>>I would like to submit about 30 coins to NGC during NYINC in December.
>>How about US Customs when arriving at JFK ? Do I have to declare these
>>coins at all ? Do I need to pay some duties ? The coins are not being
>>sold, just graded and will be returned to me...
>These are personal items, not for sale, not intended as gifts and should
>therefore be duty free. However, keep an inventory of them just in case. You
>may need it to prove you exported them when they arrive home again, otherwise
>you may owe duty in your home country!
Most countries allow legal tender of most other countries to enter duty-free.
Some countries don't allow their own legal tender to enter and/or exit their
own country, in which case taxes aren't an issue. Some place limits on the
amount of their own currency.
Some countries charge sales taxes on some valuation of collectibles. Some
include collectible legal tender, and then they often tax the entire value
(however the value is determined) and not just the portion in excess of
face value. If you live in such a country, you do want to register your
coins in advance and be sure you can re-import them without being charged
Import to the US generally won't be a problem. The US tariff for numismatic
collections provides for free entry, but the items must be declared.
However, some states charge sales taxes on numismatic items, and depending
on circumstances, they could have a chance of levying sales taxes on imports.
(rec.collecting.paper-money added because this topic is of equal interest
to us paper money collectors, and numismatics includes our note collections.)
<< If this were the company's opinion, I would not be allowed to post it. >>
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