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I would like to offload some coins that I bought in Europe to the US markets.

Are there any laws I need to be aware of, transporting US legal coins (US Gold Bullion Coins, Silver Dollars, Silver Half Dollars) into the US from Europe. Will there be problems with Customs?

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You'll have to fill the customs form and declare the amount of gold and its value. You'll probably have to pay the duty on the import. And no, the value of the silver dollars is not the face value embossed on them.

  • Not the answer I wanted. Really? Kennedy Half dollars aren't legal tender any more? – WeNeedAnswers Jun 8 '12 at 1:55
  • If I fill in the customs form, will they seize my coins? – WeNeedAnswers Jun 8 '12 at 2:00
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    @WeNeedAnswers (a) You can spend your half-dollars as legal tender $0.50 if you want to, but their import value would be the market value. (b) If you properly declare what you're importing and pay the duties owing, nothing should be seized. Undeclared or misdeclared goods can be seized. Expect a lot of questions if you are bringing a lot of cash/coins into the country. If you need a reliable answer, please check with a legal/customs professional. – Chris W. Rea Jun 8 '12 at 3:16
  • Strange world we are living in, that legal tender currency that has been circulated can be deemed unacceptable because the intrinsic value is now more valuable than the token value. Thanks for your help on this matter. As I said, not the answer I was looking for. But if you say that's the way it is, then I feel very sad about it. Do you think that they will do the same when coins all become Iron, and you try to bring into the country cupro-Nikel coins? – WeNeedAnswers Jun 8 '12 at 12:21
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    @WeNeedAnswers "deemed unacceptable"? You're reading something neither of us wrote. I believe you can still spend your Kennedy half dollars for their legal tender face value, but that wouldn't be wise since you could sell them for more than that. As to your last question: it's not "they" doing anything. Your legal obligation as a person importing goods into a country is to declare the value of what you are importing. If you know the actual value of silver coinage you are importing exceeds face value, your ought to declare what you know about the value. – Chris W. Rea Jun 8 '12 at 13:36
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There is nothing to pay on importing and exporting coins of dollar value not in excess of 10,000 dollars. You don't even have to declare them. I just took the advice from @Chris W. Rea to speak to a customs professional.

You only really get issues if your coming in from a country that is flagged, say such as Cuba.

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    Here's something else I found: help.cbp.gov/app/answers/detail/a_id/332/~/… – Chris W. Rea Jun 8 '12 at 13:39
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    Keep in mind that Customs and TSA Agents have broad discretion in their actions and sometimes interpret things inconsistently. You may want to look for specific rules from the US Customs website to carry with you to help resolve any issues that pop up. – duffbeer703 Jun 8 '12 at 15:33
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    This is incorrect. As it explicitly says on the form I put in my answer - you must declare your gold coins, regardless of the numbers signs and letters imprinted on them. You can have $10K in your pocket, but not 10000 $1 gold coins. As to Kennedy half-dollars - I had no idea they had any silver in them, good to know. I get them occasionally as change. If you can carry 20000 of those - you have so much muscles that no-one will dare to stop you. – littleadv Jun 8 '12 at 17:18
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    Agreed, gold coins must be declared. Excerpt from the link I provided: "*There is no duty on gold coins, medals or bullion but these items must be declared to a Customs and Border Protection (CBP) Officer. Please note a FinCEN 105 form must be completed at the time of entry for monetary instruments over $10,000. This includes currency, ie. gold coins, valued over $10,000." – Chris W. Rea Jun 8 '12 at 17:46
  • Not worried about Gold, its only for the Fed to keep track. No duties to be paid, taxed exempt. I got nothing to hide, just don't want to pay tax, and want to make some money selling coins. :) – WeNeedAnswers Jun 10 '12 at 2:26

protected by Chris W. Rea Aug 1 '16 at 1:57

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