Originally Posted by
Steve M
The OP doesn't say in which country he's a resident, or what he plans to do with the coins once brought into the US. Let's assume for the sake of discussion that he lives in the US, and acquires the coins abroad and brings them back to the US.
I agree that as far as the currency declaration, he doesn't have to declare them: he's bringing in CAD500 of legal tender, which is well under the limit. But, then wouldn't the value above the legal tender value be "goods" acquired abroad, subject to declaration and possible payment of duty if above $800?
I am American, but resident abroad (for the past 8 years). Let's assume they were acquired while I was living overseas and now I just wish to store them in the US. I tend to think they are currency with a value of $500 CAD since they are in fact legal tender for that amount and could theoretically be spent as such in Canada. Can they be currency and goods at the same time?
If I bring in $9999.99 in pennies, the value of the copper and zinc is not relevant... why should it be with gold? It is interesting that US customs has no consistent answer for this when you ask.