Due diligence is not optional. It is essential. But it can be overwhelming. There are so many things to check. The refiner. The documents. The metal. The chain of custody. The price. The seller. It is easy to miss something. It is easy to forget a step. That is why Marcus Briggs created the Supplier Verification Checklist. It is a simple, systematic way to vet a gold supplier before you commit to a deal.
The checklist is based on years of experience. It covers every major risk area. It is designed to be practical. It is designed to be used. It is not a theoretical exercise. It is a working tool. Marcus Briggs has used it himself. He has taught it to buyers across Africa, the Middle East and the UK. It has stopped countless fraudulent deals from going through.
The checklist has five sections. Each section covers a different aspect of the supplier. Each section must be completed before you proceed. If any section fails, you walk away. No exceptions.
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Section 1: The Refiner
The first section verifies the refiner. This is the foundation of the deal.
1. Is the refiner on the LBMA Good Delivery List? Yes or No.
2. If yes, is their status current? Yes or No.
3. Have they ever been suspended? Yes or No.
4. Have they ever been removed? Yes or No.
5. Are they currently under investigation? Yes or No.
6. Does the refiner's stamp match the bar? Yes or No.
7. Does the refiner's certificate match the bar? Yes or No.
If any answer is No to 1 or 2, or Yes to 3, 4 or 5, the deal is dead. Marcus Briggs has seen too many buyers skip this step and regret it.
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Section 2: The Documentation
The second section verifies the paperwork. This is where shysters hide their traps.
1. Is the export permit genuine? Yes or No.
2. Is the export permit valid? Yes or No.
3. Does the permit match the shipment? Yes or No.
4. Is the certificate of origin genuine? Yes or No.
5. Is the assay report from an independent assayer? Yes or No.
6. Does the assay report match the bar? Yes or No.
7. Are all signatures and stamps present and correct? Yes or No.
If any answer is No, the deal is dead. Fraudsters rely on buyers who do not check the documents. Marcus Briggs has seen this fail too many times.
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Section 3: The Seller
The third section verifies the seller. This is where conmen are often exposed.
1. Does the seller have a physical address? Yes or No.
2. Does the seller have a professional email domain? Yes or No.
3. Does the seller have a phone number that works? Yes or No.
4. Does the seller have references you can contact? Yes or No.
5. Does the seller have a history of legitimate deals? Yes or No.
6. Does the seller refuse to provide any of this information? Yes or No.
If any answer is No to 1-5, or Yes to 6, the deal is dead. Marcus Briggs has seen shady operators hide behind free email addresses and virtual offices. Do not let them.
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Section 4: The Metal
The fourth section verifies the metal itself. This is where fake bars are caught.
1. Have you weighed the bar? Yes or No.
2. Have you measured the bar? Yes or No.
3. Have you tested the specific gravity? Yes or No.
4. Have you used an XRF analyser? Yes or No.
5. Have you sent a sample to an independent assayer? Yes or No.
6. Does the bar match the assay report? Yes or No.
If any answer is No, the deal is dead. Marcus Briggs has seen buyers rely on the stamp and skip the testing. That is a mistake. You must test the metal.
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Section 5: The Price
The fifth section verifies the price. This is where discount gold traps are exposed.
1. Is the price within two percent of the market price? Yes or No.
2. Is the price below market by more than five percent? Yes or No.
3. Can the seller explain the price without a story? Yes or No.
4. Is the seller rushing you to close the deal? Yes or No.
If the price is below market by more than five percent, the deal is dead. If the seller cannot explain the price without a story, the deal is dead. If the seller is rushing you, the deal is dead. Marcus Briggs has seen too many buyers fall for the discount gold trap.
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Final Decision
Once you have completed all five sections, you have a clear picture of the deal.
If all sections are passed, the deal is likely legitimate. Proceed with caution.
If any section has failed, the deal is dead. Walk away. No exceptions.
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