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 Replies: 68 / Views: 12,037 |
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Pillar of the Community
Canada
586 Posts |
When I do it, I put the face value of the coins not the numismatic value or purchased value. The customs part of it become the issue of the buyer. Which he will have to pay on reception of the item.
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Pillar of the Community
Canada
821 Posts |
 It is legal to mark the face value, not the price you sold it for. You can mark " Canadian legal tender, Canadian numismatic items, Canadian coinage, face value $...". A 1948 silver dollar can be listed as $1.00 face value. Canadian coinage coming back into Canada is supposed to be duty-free. |
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Pillar of the Community
 United States
1949 Posts |
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I am shipping a coin to the U.S and would like to know how customs and duties are calculated for the buyer? Declare the amount the item sold for. Quote:
When I do it, I put the face value of the coins not the numismatic value or purchased value. The customs part of it become the issue of the buyer. Which he will have to pay on reception of the item. If you follow postal regs, actual sale price is what should be declared, not 'face value'... Also, U.S. buyers will not have to pay any customs fees on collectible coins, we are lucky here with that, other countries, especially the U.K., are quite enthusiastic with the collection of duties! |
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Valued Member
 Canada
142 Posts |
Hello, and thank you for your input. Maybe I should have been more specific but I don't think it will change the need to declare the sale price. I'm shipping a US coin from Canada to the US. The insurance needed to cover losses if need be would only be for 10¢ if I was to declare the face value. I think for lower priced coins that I would be willing to assume the risk for, I will keep that in mind. I wouldn't want to lose the money I would have to refund if it didn't make it there and if I understand correctly in the case of a claim the declaration form would be reviewed for the value of the reimbursement? But again, information gathered is all ambiguous to valuing an item that fluctuates in value. I really don't want to learn with trial and error especially with more money involved and appreciate the advice that is given. Fingers crossed this shipment goes off without any issues that would be from lack of experience and knowledge.
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Pillar of the Community
 Canada
5394 Posts |
Coins going to the US are free of any Customs charges. That said coins are declared under tariff
9705.00.00.60 for the value that the Item was sold for . No sense jacking around with such ambiguities as a metal disc or round planchet.
Or trying to sneak it through at face value or other such nonsense. Declare it properly or it is subject to seizure without right of recourse by the CBP , US Customs.
We have been doing this twice a week for the past three years, crossing the Canada USA border on foot and never have an issue. The US customs agents spot check a package or two once in awhile and that is pretty much it. Pretty good to deal with if you are straight up.
As to Canadian Coins being reimported to Canada not being subject to DUTIES , that part is true, but not the entire story. The coins are imported under tariff 9705.00.00.90 and are subject to GST , PST , or HST depending on the physical presence of the importers business or residence. Exceptions are .999 fine or better Silver Gold or Other Precious Metal Coins , sold in relation to their spot prices.
Edited by Pacificoin
04/04/2018 6:54 pm
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Bedrock of the Community
13014 Posts |
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No sense jacking around with such ambiguities as a metal disc or round planchet.
Or trying to sneak it through at face value or other such nonsense. Declare it properly or it is subject to seizure without right of recourse by the CBP , US Customs. This. |
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Pillar of the Community
Canada
2366 Posts |
.999 for silver but .995 for gold and platinum. Palladium is not HST-exempt.
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Pillar of the Community
Canada
2495 Posts |
I still maintain identifying the item as a 'metallic disc' not for purposes of evading Customs, but rather for eliminating the postal clerk with 'sticky fingers'.
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Replies: 68 / Views: 12,037 |
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Posted 04/04/2018 2:31 pm
