Importing coin into the UK

[Gary D]

Not to sure if this is the correct place to put this topic but here goes. What is involved in importing coins into the UK from the states. Especially high value stuff. Import duty, VAT etc.

[Rob]

If it comes through the post, it will enter the UK via the Mount Pleasant sorting office where they will assess the duty and VAT payable based on the value stated on the customs declaration (the little white or green label). This will then be payable when the parcel is delivered. They will take cheques. If it comes via courier such as FEDEX or DHL, they will also demand payment on delivery and may require the cheque to clear unless you have an account with them. All parcels travelling to an international destination must have a customs declaration and so in theory all imports should pay duty, but this is frequently waived for low value items.

[Chris Perkins]

And even high value items too....The UK customs are far far more lax than some other countries. From experience, the German 'Zoll' are all gits!

[Gary D]

Ok so is there a way of working out a worst case, $500 or $1000. Are there limits allowences etc

[Rob]

Ok so is there a way of working out a worst case, $500 or $1000. Are there limits allowences etc

No, duty and vat are theoretically payable on all imports, but it's a bit random as to whether they charge or not. To give a rough idea of the costs involved, the last one set me back £26-27 for a $700 coin. It would be wise to factor in import costs on the assumption that they will be levied.

[wybrit]

There seems to have been a bit of a crackdown by UK customs of late. I sell quite a few coins back to the UK and many of them in the past year have been delayed in getting to their destination. I have had complaints from buyers about the outrageous duties, but of course there is not a thing I can do about them.

I am also frequently asked to lie on the customs form. These repeated requests forced me to clearly state on my terms and conditions that I will not do so.

[Guest lochness monster]

i believe that the british coins in switzerland found in 1996 are nothing but a hoax.

[Gary D]

To get a definitive answer I phoned the customs people today and was very pleased with the answer. Coins are art and collectables so aslong as they are not legal tender attrack zero import duty and VAT at 5%. Bit of a result

The clasification code to be entered on the customs declaration is 9705000090

[Chris Perkins]

Is that even for coins over 100 years old? I suppose that also means that when you buy or sell a coin within the UK, that the price includes 5% VAT.

That's interesting info to put in the 2007 CCGB actually!

[wybrit]

To get a definitive answer I phoned the customs people today and was very pleased with the answer. Coins are art and collectables so aslong as they are not legal tender attrack zero import duty and VAT at 5%.

The clasification code to be entered on the customs declaration is 9705000090

So as long as I state "Numismatic Specimen, Collector Value Only, Not Legal Tender," the Customs agents will not charge duty?

I hate to say this, but that message is not making it to U.K. customs inspectors. I use that line all the time on the forms and I still hear complaints and see the evidence via photos as well, even for coins > 100 years old.

[wybrit]

And I suppose 100 year old threepences are a nice little loophole for customs too! They're still legal tender!!!

[Coppers]

Wybrit -- I don't recall any customs duty being charged in the other direction (UK to US). Do you know if this is just an oversight or is US customs supposed to charge a duty?

[wybrit]

Although there is an importation limit of $400 for other goods, the US does not charge duty for coins.

I have imported many, many British coins over to here and have never been charged any duty whatsoever. In fact, I've never even had a coin shipment held up in customs here.

[Coppers]

Thank you, Wybrit!

[Gary D]

As the duty is payable to the posty here in the UK he obviously cant argue. You have to pay the duty, incorrect or not then reclaim it from customs. IIRC their Coventry office.