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JerrySpringer
Penny Hoarding Member
669 Posts |
 Posted - 10/26/2009 : 16:59:12
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Some of our friends to the north may be able to trade in person. I was wondering what the rules were on bringing ASEs across the border into Canada? Maybe set up an exchange for certain amount of a silver for the pre-'82 nickels? What does silver go for in Canada? I am throwing this out here. Maybe this should be put in the general discussions?
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fb101
Administrator
USA
2856 Posts |
Posted - 10/26/2009 : 17:11:22
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| You preparing for the confiscation? |
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 10/26/2009 : 17:16:45
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| No |
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psi
Penny Collector Member
Canada
399 Posts |
Posted - 10/26/2009 : 18:01:08
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A limit of $10,000 cash comes to mind but I'm not sure how that would translate for PM's. Crossing by land or air is another variable. I've found Canadian border guards at land crossings to be more relaxed than their American counterparts, but part of that might just be that I'm returning to my own country.
There was also some talk of in-person nickel trades in the nickel forum recently, maybe a Canadian mini get together would be in order. There seem to be quite a few members around the Toronto area. |
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barrytrot
Administrator
USA
721 Posts |
Posted - 10/26/2009 : 18:20:47
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Since ASE's are legal tender ($1 each) I'm 99% certain they would work in the 10k "monetary instruments" rule.
FYI though: That rule is coming IN TO the US. There is no such rule going OUT OF that I know of. In fact, there are a couple obvious counters to that rule. |
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Nickelless
Administrator
USA
5580 Posts |
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psi
Penny Collector Member
Canada
399 Posts |
Posted - 10/26/2009 : 18:46:20
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I did some checking and it looks like (c$) 10k of value (or equivalent in foreign cash or 'monetary instruments') is the magic number for money coming into Canada as well, over that you must declare or face seizure and possible additional fines. You must be logged in to see this link.
My guess is that they would go by the silver value and not the face value, wouldn't be worth it to chance it if you weren't sure. |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 10/26/2009 : 18:52:47
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| Are the laws the same for going into Mexico? |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 10/27/2009 : 22:38:07
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The Canadian law (and American one too as far as I know) requires everyone to report $10,000 or more in monetary instruments going into or out of each country. There is no problem carrying over $10,000 as long as you report it with the correct forms.
I took some gold and silver across the Canadian border today. I declared it and said "its tax and duty free". The first officer agreed and then asked me why I would buy gold. I told her it holds its value against a dropping US dollar and I wanted to dump my US dollars before they went to zero (ok slight exaggeration) . She wanted to know when the Loonie would reach par and said she is really looking forward to that.
I got sent in for a car search seemingly since the other agent went and told her he needed another car to go through (my number was up today I guess) but both officers I talked to agreed that there is no tax or duty on gold and silver coins. The second one said "ya, its currency, you can hold on to it".
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“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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Nickelless
Administrator
USA
5580 Posts |
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The law on bringing silver into Canda from USA?
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