I've heard it is now illegal to exit the US with more than 5 dollars in coins in your vehicle. Is it also illegal to exit Canada with a specified amount of coins? I'm wondering about bringing some Canadian Nickels into the states.
I've heard it is now illegal to exit the US with more than 5 dollars in coins in your vehicle. Is it also illegal to exit Canada with a specified amount of coins? I'm wondering about bringing some Canadian Nickels into the states.
Thanks.
To the best of my knowledge there is not a restriction on taking Canadian coins out of Canada. Members of this forum have reported doing so. That is not to say they might not give you a hard time and ask a lot of questions.
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There is no law against transporting Canadian coins back to the USA. If you exceed $10,000 in any form of currency - you must fill out a special form. I've done the Canada to US with coins trip about 25 times. I was doing it every week for the better part of 6 months. I've came back into the US with as much as $3000 in Canadian Nickels and Pennies. I've had 3 "Special Treatments" by US Customs....the longest was over a 1 hour wait in a little room with 2 way mirrors. Customs asked me a lot of questions...I gave them lots of straight answers. Searched the car and my wallet/briefcase - Wanted to understand why I belonged to "every bank in Canada" and had 6 bank cards....Be sure to declare exactly what you have when they ask you how much money you are transporting..."I have $3000 in coins"... They never explained why I was detained so long...they let me go...I asked if there was anything I could do to avoid that problem in the future...they said there was nothing I could do - have a nice day...
Good luck prospecting for Canadian Nickel...it has been picked dry around Windsor and Sarnia Ontario...under 5% in bank circulation boxes....was over 23% just 8 months ago!!!
Canadian Copper Pennies are still running over 35%....this is your better bet...was a great deal prior to the 22% exchange rate swing last year...
It is not a problem exporting from Canada and importing to the US. As already mentioned, you must complete Treasury for 4790 if the amount is $10K or more. Good luck! MaDeuc
Exporting Coins from Canada
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Posted - 12/24/2007 : 22:29:30
