Anyone watching this YT should not presume that every transit of precious metals will follow this scenario exactly. Customs agents are human beings and you never know when one of them may be having an off day. Also be aware that different countries may have entirely different procedures and rules. Also of note, in the US, you can request to have your bags inspected in a private room so the entire world is not watching your flashy coins being flaunted about. It can be a hazard if someone marks you and follows you to a less secure area.
Coins should be declared for the face value of the coin itself - for example a 1 ounce COIN with a face value of $50 - is declared at a value of $50 and NOT the spot price - the US only sees a coin at face value - regardless of what it is made of. Silver and gold rounds - different story but coins only should be dealt with at the face value of the coin.
@@thegoldstandard721That is interesting. As a former customs officer years ago I believe this to be a grey area. I certainly wouldn't expect anyone to declare a $100 bill by the value of its paper, so why a coin by the value of its metal? Doing so would certainly be a double standard. It would be be interesting to see the actual law, not just some guy's arbitrary call because dude's got a badge.
@t28001 Great point!!! In the U.S., if you walk into a Walmart for example, with $5 in constitutional silver quarters, you can't tell the cashier it's worth $40-$50 in silver value; Walmart would only recognize it as $5 FACE VALUE.
Good luck to you on your endevours in the US! Hope you like it there and that you'd find your place. Good thing you declared the coins based on market value, technically you could declare them by face value, but they might give you a hard time. Knowing the judicial nightmare that exists in the US I would'nt risk it. Personally will probably never travel on my own will there, but hope you'd enjoy it. Regards from Norway
My story is a little different. I flew from Amsterdam through Chicago probably 20 years ago with two antique candlesticks that at that time were valued at about $5000. I had a receipt from the antique store and a letter of provenance that stated clearly that these were antiques and had been made in the 1850s in Russia. Luckily the customs agent was extremely well versed in antique candlesticks and told me I owed $800 in import duties because these were not antiques in her estimation. who knew that some woman working for Customs in the Chicago airport was an expert in antique candlesticks. Apparently I should’ve had her with me in Amsterdam when I made the purchase.
When its lost or stolen, what do you want it to be considered when it comes down to insurance? 50 pounds or 1 oz of gold? Your choice is what you declare.
Difficult to tell exactly, but looked like you were holding Britannia coins, which is a sovereign coin, yes? It is my understanding the FACE value on the coin is what you consider, rather than the WEIGHT value as in a bar with no denomination. So your face value would be far less than 10k. Furthermore, it is also my understanding there is no duty because it is money. Am I correct?
Britannia's and gold sovereigns are most definitely classed as real money, but the value of the metal far exceeds the monetary value, so you would never use it that way. We really need to go back to the gold standard and have Gold repriced so everything realigns.
I'm under the impression that hold is valued at the price when Nixon took the dollar of the gold standard, I believe around $40+ per Oz, the US Fed I believe has their gold valued at that price not today's spot price.
@@fu4616 Rather than market pricing which fluctuates daily, the New York Fed uses the United States official book value of $42.2222 per troy ounce for gold holdings. The vault is safeguarded by a comprehensive multilayered security system, highlighted by a 90-ton steel cylinder protecting the only entry into the vault.
Rather than market pricing which fluctuates daily, the New York Fed uses the United States official book value of $42.2222 per troy ounce for gold holdings. The vault is safeguarded by a comprehensive multilayered security system, highlighted by a 90-ton steel cylinder protecting the only entry into the vault.
Did you bring up Spot Price as the Coin's values? As opposed to the Minted Value on the coin? Or was Spot Price brought up by the Security Inspector? The TSO in the USA. I'm going out on a limb and guessing that most USA airport TSOs or TSA managers do NOT receive any training about precious metals values. Please comment if you know for certain that I am wrong about Zero PM value training. Bringing in a lot of 10 or 100 Troy Ounce or Kilo Gold or Silver Bars would probably arouse suspicions of even the most laid back (or lax) TS Officer. He would make a phone call for sure. Regardless of the legality. I suspect most people would want to avoid that. Nobody wants management involved in anything. Ever. Is it true that these Sovereign Coins must be declared for International Travel. From Great Britain to the USA or vice versa? And that they will/may be confiscated if this is not done. TSO and TSA are Transportation Security Officers and TSA is the Transportation Security Administration. TSOs do hard and often boring or repetitive work for the TSA. The job is often not what they had planned for their life. Especially with that expensive 18th Century French Literature BA degree. C'est la Vie.
IF it was US coin and the face value was 1 dollar then you can take 9.999 of those of 1 dollar each , right? i usually take a few coins with me to europe , i keep them inside my change purse in my personal shoulder bag . lol. they put your life in danger if others were to see what you had in your bag !
amazing that on the last domestic flight they tried to grab it. makes you wonder. I wonder if the spot prices went up on that day and the total was 10,000.001. They could not grab it because they are numismatic with a country currency value printed on it.
The government can’t use the spot price of something this was completely wrong . If you had not declared it, you would not have been violating any laws.
Did you have to pay any taxes on the gold and silver? Im looking to get a few 1oz silver bars as gifts (around $200 dollars worth), do you have to declare small amounts? Im a bit confused on how much you can travel with from usa to uk too.
if i was going to visa visit or expat to the UK, do they tax or confiscate my silvers over a certain amount? or can I bring my collection to use for emergency expenses?
Very important to check BOTH countries! Where I live outside of the USA they wanted a 30% tax on my gold and silver at spot price, ($8,000 total spot value) where as the USA said no problem, enjoy the flight. I didn't take the coins. I'm not paying a 30% tax for a personal coin collection, 80% of which was USA monetized coins and monetized value about $600..
The coins are clearly marked with official value you have $439. Imagine how many people would need to fill out form for declaring $1000 in cash, everyone.
Can anyone tell me where i can find the info about how anything under 10,000 does not need to be declared when flying. Im getting differing information about whether or not you have to declare and pay taxes /vat when bringing silver into the uk. It for a small amount, around 6 - 1 oz silver bars from the usa into the uk or not. Thanks.
Hi, thanks for replying. I have looked at it but there is nothing about silver so i'm still unsure as others say I have to declare any silver bars and maybe pay tax/vat on it coming into the uk.
Ok thanks, il take another look, but I don't have to declare anything if it's only a few hundred dollars right or pay the 20% vat on returning to UK? Sorry for all the questions.
Anyone have experience traveling to SE Asia with PM? Im moving to Philippines next year and am trying to figure out the best way to get my stack with me..
A lot or work to bring in gold and silver. Why bother? You can't sell it for more here can you? Don't you pay a vat tax in London? Wouldn't you be better off buying in Us and bringing them to london to save that?
5:00 How is it the business of security screening to inspect money that you're bringing with you? That is obvious mission creep. Nothing about money would bring down an airplane and nobody planning to bring down an airplane would bring valuables with them.
The government can’t use the spot price of something this was completely wrong . If you had not declared it, you would not have been violating any laws.
Anyone watching this YT should not presume that every transit of precious metals will follow this scenario exactly. Customs agents are human beings and you never know when one of them may be having an off day. Also be aware that different countries may have entirely different procedures and rules. Also of note, in the US, you can request to have your bags inspected in a private room so the entire world is not watching your flashy coins being flaunted about. It can be a hazard if someone marks you and follows you to a less secure area.
I was always curious about the process, thanks for the update.
Interesting story. The only question I have is why in the hell would you go to Atlanta! It's a hell-hole!
You can request a private screening at TSA. In fact I'd recommend that the next time.
Thank you for sharing your experience, appreciate it.
Coins should be declared for the face value of the coin itself - for example a 1 ounce COIN with a face value of $50 - is declared at a value of $50 and NOT the spot price - the US only sees a coin at face value - regardless of what it is made of. Silver and gold rounds - different story but coins only should be dealt with at the face value of the coin.
The CBP Officer said that they go by the maximum value, the spot price
@@thegoldstandard721That is interesting. As a former customs officer years ago I believe this to be a grey area. I certainly wouldn't expect anyone to declare a $100 bill by the value of its paper, so why a coin by the value of its metal? Doing so would certainly be a double standard. It would be be interesting to see the actual law, not just some guy's arbitrary call because dude's got a badge.
They will charg you if they notice its what every one has to pay tax cost what holds it up ...
So you could have driven to Georgia though.
@t28001 Great point!!! In the U.S., if you walk into a Walmart for example, with $5 in constitutional silver quarters, you can't tell the cashier it's worth $40-$50 in silver value; Walmart would only recognize it as $5 FACE VALUE.
Good luck to you on your endevours in the US! Hope you like it there and that you'd find your place.
Good thing you declared the coins based on market value, technically you could declare them by face value, but they might give you a hard time. Knowing the judicial nightmare that exists in the US I would'nt risk it. Personally will probably never travel on my own will there, but hope you'd enjoy it.
Regards from Norway
Thank you so much!
Thanks for the video......
My story is a little different. I flew from Amsterdam through Chicago probably 20 years ago with two antique candlesticks that at that time were valued at about $5000. I had a receipt from the antique store and a letter of provenance that stated clearly that these were antiques and had been made in the 1850s in Russia. Luckily the customs agent was extremely well versed in antique candlesticks and told me I owed $800 in import duties because these were not antiques in her estimation. who knew that some woman working for Customs in the Chicago airport was an expert in antique candlesticks. Apparently I should’ve had her with me in Amsterdam when I made the purchase.
When its lost or stolen, what do you want it to be considered when it comes down to insurance? 50 pounds or 1 oz of gold? Your choice is what you declare.
8:26 very interesting thank you. Funny that you can take unlimited Bitcoin anywhere on just on your phone🤔
Interesting mate good video 🧲⚓️👍
Difficult to tell exactly, but looked like you were holding Britannia coins, which is a sovereign coin, yes?
It is my understanding the FACE value on the coin is what you consider, rather than the WEIGHT value as in a bar with no denomination. So your face value would be far less than 10k. Furthermore, it is also my understanding there is no duty because it is money.
Am I correct?
I would think if he had to pay tax, he would have mentioned it.
I grew up in Atlanta. I hope you had a good experience while you were there. Thank you for sharing about traveling with gold and silver.
GREAT VIDEO AND INFORMATIONAL
👍
Intresting. Great video😊
Interesting experience
From my understanding gold and silver are not monetary units just like jewelry so they is no limit you can take but you should declare it ...
Britannia's and gold sovereigns are most definitely classed as real money, but the value of the metal far exceeds the monetary value, so you would never use it that way. We really need to go back to the gold standard and have Gold repriced so everything realigns.
Very interesting that they were certified with the spot price of the metals. Thanks for sharing
Nice collection and great investment
Thank you
I'm under the impression that hold is valued at the price when Nixon took the dollar of the gold standard, I believe around $40+ per Oz, the US Fed I believe has their gold valued at that price not today's spot price.
You would be wrong in that thinking.
@@fu4616 Rather than market pricing which fluctuates daily, the New York Fed uses the United States official book value of $42.2222 per troy ounce for gold holdings. The vault is safeguarded by a comprehensive multilayered security system, highlighted by a 90-ton steel cylinder protecting the only entry into the vault.
Rather than market pricing which fluctuates daily, the New York Fed uses the United States official book value of $42.2222 per troy ounce for gold holdings. The vault is safeguarded by a comprehensive multilayered security system, highlighted by a 90-ton steel cylinder protecting the only entry into the vault.
Thanks for the details!!!
Did you bring up Spot Price as the Coin's values? As opposed to the Minted Value on the coin?
Or was Spot Price brought up by the Security Inspector? The TSO in the USA.
I'm going out on a limb and guessing that most USA airport TSOs or TSA managers do NOT receive any training about precious metals values.
Please comment if you know for certain that I am wrong about Zero PM value training.
Bringing in a lot of 10 or 100 Troy Ounce or Kilo Gold or Silver Bars would probably arouse suspicions of even the most laid back (or lax) TS Officer. He would make a phone call for sure.
Regardless of the legality. I suspect most people would want to avoid that.
Nobody wants management involved in anything. Ever.
Is it true that these Sovereign Coins must be declared for International Travel.
From Great Britain to the USA or vice versa?
And that they will/may be confiscated if this is not done.
TSO and TSA are Transportation Security Officers and TSA is the Transportation Security Administration.
TSOs do hard and often boring or repetitive work for the TSA.
The job is often not what they had planned for their life.
Especially with that expensive 18th Century French Literature BA degree.
C'est la Vie.
IF it was US coin and the face value was 1 dollar then you can take 9.999 of those of 1 dollar each , right? i usually take a few coins with me to europe , i keep them inside my change purse in my personal shoulder bag . lol. they put your life in danger if others were to see what you had in your bag !
amazing that on the last domestic flight they tried to grab it. makes you wonder. I wonder if the spot prices went up on that day and the total was 10,000.001. They could not grab it because they are numismatic with a country currency value printed on it.
Interesting story...usually TSA takes what they want.
I've traveled with gold ASE's before and I would carry loose coins in my pocket wich the gold mixed in and TSA was none wiser.
The government can’t use the spot price of something this was completely wrong . If you had not declared it, you would not have been violating any laws.
Tell Robert Kahre that.
www.justice.gov/archive/usao/nv/news/2009/11162009.html
Did you keep your gold in the capsules when going through security?
Yes, I did. In capsules, in tubes.
Did you have to pay any taxes on the gold and silver? Im looking to get a few 1oz silver bars as gifts (around $200 dollars worth), do you have to declare small amounts? Im a bit confused on how much you can travel with from usa to uk too.
Anything below $10,000 does not have to be declared, there's no taxes either
if i was going to visa visit or expat to the UK, do they tax or confiscate my silvers over a certain amount? or can I bring my collection to use for emergency expenses?
Should have done melt price..
Lets buy some more fisikol gold and silver coman cowboy 👏👍
Very important to check BOTH countries! Where I live outside of the USA they wanted a 30% tax on my gold and silver at spot price, ($8,000 total spot value) where as the USA said no problem, enjoy the flight. I didn't take the coins. I'm not paying a 30% tax for a personal coin collection, 80% of which was USA monetized coins and monetized value about $600..
soon 1 coin could exceed the eternal limit. confiscation of your possessions? is that why some now wear it in jewelry form for personal use?
🤯 thank you for the information.
By my math, that was more than $10,000. Thrilled to see someone doing this successfully. I want to move some to S. America but am afraid to.
In the meantime everyone can see what you have! They could be waiting for you round the corner due to these nosy bastards.
Actually the only value you need to declare is the Face value
Are you moving to the USA? Is that why you were traveling with that much gold and silver?
I may have missed that bit in the video. LOL
No worries, thanks for watching WMW! I did mention it in previous videos for about a year
What kills me is that the face value is not accepted as well. Meaning you could have a couple thousand gold coins.
The coins are clearly marked with official value you have $439. Imagine how many people would need to fill out form for declaring $1000 in cash, everyone.
Just be honest and it should go smoothly 😊
Declare the face value always lad
What a bad advice. If you don't know what you are talking about, better keep it to yourself!
Can anyone tell me where i can find the info about how anything under 10,000 does not need to be declared when flying. Im getting differing information about whether or not you have to declare and pay taxes /vat when bringing silver into the uk. It for a small amount, around 6 - 1 oz silver bars from the usa into the uk or not. Thanks.
Search "Take cash in or out of the UK" on the UK Government website.
It's the same for the US
Hi, thanks for replying. I have looked at it but there is nothing about silver so i'm still unsure as others say I have to declare any silver bars and maybe pay tax/vat on it coming into the uk.
There is silver on it, I would know
When you select currency, select 'silver ounces'. Mind you, you have to do it 3 days before you leave, you can't do it any earlier
Ok thanks, il take another look, but I don't have to declare anything if it's only a few hundred dollars right or pay the 20% vat on returning to UK? Sorry for all the questions.
Just one question. Why did you take all of that with you?
Moving country
U don't like to live in the UK? USA is not all that we got a lot of illegals over here more than the UK.
Did you really expect him to leave it all behind?
@@um8440 But USA has the Grand Canyon.
Anyone have experience traveling to SE Asia with PM? Im moving to Philippines next year and am trying to figure out the best way to get my stack with me..
Pocket change purse in backpack..... no big deal. Silver not really viable in the Philippines.
Why didn't you go by the amount on the coin instead of the market price it would be lot less
I was advised to use the spot price by the CBP to avoid any issues
@@thegoldstandard721Sorry, I'm an American. Who or What is the CBP?
This is why bitcoiners bitcoin u can move around with whatever amount or money u have
Mmmmm why not take less then 10000 to save the Hassel.. or did you need to take 10000 plus
No hassle at all
good reason to hold Bitcoin
How? I didn't have any issues flying with gold if you watched the video. I could have bought $1m and it would be fine
Declare 1 £ for the sovereign easy
That is not how it goes. Read government sites before you spread misinformation
Oh...those nasty tax men!!
A lot or work to bring in gold and silver. Why bother? You can't sell it for more here can you? Don't you pay a vat tax in London? Wouldn't you be better off buying in Us and bringing them to london to save that?
Not vat on gold in the UK
@@thegoldstandard721 Kewl but they kill you on silver huh?
This is harassment
Dude. This could have been a 4 min video. What was the point🤔🙄
5:00 How is it the business of security screening to inspect money that you're bringing with you? That is obvious mission creep. Nothing about money would bring down an airplane and nobody planning to bring down an airplane would bring valuables with them.
The government can’t use the spot price of something this was completely wrong . If you had not declared it, you would not have been violating any laws.