A question on importing constitutional silver

[Neuri0n]

Hey guys, 

Hoping you can help. I'm looking to pick up some junk silver from the US but I'm not sure if I'd be stung with any costs outside of the regular shipping. Would it make a difference if one of my buddies out there bought it and sent it on my behalf or am I going to have to pay import fees regardless? 

Never bought silver from outside of Europe and I'm a bit clueless about it. 

Thanks for your time

Jacob

[Yetiwatch]

Hey

I get stuff shipped from outside the EU quite often and you will most likely be hit by import fees (plus the delivery companies standard fee which is usually around £12). You could always be dishonest with what is being shipped, but there are risks with that and don't forget if you lie about the value and the coins are lost in the post, then you won't be covered. What they do often now is if they look at the package and don't believe the value they will estimate a true value and charge you based on that. You can fight this, but if the value on the import sheet is false, you don't have a leg to stand on.

Small amount of coins often go through without fees, but if you do get hit with the £12ish fee, this will be a higher percentage cost.

I think it is best to factor the import fees into the cost, if you get hit its "normal" and if you don't then you have "won". 

Andrew

[FullMetalJacket]

4 hours ago, Yetiwatch said:

... then you have "won".

Nice way of putting it. 😅👍

Appreciate your full response. I'm pretty new so this is worth knowing about. 

[Neuri0n]

9 hours ago, Yetiwatch said:

Hey

I get stuff shipped from outside the EU quite often and you will most likely be hit by import fees (plus the delivery companies standard fee which is usually around £12). You could always be dishonest with what is being shipped, but there are risks with that and don't forget if you lie about the value and the coins are lost in the post, then you won't be covered. What they do often now is if they look at the package and don't believe the value they will estimate a true value and charge you based on that. You can fight this, but if the value on the import sheet is false, you don't have a leg to stand on.

Small amount of coins often go through without fees, but if you do get hit with the £12ish fee, this will be a higher percentage cost.

I think it is best to factor the import fees into the cost, if you get hit its "normal" and if you don't then you have "won". 

Andrew

Good to know, thanks for that Andrew. 

[SilverMike]

Good thread here:

May be useful, may also be a bit out of date but don't pay 20% VAT unless you need too.

[Mox]

Can someone send an item as a gift and put a nominal value on it to get it through that way? 

[Mox]

I was wondering something similar earlier if I purchased something form Hong Kong. If I knew somebody there who repackaged it, say for a small fee, then sent it on?

[SilverMike]

3 minutes ago, Mox said:

I was wondering something similar earlier if I purchased something form Hong Kong. If I knew somebody there who repackaged it, say for a small fee, then sent it on?

Probably would work, might not, but if its all done for the simple reason to avoid paying the correct tax (whatever that may be) then its illegal, its tax evasion whichever way you look at it. If its genuinly a gift, novelty item etc etc then thats what it is and nothing to worry about either. Same as lots of things, CGT for example, it relies to a degree on you being honest, if you're not you might never get caught or you could get pulled up the next day - only you can decide if its worth it 🤷🏻‍♂️