#31
Feb 11, 2023Quote:
Nice idea, but I have large capital gains and would have to pay taxes on the gains if I sell and rebuy. This is planned as a long term hold (10-20+ years) so even though cap gains rates are lower this year than next, it would be costly.Originally Posted by scolbath
Why not sell the gold at its current location and buy an equivalent amount at your destination? Gold is sufficiently liquid that you could probably do both on the same day, and never have to touch an ounce. You will pay some transactional cost, but there is transactional cost on all the previously proposed solutions - this might be the cheapest one.
#32
Quote:
Technically, you are free to move as much money as you want through the airport. If traveling outside the country, Customs requires you to declare anything over 10k, but that does NOT mean taking or bringing cash or equivalents over 10k is illegal, contrary to some of the ridiculous comments posted by screeners in this forum. You just need to file a form (on the way out), or check your customs declaration on the way in.
You do NOT need to declare gold bullion even when travelling with it internationally. Gold COINS need to be declared if their FACE VALUE exceeds 10 000 USD. (a one troy ounce canadian maple leaf coin, worth over 1000 CAD, has a "face value" of 50 CAD).Originally Posted by bocastephen
I would be concerned about screener theft - too many sticky fingers around. Besides that, they could scream for the police and get them involved.Technically, you are free to move as much money as you want through the airport. If traveling outside the country, Customs requires you to declare anything over 10k, but that does NOT mean taking or bringing cash or equivalents over 10k is illegal, contrary to some of the ridiculous comments posted by screeners in this forum. You just need to file a form (on the way out), or check your customs declaration on the way in.
#33
MikeInMass , Aug 23, 2010 9:03 am
I believe some precious metals depositories offer armored car pick-up services.
I have no experience with any and have no idea of the cost, but there are links to a couple on this page.
I have no experience with any and have no idea of the cost, but there are links to a couple on this page.
#34
bocastephen , Aug 23, 2010 9:19 am
A FlyerTalk Posting Legend
Quote:
My bad - it would need to be cash or cash equivalent to require the declaration.Originally Posted by polonius
You do NOT need to declare gold bullion even when travelling with it internationally. Gold COINS need to be declared if their FACE VALUE exceeds 10 000 USD. (a one troy ounce canadian maple leaf coin, worth over 1000 CAD, has a "face value" of 50 CAD).
#35
FlyingHoustonian , Aug 24, 2010 12:11 am
Hey modern, while searching for some unrelated freight info, I just read that Continental has a program called COsecure to include Gold over 25k:
This airport-to-airport product brings security, chain-of-custody and
around-the-clock monitoring for high-value shipments. COsecure
delivers peace of mind for shipments with a declared or invoice value
exceeding $25,000 per airway bill which can include:
• artwork
•watches (valued at more than $1,000 per pound)
• negotiable instruments
• gems
• gold
More Info
Visit cocargo.com
You might want to look into that. It is airport-to-airport pickup.
Ciao,
FH
This airport-to-airport product brings security, chain-of-custody and
around-the-clock monitoring for high-value shipments. COsecure
delivers peace of mind for shipments with a declared or invoice value
exceeding $25,000 per airway bill which can include:
• artwork
•watches (valued at more than $1,000 per pound)
• negotiable instruments
• gems
• gold
More Info
Visit cocargo.com
You might want to look into that. It is airport-to-airport pickup.
Ciao,
FH
#36
Quote:
Coin forum threads about first-hand dealer experiences differ greatly from the "doom & gloom" guessing in this one. I'm sure there are many stories of Ma & Pa losing their rare coins and such during bag checks to opportunistic thugs. However, I don't recall any stories about coin dealers having the same theft issues with TSA. I'm sure that going in with a large "inventory", knowing what to expect, and requesting a controlled search environment differentiates you. As long as you hand-carry, and nothing of value is checked in, you should be fine.
Travel with a friend, if you can, and bring all of your valuables as carry-on. Its usually possible to get the X-Ray operator's attention, and then to let him know the bag you're about to send through will need a private screening. If you're pretty paranoid, ask that at least one of the screeners checking your bag to be a lead. Two screeners will be in the room with you, and you and your travel companion should have a clear line of sight on both of them as they go through your things. When they're finished, let them know you'd like to repack yourself, and do a mini-inventory of all your belongings before you leave.
Here's a good read on the subject, if you have the time. It's a little dated, (FAA regulation number #108.9???), but the general information is still relevant. Flying Wise: Security in the Skies.
First off, I two am a currency buff, amateur that is... collecting coins here and there every once in a while.Originally Posted by Batmanuel
Hundreds of coin dealers fly every few months to attend coin shows with millions of dollars in hand-carried coins/currency/bullion. (I'm a currency buff myself)Coin forum threads about first-hand dealer experiences differ greatly from the "doom & gloom" guessing in this one. I'm sure there are many stories of Ma & Pa losing their rare coins and such during bag checks to opportunistic thugs. However, I don't recall any stories about coin dealers having the same theft issues with TSA. I'm sure that going in with a large "inventory", knowing what to expect, and requesting a controlled search environment differentiates you. As long as you hand-carry, and nothing of value is checked in, you should be fine.
Travel with a friend, if you can, and bring all of your valuables as carry-on. Its usually possible to get the X-Ray operator's attention, and then to let him know the bag you're about to send through will need a private screening. If you're pretty paranoid, ask that at least one of the screeners checking your bag to be a lead. Two screeners will be in the room with you, and you and your travel companion should have a clear line of sight on both of them as they go through your things. When they're finished, let them know you'd like to repack yourself, and do a mini-inventory of all your belongings before you leave.
Here's a good read on the subject, if you have the time. It's a little dated, (FAA regulation number #108.9???), but the general information is still relevant. Flying Wise: Security in the Skies.
Anyways, the ANA just held their World's Fair of Money and this year's location was none other than Boston. Essentially... what described above happened... about 100x over the last two days of the show.
The checkpoints I was at we had no problems reported. We had no trouble and were accommodating. Nevertheless, we had some trouble.
But it's going hit, gold is so dense and soft like lead it's going to be a black, black spot on the x-ray monitor.
So yeah, prepare for that, ask for a private screening and a supervisor. My advice is choose a courier, that would be the best bet to avoid the hassle.
#37
If there's no intention to do anything with it for decades, why not just leave it where it is and move it later? Way less hassle, and probably in the long run less expenses.
#38
Quote:
Thanks! This looks great, as I can specify what flight it is on and fly out with it and pick it up after I land and drive right to the bank. Continental has nonstops to my destination.Originally Posted by FlyingHoustonian
Hey modern, while searching for some unrelated freight info, I just read that Continental has a program called COsecure to include Gold over 25k:
Cost is 200% of regular tariffs, but for 15 or 20 pounds can't be that much. However, I have to find a wood (!) or metal shipping container.
Quote:
It's a change of tax domicile issue. One of the things the tax authorities check is where you keep your safe deposit box. If you want to move out of a high tax state to a lower tax state, you should sever as many ties as you can, so they don't use them against you in court.Originally Posted by cordelli
If there's no intention to do anything with it for decades, why not just leave it where it is and move it later? Way less hassle, and probably in the long run less expenses.
#39
Quote:
Interesting. Not to hijack the topic, but do stock certificates count as "cash equivalents"?Originally Posted by polonius
You do NOT need to declare gold bullion even when travelling with it internationally. Gold COINS need to be declared if their FACE VALUE exceeds 10 000 USD. (a one troy ounce canadian maple leaf coin, worth over 1000 CAD, has a "face value" of 50 CAD).
#40
bocastephen , Aug 25, 2010 10:07 am
A FlyerTalk Posting Legend
Quote:
As I understand it, anything that can be easily or readily transferrable to cash or used as cash. These would be 'money instruments', such as cash, coins, cashier's checks, money orders, travelers checks, etc.Originally Posted by Tennisbum
Interesting. Not to hijack the topic, but do stock certificates count as "cash equivalents"?
I believe bearer bonds are included, but I'm not sure about stock certificates or stamps.
#41
Global_Hi_Flyer , Aug 25, 2010 10:25 am
Quote:
I believe bearer bonds are included, but I'm not sure about stock certificates or stamps.
Bearer bonds are included. Stamps are generally included. For certain regulations, gift certificates may be included. I don't think stock certificates are generally included, but I may be mistaken.Originally Posted by bocastephen
As I understand it, anything that can be easily or readily transferrable to cash or used as cash. These would be 'money instruments', such as cash, coins, cashier's checks, money orders, travelers checks, etc.I believe bearer bonds are included, but I'm not sure about stock certificates or stamps.
#42
Loren Pechtel , Aug 25, 2010 10:40 am
FlyerTalk Evangelist
Quote:
They have names on them.Originally Posted by Tennisbum
Interesting. Not to hijack the topic, but do stock certificates count as "cash equivalents"?
My understanding is that it's only the stuff that doesn't have names that they care about.
#43
Quote:
Can't say that around here. They could arrest you. LOLOriginally Posted by Tennisbum
Not to hijack the topic, but do stock certificates count as "cash equivalents"?
#44
Global_Hi_Flyer , Aug 25, 2010 11:41 am
Quote:
My understanding is that it's only the stuff that doesn't have names that they care about.
IF they have names on them. Some may not.Originally Posted by Loren Pechtel
They have names on them.My understanding is that it's only the stuff that doesn't have names that they care about.
Here's FinCEN's definition of monetary instruments:
Quote:
form that title thereto passes upon delivery. Monetary instruments do not include (i) checks or money orders made payable to the order of a named person which have not been endorsed or which bear restrictive endorsements, (ii) warehouse receipts, or (iii) bills of lading.
Originally Posted by FinCEN form 105 instructions
Monetary Instruments— (1) Coin or currency of the United States or of any other country, (2) traveler’s checks in any form, (3) negotiable instruments (including checks, promissory notes, and money orders) in bearer form, endorsed without restriction, made out to a fictitious payee, or otherwise in such form that title thereto passes upon delivery, (4) incomplete instruments (including checks, promissory notes, and money orders) that are signed but on which the name of the payee has been omitted, and (5) securities or stock in bearer form or otherwise in suchform that title thereto passes upon delivery. Monetary instruments do not include (i) checks or money orders made payable to the order of a named person which have not been endorsed or which bear restrictive endorsements, (ii) warehouse receipts, or (iii) bills of lading.
#45
Quote:
No you aren't, and you would be really stupid to consider such a thing.Originally Posted by MiddleSeatLover
sorry... with that much gold, you are required to check it as luggage. Make sure you use a TSA-approved lock and clearly mark "HEAVY - GOLD" on the outside.(don't want to injure baggage handlers, right?)
Quote:
And you don't F with a Postal Inspector. Those guys are mean.Originally Posted by Exiled in Express
I believe that Registered Mail will work. USPS does, or did, accept valuations over $25,000 with advance notice as the shipment has to have a Postal Inspector accompany it. This is not something I would expect every local post office to know. 1-877-876-2455 will connect you with the nearest USPIS location, 8-430p M-F.