Can You Carry Gold Coins and Bullion into the U.S. without Paying Duty? Be Sure to Know U.S. Government Limitations
Let’s say that you have bought some beautiful gold coins or bullion while you have been traveling abroad, and that you want to bring them back with you into the U.S. You might have heard that such items can be freely brought into the U.S. without paying duties.
That is mostly true. But before you pack up your bags with gold coins and bullion and expect to bring them easily through U.S. Customs, please be aware of the following rules from the U.S. Office of Foreign Assets Control, a U.S. Government agency.
You can bring them in, in most cases. You can bring gold coins, medals and bullion bars into the U.S. with you, provided you declare them to a Customs and Border Protection (CBP) Officer at Customs.
There is no duty to pay on gold coins, medals or bullion. However, if you are bringing in any foreign currency that is worth more than $10,000, you must file a FinCEN 105 form that is available at customs, or possibly from airline personnel while you are in flight. So if you are planning to bring in currency that exceeds that value, plan ahead.
Fake items are taboo. Counterfeit items may not be imported into the U.S. and will be confiscated if they are detected. Please note that some counterfeit items are very well made and have the markings of countries where similar, genuine items are made. To avoid having valuable-but-counterfeit items confiscated, take pains to verify their authenticity before you attempt to bring them to the U.S.
Items from three countries are excluded. Items originating in or brought from, Cuba, Iran, and Sudan are prohibited entry and will be confiscated.
A Bit of Advice from Specialty Metals Smelters and Refiners
A variety of shippers, including FedEx, offer secure and insured international shipping on valuables, including gold bullion and currency. Depending on the value of what you have to ship, it is worth considering using one of them instead of carrying your valuables with you when you travel.
For more information, contact FedEx at 1-888-329-8166. Or call Specialty Metals Smelters and Refiners at 800-426-2344 to discuss your options. We are here to reduce the risk of dealing in precious metals, and to help maximize the profit from your investments too.
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