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Ely
Ely, Attorney
Category: Business Law
Satisfied Customers: 100973
Experience:  Counselor at Law.
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I am looking into importing gold (small amount in raw form)

Customer Question

I am looking into importing gold (small amount in raw form) from a friend living in Africa into the US. Not sure what the proper procedure is to move forward.
JA: What state are you in? And have you consulted a local attorney?
Customer: GA. No, I have not reached out to a business attorney yet....
JA: Has anything been officially filed? If so, what?
Customer: No. This is my first step in ensuring I do things correctly...
JA: Anything else you want the lawyer to know before I connect you?
Customer: I have no idea.... I've never done this before. I don't think so at this point.
Submitted: 3 months ago.
Category: Business Law
Expert:  Barrister replied 3 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

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Is this friend someone you have personally met and engaged socially with?

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Or is this a remote friendship where you met the person on the internet?

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Have you been informed of any transfer fees, tariffs or shipping charges that need to be paid so that the gold can be exported?

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thanks

Barrister

Customer: replied 3 months ago.
We know James personally and have for many years. He lived in GA and also worked as a subcontractor for our business before returning to his country of birth. According to the US Customs site, there is no tax on fold. Since I want to unsure all forms and laws are above board, I reached out.
Expert:  Barrister replied 3 months ago.

Ok, I wanted to check on the situation and make sure that this wasn't one of the internet based scams that are so prevalent that try to fleece trusting people out of their money...

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I am going to opt out as this is something that you would need to just contact US Customs directly to find out if there are any restrictions on this type of importation.

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thanks

Barrister

Customer: replied 3 months ago.
Thank you!
Expert:  Ely replied 3 months ago.
Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.
First of all before I go further, I need to say that this may still be a scam. Scammers have been known to hack the social media and emails of friends and family, and claim to be in trouble abroad or to offer lucrative deals to people back home, who would be thinking that they are dealing with that person, when in reality it is the scammer.
YOU WANT TO BE SURE YOU ARE DEALING WITH THAT PERSON, AND NOT A SCAMMER PRETENDING TO BE THEM!.
First, under Ghana law, in order to ship gold out of Ghana, your friend has to have an agent who is licensed by the Precious Metals and Mining Commission. This commission takes care of the paperwork. A transaction without the commission is illegal. All such transactions must be completed through the commission at the price set by the London exchange. Because Ghana is RIPE with scams, your friend is better off using a real attorney in Ghana who can help him do all this.
On the US side, see here:
help.cbp.gov/app/answers/detail/a_id/322/~/importing-gold-coins,-medals,-and-bullion
"There is no duty on gold coins, medals or bullion but these items must be declared to a Customs and Border Protection (CBP) Officer. Please note a FinCEN 105 form must be completed at the time of entry for monetary instruments over $10,000. This includes currency, ie. gold coins, valued over $10,000. The FINCEN definition of currency: The coin and paper money of the United States or any other country that is (1) designated as legal tender and that (2) circulates and (3) is customarily accepted as a medium of exchange in the country of issuance."
I hope this helps and clarifies. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how experts get credit for our time. Rating my answer the bottom two faces/stars (or failing to submit the rating) does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith with a positive rating.
Expert:  Ely replied 3 months ago.
Hello again. This is a courtesy check in to see if you needed anything else in regards ***** ***** question because you never responded or replied positively. I am simply touching base. Let me know. Thanks!