner, you will wait for them to melt and assay the material. They often advance on the material up to 90% but only with customers they have a relationship with. There is a reason for this, and you should follow the same protocol.

When you buy dore always melt it and always assay the material, then you know what you are dealing with. Any other arrangement is a risk.

 

[nickvc]

Excellent advice from 4metals..

Or to put it bluntly....... lose the deal rather than lose everything!

 

[greatgems]

Please dont get into the dore game unless your one of the worlds best testers of gold. I was one of the first people in the world to start buying gemstones and diamonds from Cameroon even then the prices where still pricey for gold and the risk was to much. Please please unless you understand STAND BYE LETTERS OF CREDIT. Delivery terms tax law in your country and to african nations dont do it 99.99 are fake .01 percent that are real are insanely tricky deals. I have had African sellers and even EU based firms try to steal and or try to draw down 30 million dollars letters of credit they are good theifs you have to be amazing at wording and text for these instruments if you dont understand what im talking about dont get into gold dore what so ever i promise you will loose a fortune and if your stuborn like i was thinking everyone just keeping it to them i will save you a fortune send me the suppliers name company name threw my black list and save you the time. I have found only 5 real suppliers in 5 years of searching and the smallest deal i could run was 100 kilos a month which required enormious financing. Insane bank instruments high costs even with a 13% discount after shipping paying for an SBLC and assay cost of 1-2 percent your left with maybe 6% there are far far better and safer deals. Any deal with a discount higher is a huge risk deal