When you are a gold, silver, or other precious metal seller, there's a chance that you might have to transport your metals overseas. You might move from one country to another for personal reasons or simply have found a better place to store your precious metals before you sell them off. If you do have to transport your precious metals overseas, here are some tips to make sure that it goes as smoothly as possible
1. Be Mindful of Taxes
The first factor that you need to know about is the taxes that are associated with your move. You might have to pay the taxes that your precious metals incur upfront, meaning that you will have to post a bond that covers the sum of the taxes that you owe. You will also need to declare exactly the amount and type of precious metals that you are bringing with you in order to ensure that the taxes can be checked and declared accurate.
The easiest way to make sure that you are not breaking any tax laws is to hire an imports/exports agent to help you with the paperwork. This agent is paid to communicate with other governments and make sure that the bonds are paid. If you choose to do it yourself, you will need to contact the transportation part of the government of the country where you are transferring the metals directly.
2. Check Corruption Levels
Because you are taking your gold through airports and will have to declare it, you are going to need to make sure that the people who work at the airports who will be checking your bags are relatively free of corruption. Otherwise, you might find yourself paying hefty fines simply because the people deciding whether you are allowed into the country know that you can afford it. Make sure that you go to countries that keep corruption levels in check or take out an insurance policy that covers any bribes or other fees that you might have to pay.
3. Make Two Trips
Finally, you might want to consider making two trips to gauge the area where you are planning to travel. During the first trip, bring one or two coins or smaller pieces of jewelry. Declare them and see what the tax levels are and how you are treated. Based on the information that you gather, decide whether or not you feel comfortable bringing larger quantities into the country.
For more information about purchasing gold coins or other jewelry and moving them around the world, contact a company like Penny Pincher Coins & Jewelry that specializes in dealing coins online. They will have a much more diverse selection of clientele all over the world and will be able to answer any questions that you might have.