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Customs Import Duty on Coins?


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#1 Coinery

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Posted 23 November 2011 - 12:59 PM

Hi all again,

I'm sorry that all my posts are questions, rather than a sharing of information, but does anyone have any up-to-date information on the following?

If you buy coins in auction, or by any other means, from other countries (USA, EU, AUS, etc.) with the intention of reselling them (namely, as a business), are there any duties levied by Customs & Excise and, if so, what should I expect to be charged? Also are there any other hidden import charges to watch out for?

I have recently been browsing the world auction scene and have missed a few items of interest on account of my fears of large taxes upon import, so I need to get this one explored.

Many thanks in advance for any knowledge shared,

Stuart

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#2 azda

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Posted 23 November 2011 - 01:07 PM

Hi all again,

I'm sorry that all my posts are questions, rather than a sharing of information, but does anyone have any up-to-date information on the following?

If you buy coins in auction, or by any other means, from other countries (USA, EU, AUS, etc.) with the intention of reselling them (namely, as a business), are there any duties levied by Customs & Excise and, if so, what should I expect to be charged? Also are there any other hidden import charges to watch out for?

I have recently been browsing the world auction scene and have missed a few items of interest on account of my fears of large taxes upon import, so I need to get this one explored.

Many thanks in advance for any knowledge shared,

Stuart


First, it depends where you live, assuming its the UK, then they seem very much relaxed when opening packets from the USA etc. There is no tax to be paid on anything inside the EU, anything outside can be charged tax, but only if they open the package.

I live in Germany, and the bar stewards open EVERYTHING from outside the EU, so i have no choice but to pay 7% on the value over 22 euros, under that is free, so i tend to either not buy outside the EU or ask the seller to drop the price on the customs label.

I've also bought from an AU auctionhouse, and they had a very clever was of disguising what was inside. It was like a small book, to thick pieces of cardboard, when i opened it, it was like an advertisement for stamps etc, but taped under that was my 500$ worth of coins, very impressed :rolleyes:

Edited by azda, 23 November 2011 - 01:10 PM.


#3 Coinery

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Posted 23 November 2011 - 01:19 PM


Hi all again,

I'm sorry that all my posts are questions, rather than a sharing of information, but does anyone have any up-to-date information on the following?

If you buy coins in auction, or by any other means, from other countries (USA, EU, AUS, etc.) with the intention of reselling them (namely, as a business), are there any duties levied by Customs & Excise and, if so, what should I expect to be charged? Also are there any other hidden import charges to watch out for?

I have recently been browsing the world auction scene and have missed a few items of interest on account of my fears of large taxes upon import, so I need to get this one explored.

Many thanks in advance for any knowledge shared,

Stuart


First, it depends where you live, assuming its the UK, then they seem very much relaxed when opening packets from the USA etc. There is no tax to be paid on anything inside the EU, anything outside can be charged tax, but only if they open the package.

I live in Germany, and the bar stewards open EVERYTHING from outside the EU, so i have no choice but to pay 7% on the value over 22 euros, under that is free, so i tend to either not buy outside the EU or ask the seller to drop the price on the customs label.

I've also bought from an AU auctionhouse, and they had a very clever was of disguising what was inside. It was like a small book, to thick pieces of cardboard, when i opened it, it was like an advertisement for stamps etc, but taped under that was my 500$ worth of coins, very impressed :rolleyes:

I'm always amazed at the speed that this forum picks things up, thanks ForumGod

Are there no documents (custom's declarations, etc.) that the auction houses are obliged to put on the packets they send out that would get them picked up by the UK customs' bods?

#4 azda

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Posted 23 November 2011 - 01:26 PM

Of course they are obliged, but it's down to the UK customs to pick out your packet, and judging by the amount of coins people on the forum buy from outside the UK and EU, it almost never happens, whereas in Germany it ALWAYS happens much to my annoyance :ph34r:


One last thing on tax, if you are buying gold, after the year 1800, any gold coin is tax free inside the EU

Edited by azda, 23 November 2011 - 01:32 PM.


#5 Red Riley

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Posted 23 November 2011 - 03:48 PM

Of course they are obliged, but it's down to the UK customs to pick out your packet, and judging by the amount of coins people on the forum buy from outside the UK and EU, it almost never happens, whereas in Germany it ALWAYS happens much to my annoyance :ph34r:


One last thing on tax, if you are buying gold, after the year 1800, any gold coin is tax free inside the EU

I have often bought from outside the EU but have yet to be charged duty on anything. One tip I have picked up on is to get the sender to obfuscate a little, i.e. don't actually tell a lie but confuse them a bit, therefore 'coin' becomes 'numismatic item' which is perfectly true but might baffle the average customs official. Admittedly the main benefit is to prevent theft but also very handy when sending to other countries (e.g. Canada) with a rather more ferocious customs regime.

#6 Colin G.

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Posted 23 November 2011 - 04:49 PM



Hi all again,

I'm sorry that all my posts are questions, rather than a sharing of information, but does anyone have any up-to-date information on the following?

If you buy coins in auction, or by any other means, from other countries (USA, EU, AUS, etc.) with the intention of reselling them (namely, as a business), are there any duties levied by Customs & Excise and, if so, what should I expect to be charged? Also are there any other hidden import charges to watch out for?

I have recently been browsing the world auction scene and have missed a few items of interest on account of my fears of large taxes upon import, so I need to get this one explored.

Many thanks in advance for any knowledge shared,

Stuart


First, it depends where you live, assuming its the UK, then they seem very much relaxed when opening packets from the USA etc. There is no tax to be paid on anything inside the EU, anything outside can be charged tax, but only if they open the package.

I live in Germany, and the bar stewards open EVERYTHING from outside the EU, so i have no choice but to pay 7% on the value over 22 euros, under that is free, so i tend to either not buy outside the EU or ask the seller to drop the price on the customs label.

I've also bought from an AU auctionhouse, and they had a very clever was of disguising what was inside. It was like a small book, to thick pieces of cardboard, when i opened it, it was like an advertisement for stamps etc, but taped under that was my 500$ worth of coins, very impressed :rolleyes:

I'm always amazed at the speed that this forum picks things up, thanks ForumGod

Are there no documents (custom's declarations, etc.) that the auction houses are obliged to put on the packets they send out that would get them picked up by the UK customs' bods?


I tend to have this happen with the larger auction houses, and recently got charged import duty, and a nice administration charge by the postal company for paying it for me :angry:

Thanks
Colin G.

 

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#7 Gary D

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Posted 23 November 2011 - 05:07 PM




Hi all again,

I'm sorry that all my posts are questions, rather than a sharing of information, but does anyone have any up-to-date information on the following?

If you buy coins in auction, or by any other means, from other countries (USA, EU, AUS, etc.) with the intention of reselling them (namely, as a business), are there any duties levied by Customs & Excise and, if so, what should I expect to be charged? Also are there any other hidden import charges to watch out for?

I have recently been browsing the world auction scene and have missed a few items of interest on account of my fears of large taxes upon import, so I need to get this one explored.

Many thanks in advance for any knowledge shared,

Stuart


First, it depends where you live, assuming its the UK, then they seem very much relaxed when opening packets from the USA etc. There is no tax to be paid on anything inside the EU, anything outside can be charged tax, but only if they open the package.

I live in Germany, and the bar stewards open EVERYTHING from outside the EU, so i have no choice but to pay 7% on the value over 22 euros, under that is free, so i tend to either not buy outside the EU or ask the seller to drop the price on the customs label.

I've also bought from an AU auctionhouse, and they had a very clever was of disguising what was inside. It was like a small book, to thick pieces of cardboard, when i opened it, it was like an advertisement for stamps etc, but taped under that was my 500$ worth of coins, very impressed :rolleyes:

I'm always amazed at the speed that this forum picks things up, thanks ForumGod

Are there no documents (custom's declarations, etc.) that the auction houses are obliged to put on the packets they send out that would get them picked up by the UK customs' bods?


I tend to have this happen with the larger auction houses, and recently got charged import duty, and a nice administration charge by the postal company for paying it for me :angry:



There is no import duty for coins entering the UK but anything over £18 attracts 5% VAT. I have had to pay on a few occassions but what really stings is the Parcel Force fees for collecting the VAT. From memory it's about £12 :angry:

Edited by Gary D, 23 November 2011 - 05:08 PM.


#8 TomGoodheart

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Posted 23 November 2011 - 05:08 PM

My understanding is that coins over 100 years old may be imported free of customs duty and excise duty. If they are not considered to be part of a collection or "collectors' pieces" they may be liable ot vat, but at a reduced rate of 5%.

HMG antiques import rules


"collectors' pieces of numismatic interest"

Proof or a certificate as to the age of the item may be needed. And of course, if charges are levied it depends on you to challenge it.

Edited by TomGoodheart, 23 November 2011 - 05:14 PM.

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#9 coin watch

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Posted 23 November 2011 - 05:30 PM





Hi all again,

I'm sorry that all my posts are questions, rather than a sharing of information, but does anyone have any up-to-date information on the following?

If you buy coins in auction, or by any other means, from other countries (USA, EU, AUS, etc.) with the intention of reselling them (namely, as a business), are there any duties levied by Customs & Excise and, if so, what should I expect to be charged? Also are there any other hidden import charges to watch out for?

I have recently been browsing the world auction scene and have missed a few items of interest on account of my fears of large taxes upon import, so I need to get this one explored.

Many thanks in advance for any knowledge shared,

Stuart


First, it depends where you live, assuming its the UK, then they seem very much relaxed when opening packets from the USA etc. There is no tax to be paid on anything inside the EU, anything outside can be charged tax, but only if they open the package.

I live in Germany, and the bar stewards open EVERYTHING from outside the EU, so i have no choice but to pay 7% on the value over 22 euros, under that is free, so i tend to either not buy outside the EU or ask the seller to drop the price on the customs label.

I've also bought from an AU auctionhouse, and they had a very clever was of disguising what was inside. It was like a small book, to thick pieces of cardboard, when i opened it, it was like an advertisement for stamps etc, but taped under that was my 500$ worth of coins, very impressed :rolleyes:

I'm always amazed at the speed that this forum picks things up, thanks ForumGod

Are there no documents (custom's declarations, etc.) that the auction houses are obliged to put on the packets they send out that would get them picked up by the UK customs' bods?


I tend to have this happen with the larger auction houses, and recently got charged import duty, and a nice administration charge by the postal company for paying it for me :angry:



There is no import duty for coins entering the UK but anything over £18 attracts 5% VAT. I have had to pay on a few occassions but what really stings is the Parcel Force fees for collecting the VAT. From memory it's about £12 :angry:



The import duty limit rate of £18 dropped to £15 as of last month (Oct 11) but the 5% reduced rate of VAT for antiques remains the same.

#10 1949threepence

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Posted 27 November 2011 - 11:51 PM

Don't know if I've just been lucky or not, but on the 6 occasions when I've had a coin from abroad (4 USA, 1 Germany & 1 Canada) I've never had to pay any import duty, and the coin has just been delivered as normal.

The ones from the USA were variously described, as "gift", "token", "numismatic item" & "British antique coin". Don't recall the other two being marked or described on thr packet.

Edited by 1949threepence, 27 November 2011 - 11:52 PM.


#11 1887jubilee

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Posted 28 November 2011 - 10:34 AM

Hi all again,

I'm sorry that all my posts are questions, rather than a sharing of information, but does anyone have any up-to-date information on the following?

If you buy coins in auction, or by any other means, from other countries (USA, EU, AUS, etc.) with the intention of reselling them (namely, as a business), are there any duties levied by Customs & Excise and, if so, what should I expect to be charged? Also are there any other hidden import charges to watch out for?

I have recently been browsing the world auction scene and have missed a few items of interest on account of my fears of large taxes upon import, so I need to get this one explored.

Many thanks in advance for any knowledge shared,

Stuart


I don't wish to seem sanctimonious but this problem has cropped up 2000 years ago over a Roman tax. Jesus' answer was sinple "render unto Ceasar what is Ceasar's. Why should we want to cheat either the tax man or a forum god? I have been taxed at UK customs but on the occasions that I pointed out The coin was for my own collection and research purposes the tax was refunded.

#12 azda

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    Hopefully some decent Scottish Silver eventually as well

Posted 28 November 2011 - 11:26 AM


Hi all again,

I'm sorry that all my posts are questions, rather than a sharing of information, but does anyone have any up-to-date information on the following?

If you buy coins in auction, or by any other means, from other countries (USA, EU, AUS, etc.) with the intention of reselling them (namely, as a business), are there any duties levied by Customs & Excise and, if so, what should I expect to be charged? Also are there any other hidden import charges to watch out for?

I have recently been browsing the world auction scene and have missed a few items of interest on account of my fears of large taxes upon import, so I need to get this one explored.

Many thanks in advance for any knowledge shared,

Stuart


I don't wish to seem sanctimonious but this problem has cropped up 2000 years ago over a Roman tax. Jesus' answer was sinple "render unto Ceasar what is Ceasar's. Why should we want to cheat either the tax man or a forum god? I have been taxed at UK customs but on the occasions that I pointed out The coin was for my own collection and research purposes the tax was refunded.


And look what happened to Ceaser ;)

#13 azda

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Posted 28 November 2011 - 11:27 AM

Don't know if I've just been lucky or not, but on the 6 occasions when I've had a coin from abroad (4 USA, 1 Germany & 1 Canada) I've never had to pay any import duty, and the coin has just been delivered as normal.

The ones from the USA were variously described, as "gift", "token", "numismatic item" & "British antique coin". Don't recall the other two being marked or described on thr packet.


Items between the EU are not liable for tax Michael, hence i didn't put anything on the packet, it's only outside the EU that tax is payable, albeit over a certain amount.

#14 RLC35

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Posted 28 November 2011 - 12:48 PM

In sending coins to Great Britain, from The USA, I have only had one recipient mention having to pay a "Fee" at the Post Office for a coin he received. It usually takes 6-9 days for shipments to arrive in GB from the USA...this particular shipment took 3 weeks. I feel like the longer shipment time might have been the package was randomly opened for inspection, as someone earlier mentioned. I always list my coin shipments as tokens, and mark them as gifts. I always put the actual value of the shipment, however.

#15 azda

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Posted 28 November 2011 - 12:53 PM

In sending coins to Great Britain, from The USA, I have only had one recipient mention having to pay a "Fee" at the Post Office for a coin he received. It usually takes 6-9 days for shipments to arrive in GB from the USA...this particular shipment took 3 weeks. I feel like the longer shipment time might have been the package was randomly opened for inspection, as someone earlier mentioned. I always list my coin shipments as tokens, and mark them as gifts. I always put the actual value of the shipment, however.


I had a pcket from Harlen J Berk take over 4 weeks, i obviously knew where it was considering the length of time it took, and yes, i had to pay fricking tax on it :angry:

#16 Red Riley

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Posted 28 November 2011 - 04:55 PM

And look what happened to Ceaser ;)

Tiberius apparently. Spent his entire life in an orgy of drunkenness and fornication, dying of natural causes in 37 AD. I feel so sorry for him...

#17 azda

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Posted 28 November 2011 - 07:39 PM

I bethe died with a smile on his face though ;)

Edited by azda, 28 November 2011 - 07:40 PM.