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Coinage
Penny Collector Member
Canada
303 Posts |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 11/10/2009 : 03:15:20
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| Since there is no penalty to crossing with over $10,000 you do not need a loophole. The issue is declaring - don't declare and you can lose the money. They consider gold and silver to be money. I'd rather not try to evade the system and get branded as a potential drug dealer. |
“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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keys
Penny Collector Member
383 Posts |
Posted - 11/10/2009 : 18:16:15
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Here is what you would want to do to
A Stay legal
B not get flagged as a troublemaker
-Go to Canada with $5,000 in cash or travelers checks, declare the cash at the border.
-Exchange the cash/travlers checks for Canadian currency.
-Open up a checking account in a Canadian bank. There is no law against having a bank account in another country, it is only illegal if you don't declare it on your income taxes. Checking accounts don't pay interest usually but bank interest is not what you want.
-Wire money from a US Bank to your Canadian bank account, in $3,000 amounts, well below the $10K or $5K limit that would arouse suspicion.
-Travel back to Canada, take cash out of the Canadian bank account, buy gold coins in Canada (maybe your Canadian Bank sells gold coins too?)
This way you have borken no laws, you raise no suspicions, you get gold legally and you may want to leave that gold in Canada in a safe place. |
I change with the times-
but like silver coins found in your change
I stay the same.
*****************
The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
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vrbsroma
Penny Collector Member
394 Posts |
Posted - 11/11/2009 : 14:58:25
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Not a bad idea, but I think the question was aimed at getting the coins back over into the states.
Other than smuggling them, there's probably a way to ship them or declare them as collectibles.
That being said, it's very possible to get arrested and imprisoned for trafficking gold. Be careful. |
As far as I know, it is stated "In God We Trust" on the US dollar. How can I trust this currency if I do not believe in God?
Possession is nine-tenths of the law.
When I give my two cents, they're always copper! |
Edited by - vrbsroma on 11/11/2009 14:59:15 |
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twocents
Penny Collector Member
398 Posts |
Posted - 11/15/2009 : 23:01:07
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| I always thought one could cross the border with 199 American Gold Eagle, one ounce coins and not have to declare it. They would have face value of $9950, certified by the United States Mint, stamped as $50 on each coin. |
Just my two cents! |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 11/15/2009 : 23:05:31
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Might be even easier if you open an account at a Canadian bank that has branches on this side of the border.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Heres a dumb question about crossing borders with-
Forum Locked
Posted - 11/10/2009 : 02:18:02
