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Moving Overseas with PMs?

ds_mustang

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Anybody have an idea if it's even possible to take your PMs with you when you go overseas? How do you travel with PMs? What if you have a lot of heavy silver? Or slabbed gold coins? Does anyone think you can avoid simply selling and then rebuying in the new country?
 

Uncle

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A few system involved options, and I have no experience, so DYODD.







I'd think it better to convert to cash, if the travelling period is a few days, and reacquire but there are margins involved with each transaction.

Interesting subject to discuss.

Golden Regards
Uncle
 

specsaregood

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I always thought you could make a pretty nifty money belt and carry quite a bit of gold in one. I'd probably convert the silver to gold for such a move.
 

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stas3000

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If you have some small classic gold coins such as 20 Francs of France, Switzerland, etc; 20 Lire of Italy; British full and half Sovereigns... they will be easy to move on a plane (even in a wallet!) and easy to sell in Europe if that's where you're headed. Most of the border/TSA folks won't even know the difference between them and clad coins. Something to think about.
 

ds_mustang

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If you have some small classic gold coins such as 20 Francs of France, Switzerland, etc; 20 Lire of Italy; British full and half Sovereigns... they will be easy to move on a plane (even in a wallet!) and easy to sell in Europe if that's where you're headed. Most of the border/TSA folks won't even know the difference between them and clad coins. Something to think about.
I was reading on one of the previous links that if you've got just a small amount (under $10,000) you can just declare it. I suppose if you don't declare it you might run into trouble in customs if they find it.
 

Ebie

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Where are you planning to move the pm to?
 

newmisty

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If you have some small classic gold coins such as 20 Francs of France, Switzerland, etc; 20 Lire of Italy; British full and half Sovereigns... they will be easy to move on a plane (even in a wallet!) and easy to sell in Europe if that's where you're headed. Most of the border/TSA folks won't even know the difference between them and clad coins. Something to think about.
Good point.

"What funny looking coins? Oh these ? Ah, just some left-over Chucky-Cheese tokens from my kids birthday party."
 

stas3000

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I was reading on one of the previous links that if you've got just a small amount (under $10,000) you can just declare it. I suppose if you don't declare it you might run into trouble in customs if they find it.
I guess there could be a problem but let's get real... how many people know what a 20 Francs coin of 1915 is made of? Just a little coin/souvenir to most people.
 

ds_mustang

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Where are you planning to move the pm to?
I don't have any PMs as tragically I lost them, and Covid has sorta thrown a wrench into the whole world travel thing. But if the covid issues ever relax I want to visit some of the places talked about online as not being difficult to get residence while having lower taxes and more freedoms for crypto users... e.g. some Caribbean countries, Portugal, some South American countries, etc.
 

nickndfl

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Stuff them up your butt unless you have $10k in silver.
 

Goldbrix

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Yeah vaulting makes sense (as do crypto PMs) if you're traveling around, but doesn't help if you want to manage your own PMs.
Be a Templar. Deposit your gold and silver with the bank in NY and withdraw that amount of gold and silver where you set up. Yep, may not be your exact same coinage but the gold and silver value will be the same.
FYI - Once you leave the states most countries hit the people with VAT - Value Added Tax. So Far Not here in the US.
But with the dems shoving the US into the economic toliet it may not be far away.
Grass seems always greener on the other side of some borders.
 

dacrunch

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Kitco account?

Otherwise the "fractionals in a coin-pocket-purse" work fine AT DEPARTURE through the "radar luggage machine"... But on arrival, subject to "search"...

Usually, under $10k per person is allowed without having to be "declared" (currency etc.) per flight...
 

Goldbrix

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I Don't Trust KRAPCO. Hell, they don't even post accurate Spot Market Prices.
 

dacrunch

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I Don't Trust KRAPCO. Hell, they don't even post accurate Spot Market Prices.
I think that I still have about $16 in my "cash account" with them from over a decade ago... Haven't checked... Don't even remember my login or password...
 

Goldbrix

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I think that I still have about $16 in my "cash account" with them from over a decade ago... Haven't checked... Don't even remember my login or password...
They thank you for your donation.
 

D-FENZ

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Where are you planning to move the pm to?
That should always be the first question. Any other questions/answers are meaningless without that one first.

Like GOLDBRIX said, lots of countries, the EU in particular, are less friendly to PM trading than we are.
 

dacrunch

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That should always be the first question. Any other questions/answers are meaningless without that one first.

Like GOLDBRIX said, lots of countries, the EU in particular, are less friendly to PM trading than we are.
In France no taxes on purchases, but over 10% tax on sales. Have to drive to Belgium (Brussels) for selling without taxation.

btw - the "premium" on a "20 Franc Napoleon / Angel" at purchase is only about 5 Euros ($6) in France. (Paris - coin shops on Rue Vivienne, across from the defunct "Stock Exchange building" (La Bourse de Paris) as well as the best rates for changing your $$ to Euros).
 
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mnmom

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Open a bank account in said country and put a couple grand in it. Tell them you want a safe deposit box and ship the metals direct to the bank. Have them place it and mail you back a key. Or you show up when the shipment does and do it yourself.
Quite a few banks require a visit to open an account anyway. Best to have it ready to go with a prepaid label and have a friend ship it while you're already overseas.
Not that I've done this mind you.
 

Goldbrix

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In France no taxes on purchases, but over 10% tax on sales. Have to drive to Belgium for selling.
With WuFlu apparently rabid in Europe how hard is it to cross borders ? Pat Downs ? luggage searches ?
 

Goldbrix

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Open a bank account in said country and put a couple grand in it. Tell them you want a safe deposit box and ship the metals direct to the bank. Have them place it and mail you back a key. Or you show up when the shipment does and do it yourself.
Quite a few banks require a visit to open an account anyway. Best to have it ready to go with a prepaid label and have a friend ship it while you're already overseas.
Not that I've done this mind you.
Do EU banks own your property when you use their services like the banks do here in the states ?
Remember: In the US what is in a Safety Deposit Box becomes the banks' property.
 

Goldbrix

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mnmom

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Do EU banks own your property when you use their services like the banks do here in the states ?
Remember: In the US what is in a Safety Deposit Box becomes the banks' property.
I'd personally never open a bank account in an eu country. Choose your jurisdiction wisely and read your account agreement thoroughly.
 

Fiat Metaler

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Those passengers arriving still go through Customs.
Their lines are not as long though.

True, but you won't be limited to one carry on and likely can manage the move in a single trip, and you are less likely to have your pm's "asset forfeited" by the federales in the airport. Be sure to fill out the proper forms if over 10k.
 

D-FENZ

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In France no taxes on purchases, but over 10% tax on sales. Have to drive to Belgium for selling.

btw - the "premium" on a "20 Franc Napoleon / Angel" at purchase is only about 5 Euros ($6) in France. (Paris - coin shops on Rue Vivienne, across from the defunct "Stock Exchange building" (La Bourse de Paris) as well as the best rates for changing your $$ to Euros).
But do any of the dealers in either of those countries deal in cash?
 

dacrunch

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mnmom

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Do EU banks own your property when you use their services like the banks do here in the states ?
Remember: In the US what is in a Safety Deposit Box becomes the banks' property.
I did ask around and pretty much every eu countries banks say they own deposits. Swiss, maritaus, montenegro, and a few investment banks don't.
Nice benefit of deposit boxes would be they are excluded from reporting if you have they key.
 

Casey Jones

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I always thought you could make a pretty nifty money belt and carry quite a bit of gold in one. I'd probably convert the silver to gold for such a move.
You'd probably - seriously - be safer and better off, tucking it up the dirt road.

You never know when you'll find a surprise metal detector or sudden "police action" including a full search. So I'd not be comfortable with a money-belt...seems that would be the first thing they'd look for.
 

SongSungAU

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You'd probably - seriously - be safer and better off, tucking it up the dirt road.
Not if going through any security worth its salt.
Heck, in those "naked" scans, your "shit" would be glowing.
 

Cigarlover

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If under 10k worth then no need to declare it. I've made purchases in Mexico and brought them back. I did declare them even though they were under 10k worth. Customs didn't even blink, they could care less.

Over 10k you need to declare it. Lots of wealthy people take loads of money in and out of the US all the time. Poker players do as well.