| Author |
 Replies: 9 / Views: 2,755 |
|
|
Valued Member
Canada
96 Posts |
Just looking for feedback regarding the fees that could be expected from any Canadians that have bought coins from dealers or auctions that are based in the US.
My limited knowledge says I should expect to pay HST on any gold or silver coin that is less than 0.995 pure, as well as 2-3% on that nasty currency exchange. However, brokerage fees and any other import fees are a really fuzzy area and there doesn't seem to be any clear information on this.
As an example, I am particularly interesting in buying silver or gold coins in the $100 to $2000 range, but I am paranoid the import and brokerage fees will turn a good deal into a bad deal.
All the auction sites in the US that I have looked up pretty much say, "We're not responsible for import fees, duties and brokerage costs", but do not even give a hint of what to expect.
|
|
|
|
Valued Member
 Canada
96 Posts |
|
|
Pillar of the Community
Canada
1527 Posts |
I just got a Silver Medal from the US Mint today. Value for duty was listed as $129.82 and then I was charged $16.88 HST and $11.30 for brokerage.
Any Auctions I've won from Great Collections Come up here with no tax or brokerage because they list the Item(s) as Numismatic study tool and the Value they put on it is never more than $25.00.
Anything above $25 in value starts getting taxed and brokered.
Edited by GMS5
01/07/2020 4:18 pm
|
|
Pillar of the Community
 Canada
5393 Posts |
Get your items shipped USPS ONLY ! Do not use Fedex
UPS or DHL or any courier service .
This way Canada Post looks after the delivery and collection
Of any import fees . Coins are subject to GST, HST and any
PST . US export code on coins to international destinations
Is 9705.00.00.60 , in Canada coins are 9705.00.00.90 .
|
|
Pillar of the Community
Canada
5239 Posts |
As @pacificcoin points out, the shipping method is the key to avoid brokerage and import fees.
I have received many packages from the US sent via USPS that have never attracted any fees whatsoever.
However, the sender may be reluctant to use USPS.
|
|
Valued Member
Canada
96 Posts |
Doesn't USPS have tracking to keep the seller protected from "I didn't receive my item" scammers?
|
|
Bedrock of the Community
13014 Posts |
Quote:
Doesn't USPS have tracking to keep the seller protected from "I didn't receive my item" scammers? Depends on the country and how it was shipped but for Canada generally yes they do. There's really no reason a US seller should be hesitant to use USPS for Canada. |
|
Pillar of the Community
Canada
999 Posts |
I have bought items from an ebay seller in the US who uses USPS. They provide tracking. So far it has worked well without any hassle. The seller has declared values between $50-100 US on the customs form. I have not had to pay additional fees. That's one reason I like ebay, as I know the shipping fee upfront. I was looking at an item on Heritage Auctions and I had no idea what it would cost to ship. I called them up and they said at least $45, which makes it prohibitive on lower value items. |
|
Valued Member
Canada
96 Posts |
Heritage Auctions is awful. I bought some coins there that were from Neil Armstrong's collection. I had to pay some duty to UPS before they would deliver it, and shipping cost was well over $50. They sat on the items for over a month before shipping it. Many years ago I bought a framed picture signed by an astronaut who landed on the moon. Cost was $150, and they wanted to ship it through DHL for just over $100! Seriously, who uses DHL? Luckily got them to ship it USPS after I told them,"Why would I pay $100 shipping for $150 item?" You have to wonder if ebay's days are numbered; I can only see shipping costs going up year after year. (Ignoring sellers that inflate shipping costs as a way to ensure no one wins a coin auction for below melt value) |
|
Pillar of the Community
Canada
5393 Posts |
Ebays days are hardly numbered . If anything ebay or a platform that is similar is going to attract more and more buyers. Auction houses Charge massive shipping fees and the BP for some are now 24% ! Also as stated the service level for shipping time and charges from some of them is horrid! From the time we started selling on ebay in 2001 until present , it has been a pretty decent way to do Business . We ship exclusively via USPS to our customers in the USA and in Canada we use Canadapost. Most economic and efficient . |
| |
Replies: 9 / Views: 2,755 |
|
Posted 01/07/2020 4:16 pm
