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Exorbitant Brokerage Fees Us To Canada...

 
 
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Valued Member
Canada
282 Posts
 Posted 03/12/2018  3:01 pm Show Profile   Bookmark this topic Add vonigohcr to your friends list Get a Link to this Message
Not sure if this is the correct forum, it could be posted to a Canadian forum however this was related to a bullion purchase so...

I am based in Canada and purchased a quantity of silver coins from a variety of mints from APMEX in the US. The coins received were in great shape, well packaged and the price was competitive. All in all, I was happy and would recommend APMEX... except for their choice of carrier. UPS...

All of the coins purchased were .999 fine silver or better so they qualify for investment grade and as such are duty and tax free in Canada. I also purchased 10 air-tite capsules which were not tax free.

To make a long story short. Air-tites cost = $22.93 GST = $1.15, PST = $1.61, Duty = $0. I can handle $2.76 in tax. The total bill for UPS was $34.79.

Bond fees, Tariff line Fees Processing Fees and then tax on the fees added up to $32.03.

To add insult to injury... the UPS fee was charged COD by the delivery agent and processed through my Visa card in February. Today (March 12) I received a invoice with a due date of tomorrow; it is not credible that the invoice was sent before payment was received as that would suggest the invoice spent over a month in the hands of Canada Post. The invoice also did not reflect payment made but suggested that late payment fees would be due after tomorrow. This is a shoddy practice that is at best corporate incompetence and at worst...

This is not the first time I have had issues with UPS. I strongly recommend that if you are looking to ship transborder, you request USPS or even Fedex as experience has shown they are less likely to gouge you.

Has anybody else experienced this from UPS?
Valued Member
Canada
377 Posts
 Posted 03/12/2018  4:49 pm  Show Profile   Bookmark this reply Add Dennman to your friends list Get a Link to this Reply
Not with coins but with a gift of motorcycle parts from Detroit.
UPS wouldn't take cash at the door for the $45 brokerage fees.
I went to their office and they wouldn't accept the use of my debit card.
I had to go to a bank of Montreal (only one UPS would recognize) for a money order.Another charge for that.
Now it's USPS for me or I don't purchase the item.
Pillar of the Community
Canada
4266 Posts
 Posted 03/12/2018  4:54 pm  Show Profile   Bookmark this reply Add john100 to your friends list Get a Link to this Reply
Most FedEx and UPS charge a 25.00 or more brokerage fees
Pillar of the Community
Canada
2974 Posts
 Posted 03/12/2018  5:13 pm  Show Profile   Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Insist on using USPS Only. The rest of them just hammer you!
Valued Member
Canada
282 Posts
 Posted 03/12/2018  6:00 pm  Show Profile   Bookmark this reply Add vonigohcr to your friends list Get a Link to this Reply
@John100

Thanks for the heads up on FedEx. My experience with them is not recent and the last time, it was fairly painless. I usually request USPS but will narrow down to USPS only in the future.
Valued Member
Canada
175 Posts
 Posted 03/14/2018  12:45 pm  Show Profile   Bookmark this reply Add thehulk to your friends list Get a Link to this Reply
I've been tempted to order from APMEX in the past, but as a Canadian I don't want to bother with all the cross border hassles. But UPS is terrible even for domestic only shipments. I use Canada Post whenever possible. If I'm not home, I can pick up the package from a local pickup place. If it's a UPS or FedEx shipment, I need to go by the airport to their depot to pick up packages, that's about an hour and a half round trip from my place.
Pillar of the Community
Canada
517 Posts
 Posted 03/14/2018  4:16 pm  Show Profile   Bookmark this reply Add TheBurnz to your friends list Get a Link to this Reply
Yuppers! I got a Christmas gift, a CC Morgan coin from APMEX. The cost should have been around $200 to $250, but after shipping and duties ect.. it came out to over $500. This has led me to skip any coin or paper money purchases in the US. I stick to the Canadian market. There is just to much uncertainty and cost can not be calculated ahead of time.
Valued Member
Canada
282 Posts
 Posted 04/04/2019  3:29 pm  Show Profile   Bookmark this reply Add vonigohcr to your friends list Get a Link to this Reply
Bumping this thread because it happened again.

A shipment from the US to Canada of .999 Silver coins was hit with brokerage fees. I purchased from APMEX and despite numerous requests to use USPS they have reverted to UPS. UPS just sent me an invoice for $18.90 CDN for brokerage fees. This time, they got the duty & tax payable on the shipment correct at $0. There was no need to broker this shipment... it was not subject to taxes or duties... as was evidenced by the fact that there were no taxes or duties on the invoice.

Now $18.90 is not the largest invoice I have ever received but it galls to be asked to pay for something that was not asked for nor was it necessary... It is like buying a carton of milk at the store and being hit with a fee for shoe cleaning because you wiped your feet on the rubber mat when you walked into the store. I paid for shipping at point of purchase through APMEX in full awareness of the duty and tax rates. USPS (Canada Post) do not charge when the duty rate is zero so why UPS...

I don't live close enough to the border for a US based personal mailbox to be cost effective... An open question to Canadian purchasers... From whom do you purchase World Bullion? I can get Maples, ASEs, Kangaroos, and occasionally Kooks & Pandas but online retailers such as AMPEX have a great variety of bullion from the UK, South Africa and Africa in general, the Caribbean, Asia... I am building a collection of world silver and gold and I am done with the likes of UPS. My "go to" Canadian vendors (local and online) are either focused on bullion stacking clients, in which case maples are cheapest and most available, or they carry limited and quickly sold out stock of world silver and rarity premiums start applying that just don't exist in the US.

Oh and it is not just the brokerage fee... UPS also left a door sticker but forgot to knock first to see if anyone was home... I was... so it took a second visit for the package to be delivered.

My experience with UPS is consistently poor.

Any options within Canada would be appreciated.
New Member
Canada
48 Posts
 Posted 04/04/2019  11:01 pm  Show Profile   Bookmark this reply Add sbr to your friends list Get a Link to this Reply
I know your problem I used to live on the border and maintained a US post office box and ordered a lot of unique coins from APMEX .Since then I have moved up north and and really miss using APMEX as well as ordering from Amazon.com. If I am really stumped on finding hard to get gold coins I will try phoning J and M coins in Vancouver and sometimes they have what I am looking for.I really miss APMEX and wish you luck.
Pillar of the Community
Canada
517 Posts
 Posted 04/12/2019  08:39 am  Show Profile   Bookmark this reply Add TheBurnz to your friends list Get a Link to this Reply
I know Amex probably has a bigger reach and market share and has a crazy inventory, but Canada has similar platforms. I just did a quick google search and found this site.

https://www.silvergoldbull.ca

Never bought from them, but look promising.
Valued Member
Canada
175 Posts
 Posted 04/12/2019  3:42 pm  Show Profile   Bookmark this reply Add thehulk to your friends list Get a Link to this Reply
I've made 3 or 4 purchases from SilverGoldBull.ca, never had any issues. $20 shipping fee means you aren't going to place an order with them for just a few coins, I only buy from them if there's at least 5+ coins I want. Selection is good as well and seems to be improving all the time. One thing SilverGoldBull just added, which APMEX always had and I've been waiting for, is old European and US gold coins.

I've also placed orders with European sellers (such as aurinum.de) and have never been hit with brokerage fees. Maybe I've just been lucky? We definitely don't get the same selection and service in Canada but that goes for most products, not just precious metals...
New Member
Canada
48 Posts
 Posted 04/15/2019  08:01 am  Show Profile   Bookmark this reply Add sbr to your friends list Get a Link to this Reply
SilverGoldBull has a pretty good selection ,I will probably order from them,I really liked the selection of older gold, thanks for finding.
Valued Member
Canada
282 Posts
 Posted 04/15/2019  11:02 pm  Show Profile   Bookmark this reply Add vonigohcr to your friends list Get a Link to this Reply
@thehulk

Thanks for this. Their selection is not yet as broad as APMEX but it is quite a bit broader than when I last looked over a year ago.

I will definitely try this vendor.
Pillar of the Community
Learn More...
United States
3177 Posts
 Posted 04/16/2019  1:19 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
A customs broker takes on significant risk and liabilities - large bond $ are required for the company and employees. Any screw up and the government issues large fines. The pricing, esp. the minimum fee reflect those costs.
-----Burton
45 year / Life ANA member (joined 12/1/1973)
Owned by four cats and a wife of 35 years (joined 1983)
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