One problem (potentially only) that we could encounter is the GST on 'imports'. When we send the coins to NGC, they will send them back to us obviously so that counts technically as an 'import'. If NGC decides to declare value on the return package at > $1000 it is likely we would be hit with the GST, even though they are our own coins!!!
Indeed! Comeaux contributed a lot to this forum, this was one of his big gifts! How to send stuff to NGC! I'm also using it as a guide. But as Fishball stated, "One problem (potentially only) that we could encounter is the GST on 'imports'. When we send the coins to NGC, they will send them back to us obviously so that counts technically as an 'import'. If NGC decides to declare value on the return package at > $1000 it is likely we would be hit with the GST, even though they are our own coins!!!"
I think comeaux has covered this topic great. I agree if you are going to get coins graded of any type I would go with ngc or pcgs these are really the only respected grading companies and not that some others might not be good but these are what people will want . I have dealt with both and personally I like NGC better than pcgs but that is just my experience and opinion. I have actually seen examples of coins by both companies that were undergraded or overgraded but there are several reasons why this could be whic has been talked about on this forum and others. One of the things that helped me understand this was when someone mentioned having more consistant grading when sending multiple coins they have more to compare them to instead of sending just one of each variety this really made sense to me.
comeaux, my raggin cajun brother, Joe from Virginia here........ i just sold a sheet of 2009 panda,s to a silver stacker , and I tried to help him out and send them direct to NGC and then have them ship to Australia for him ,no go ,Ngc only ships back to account holder, fellow silver stackers it is not a mystery this NGC thing , depends on how many coins you want to grade a year, i grade a fair amount ,so you become an elite member,about 200 usd ,so you get a 10% discount on all coins you submit and you get a coupon for 5 free submissions, so you got 90 in freebee,s so once you submit about 75 coins you are home free with the discount,only rub is NCS the conservation service does not give the discount, but if you have toner or a hazy coin it is worth going for ncs ,brand new perth lunars dont waste your money ,but anyway i had a 5 roll tray 100oz sent from australia to US for 100.00 via ems 4 or 5 day ship , ngc ships usps registered mail ,guys Harry Winston who owned the hope diamond shipped it to Europe via registered mail for like 3 bucks without insurance ,registered mail is like the gold standard of safety here,its a little slow but ultra safe, as an fyi i just shipped that 30 oz tray to a fellow SS, 56.00 dollars usps express .as Comeaux said if you can get Sarah on the phone at NGC that is one helpful lady, she we walk you thru and treat you like you are their best customer....................just trying to put a little info out there...................
Comeaux ,i skipped over some of your post by accident ,you described the process perfectly...........including the nail biting process waiting to see your grades!!
Can we use guide from one of the thread here to avoid GST charge? http://forums.silverstackers.com/to...-tax-gst-on-precious-metals-in-australia.html
yennus they have to declare ,something on the customs forms............... there has to be a way for you guys, its almost like a repair on something ,you havent bought it, you just sent it for conservation , i would call the folks that levy this nasty GST and ask, any NGC dealers in Australia? they might know, it is not a purchase so?????.................
I've given up trying to contact NGC and NCS to discuss a number of issues. My coins will remain in OMP and unconserved . Just hope they don't get white spots. We do have a PCGS authorised rep (a site sponsor) in Melbourne, I think it's the one in Melbourne CBD, but they don't have a conservation service AFAIK so I'm not interested. Universal Coins I think
I agree this is not importing goods directly, you have shipped the good for conservation and they have returned them so really the value should only be the slabs themselves. That is all that has changed. Try telling that to the customs junior who says, sorry 'mate' just the way it is...
Yeah... i'm not wanting the inconvenience of debating with a customs officer... might be easier to fly back with these from the US. Long Beach Coin Expo coming up in February... might be worthwhile seeing what they have there, and picking up some freshly graded bears from NGC
Only problem ,is usually there show grading prices are wacky also I dont think they conserve at the show..................... One option might be ...take a vacation to florida send your coins wait a bit to make sure there done when you get there ,,let them hold them for pickup,they for sure do this as i used to drop off and pickup all the time there, I used to live in a town called Venice florida, about 10 miles from NGC, Sarasota were NGC is located sits on the gulf of Mexico, Siesta Key beach is 5 minutes from NGC ,it is always rated in the top 5 beaches in the country really nice quiet place with barrier islands lining the coast great fishing too...........................
Dropping off in person doesn't make their service any faster though. You'd have to hang out on the beach for a month or more, depending on how busy they are. Of course, you'd be hanging out on the beach for a month... so that works out OK I guess
Hahah... I like the idea of hanging around for a month on some beach paradise in the USA... but I don't think it would be an efficient use of time at this stage... might be cheaper to wait in Argentina, Thor122 has promised me a Panda Party! ehehehe...
Yes. You need more than one month (saw old posts here) But yennus have a nice idea but i make it better. Fly to florida send the coins. Goto brazil (northeast) beautiful beaches and garotas stay for 3 weeks. Fly to buenos aires. Shopping cheap. Good nightlife. Beautiful women. Stay 2 weeks. Fly to florida pick up the coins. Sell half in ebay or here to absorb the travel costs. Keep the others for collection o investments. Buy more in omp. Repeat the bored business travel
Hhahaha... I like your ideas Thor122! You is an ideas man! Hopefully won't be too long till I'm practicing Spanish! "Hola chica!" <I can feel the glare from my wife already> ... I'm gonna be required to bring the family... "Hola!"
I was thinking with this, that the value would only show for the services you received, so if you got say 50 slabs @ $21.50 = $1,075 so you should pay duty, if it was only for 45 you would be under the amount and no GST should be payable ? NGC Invoice will show "1995MDST Silver Panda Conserved, Graded MS69" Cost $21.50 not showing a market value of $1,800 as just an example ? So I think it shouldn't be an issue.
