Question for collectors in Canada

ajaan

If you are in Canada, and you buy a Canadian coin from the US, do you have to pay a duty tax on the coin? Does it make a difference if the coin is slabbed?

TheGoonies1985

Anything valued at 100$ Canadian or more is liable to have duties/taxes. Slabbed or not changes nothing.

TwoKopeiki

So many import taxes. So, so many duties and fees.

syl

Hmmm .... I have a friend in Buffalo that I have items sent to that eliminates most of that problem. Sometimes, even if they don't open the package, they will charge a $25 fee just because it goes through Customs. If they open and ascertain value, then more Customs fees apply

ELuis

I sold some coins on the BST to someone in Canada, some time ago, I sent the package with the coins, he got them and no issues with tax et-al.

TheGoonies1985

If you use UPS the buyer may have to pay brokerage fees as well as taxes.

ajaan

So, Canadian coins are still subject to duties/taxes?

TheGoonies1985

@ajaan said:
So, Canadian coins are still subject to duties/taxes?

Yes they are considered collectibles or for numismatic research. And they are not 99.99% pure silver or gold in that case could be considered bullion (I think based on a conversation I had with a customs agent a while back). In this case there should be no taxes.

TheGoonies1985

I do not get it does your buyer not want to pay taxes? That is tax evasion do not put yourself into that position as a seller. A federal crime. And they will possibly confiscate the package and to get it back if they let you have it back I believe you would have to pay 50% of its market value. So say a 10 000$ coin you would have to pay 5000$ penalty to get your coin back. Otherwise they will simply seize it.

TheGoonies1985

I always pay taxes when needed do I enjoy it no but who does. I understand it is part of life and not worth playing with.

ajaan

In a thread on the US coin forum, YQQ stated:
please note: there is no duty nor taxes on Canadian coins shipped to Canada

That is why I asked

TheGoonies1985

@ajaan said:
In a thread on the US coin forum, YQQ stated:
please note: there is no duty nor taxes on Canadian coins shipped to Canada

That is why I asked

He is wrong I live in Canada and order 99% of the time outside of Canada maybe 98% from the USA then 2% from places like Spain or Chile.

TheGoonies1985

@PillarDollarCollector said:
I do not get it does your buyer not want to pay taxes? That is tax evasion do not put yourself into that position as a seller. A federal crime. And they will possibly confiscate the package and to get it back if they let you have it back I believe you would have to pay 50% of its market value. So say a 10 000$ coin you would have to pay 5000$ penalty to get your coin back. Otherwise they will simply seize it.

The 50% I mentioned is something I read in the news last year (up here in Canada) when someone undervalued expensive watches. That is the fine they had to pay to get them back. Border agents seized them because a fake value was listed on the custom forms.

I am not saying this will happen to you just letting you know what can happen.

YQQ

It is simple and I should not have said that in the previous post:
I am sorry
Here are the facts:
Canadian coins do not attract** import** duty.
However, legally customs can apply federal tax of 5% (GST) and another provincial tax (7-12 ?) of the Value of the coin.
BUT it is usually waived by experienced customs officers, as the amount is too low to bother to do Paper work.
Hence most shipments, if declared as collectors coins, go right through.
You can check the tariff info and rates on line.
If your postal shipment is intercepted and amounts are due it will attract another charge by Canada Post ( I think $25)
read it for yourself on the CBS web site:
Chapter 71 : T2024
Canada Border Services Agency
https://www.cbsa-asfc.gc.ca/trade-commerce/tariff-tarif/2024/html/00/ch71-eng.html
Apr 25, 2024 - Chapter 71 : T2024—Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal and articles thereof; imitation jewellery; coin ... (a) Of natural or cultured pearls or of precious or semi-precious stones (natural, ... (ij) Umbrellas, walking-sticks or other articles of Chapter 66; ...** Free**

****but, provincial charges and taxes CAN still apply.****

Get your items shipped USPS ONLY ! Do not use Fedex UPS or DHL or any courier service .
This way Canada Post looks after the delivery and collection Of any import fees after customs directs trhe item to them .
Coins are subject to GST, or HST and any PST . US export code on coins to international destinations
Is 9705.00.00.60 , in Canada coins are 9705.00.00.90 .

Do not use Fedex or UPS or DHL or any other courier service as additional large fees are assesst by them.
Please use International tariff code # 9705.00.00.90 for collectors coins. Do not write anywhere that the shipment contains coins!
Canada Import customs will use the above code.
check it out on the CBS web site

DanB1962

Not duty, but GST and PST or HST.......anything shipped via the ebay shipping program gets molested by Customs, same with anything couriered. Depending on the export declaration, some USPS packages get thru. And of course, Canada post and the couriers take a small brokerage fee on top....usually in the $10-20 range.