TSA rule on carrying coins

Discussion in 'General Precious Metals Discussion' started by donkarnash, Aug 31, 2018.

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  1. donkarnash

    donkarnash Member

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    Hi,

    What is the TSA rule for carrying bullion coins thru the airport. On their website, TSA has archived a page reg coins, bullion and jewelry so it is no longer current. I've read in other forums that TSA does not have any authority to seize coins or bullion.

    are graded panda coins considered numismatic coins ?
    can these be carried in hand language from overseas into USA ?
    do the coins have to be declared ?
    are there a limit on the number of coins that can be carried ?

    Thanks
     
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  2. goldpelican

    goldpelican Administrator Staff Member

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    Done it several times with gold coins. It sounds like you are asking about entering the USA on an international flight - you won't be interacting with TSA on arrival, you would be dealing with CBP. You need to declare more than $10,000 USD in currency from memory. I had a big delay once carrying US pre 1933 gold coins in - until another agent popped in and told the agent dealing with me "hey, they're US currency, there's no duty on them". Filed a FinCEN report and was on my way.

    HOWEVER - to be considered currency by FinCEN, where the report goes, the items have to be intended or have been in circulation - so bullion Pandas, while legal tender, do not necessarily meet the definition of currency for reporting purposes.

    https://www.fincen.gov/resources/st...s/fincen-form-105-currency-and-other-monetary

    Pandas might be considered currency on entry - but most regulations explicitly mention gold, not silver or precious metals. It would be hard to carry $10,000 in silver internationally anyway.

    https://help.cbp.gov/app/answers/detail/a_id/322
    https://help.cbp.gov/app/answers/detail/a_id/195

    Safest to bring a receipt, invoice etc that shows the value and proof of purchase. Try to avoid having an agent decide that they are personal effects, as then you may be forced to pay import duty on them on the spot. If you bought them within the last 12 months though then if they get declared personal effects then you'll almost certainly be in a position where an agent will be deciding if you're going to be paying duty on them. If you have receipts showing that they were purchased more than a year ago bring those. Almost guaranteed that the agent won't know how to handle it.

    The quantity will affect how it goes - if you're bringing in half a dozen, then they're basically souvenirs. If you're bringing in a hundred things will get tricky and they make you use an import agent.

    You can always try calling US Customers and Border Patrol. If your're a frequent traveller to the US get Global Entry status - makes things a *lot* easier on arrival.
     
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  3. pmbug

    pmbug Active Member

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    TSA can hold you while they summon local police who can F you over 9 ways to Sunday if they want to (including, but not limited to using civil asset forfeiture to legally rob you). Best to have your T's crossed and your I's dotted.
     
  4. donkarnash

    donkarnash Member

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    Thanks for the reply GP and pmbug
     
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