Coin Collecting as an Ex-Patriot

Boosibri

Looking for some advice from any forum members who have lived internationally and continued to pursue their collecting interests. My family and I are likely relocating to Ireland in the next three months for my job and I have no desire to curtail my rare gold collection.

Key considerations to explore for me will be...

1. If I take possession in Ireland is their a duty/tax effect or other consideration?
2. Should I just have the coins shipped to a family member to depoit in my SDB? I only get to examine them when I fly home once a quarter or so.

Any other key considerations from folks who have been in a similar position.

Thanks in advance.

MsMorrisine

No one gets access to the sdb.


Are there any insane countries with duties on personal items on the initial move?

Lakesammman

I can bring them to you if you let me stay with you on golfing trips.

s4ny

It's a bit of a dilemma. Some banks will allow you to open a joint safe
deposit box with another person so both can have access. Find somebody you
really trust. The coins in the box should be clearly identified as your property.
You wouldn't want them to become part of the joint party's estate.

Personally, I wouldn't have gold coins sent to me in Ireland and wouldn't
want to be going through airport security and US Customs when moving back from Ireland
to the United States.

SaorAlba

I left all my garbage in the SDB where it resides anyway. I only ever buy local and rather inexpensive stuff when I am in Ukraine and then take it back to the USA when I go back. There is no fraggin way I would bring my collection over to UA even the banks are somewhat dodgy though they do have SDB's etc. I don't really even trust the other European banks that much there - in country finances are untrustworthy enough that most people keep their kitty in gold or dollars or euros and not hryven or rubles.

sparky64

Is there such a thing as old, rare Irish gold?

Justacommeman

I have a SDB in Hong Kong as I'm in and out of Asia often. I have 100% trust in it. Getting stuff back into the US even while kosher is a little bothersome. My advise in your situation is to not take anything with you.

Good luck.

MJ

derryb

Lots of older US gold in european hands. Visit every shop you can. If purchasing stateside on-line have delivered to a trusted relative stateside and stored safely stateside.

RYK

I think you should buy everything that's not nailed down until you depart.

I like the idea of scouring Europe for dirty gold while you are there. You can resume US coin collecting upon your return.

Boosibri

<< <i>I think you should buy everything that's not nailed down until you depart.

I like the idea of scouring Europe for dirty gold while you are there. You can resume US coin collecting upon your return. >>



I'm really just looking for a nice VF 1849-C $2.5 before I go...

CharlotteDude

Definitely some opportunity for interesting finds over in Europe. You can leave me the SDB key... I'll send pics!

'dude

SaorAlba

<< <i>Is there such a thing as old, rare Irish gold? >>



During the Irish Civil War of the 1640s gold was struck - Ormonde money or something similar.

ChangeInHistory

Keep them in the U. S. in a SDB, but take great, detailed pictures so you can enjoy them where ever you are without any of the risk.

3stars

Make sure to check out the National Museum of Decorative Arts. Believe it or not, that's where the history of Irish money museum is (second floor, south side).

Not coin realted, but I got hooked on sterling silver teapots, spoons and the like while I was there. Make sure to haggle, most has a 50% markup, and know your hallmarks before hand.

Depending on where you are going, I can hit some of the highlights for you.

messydesk

<< <i>1. If I take possession in Ireland is their a duty/tax effect or other consideration? >>


The duty you pay coming back might be different depending on when you take delivery. If it's longer than a certain amount of time, it might be treated differently than things bought just before returning.

3stars

Don't forget you'll get whacked by the VAT as well as the currency conversion (even more so in the North) when purcahisng items. If done via credit card, expect another 1%-3% hit from your CC company for a foreign transaction fee. Can get expensive quick.

ricko

While I lived in Europe (and other countries) I collected coins relative to the area where I lived. As I do here, I kept them with me and provided my own security. Worked well and I have many coins related to my ex-patriot period. Cheers, RickO

Bjorn

I moved to Scotland about 7 years ago from the US. I moved my collection in the States to a SDB at a bank local to my parent's house, and had my father as a joint owner of the box (so he could keep tabs on it). In the meantime, I continued to purchase coins in Scotland (and indeed, in Spain and Turkey when I visited). This has worked pretty well, although at one point I decided to sell some of my collection in the US to fund more purchases and pay off some extra bills that had come up. So, to make a long story short - if you have someone local who you can trust to keep tabs on a SDB, or if you plan to make it back at least once a year, I would leave the US collection in the US. Also, I don't know about Ireland, but getting a SDB in the UK has become very difficult in the last 20 years as many banks have retracted this service (I think due to liability fears) - it makes me a bit nervous about my collection, as I have to keep it in the house.

p.s. I didn't purchase any ancient coins in Turkey, just modern (post 1800) stuff! Also, you can find some dirty old US gold for good prices (not steals) over here, but I haven't seen many D or C mintmarked coins!