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<p>[QUOTE=&quot;calcol, post: 26149327, member: 77639&quot;]The info below is from Shanna Schmidt Numismatics who is the U.S. partner for NAC (Numismatica Ars Classica), an old, well known Swiss coin auction house.&nbsp; It’s from her recent newsletter. NAC auctions mostly ancient coins, but I think the essay applies to all coins.</p><p><br /></p><p>Cal</p><p><br /></p><p>-------------------------------------------------------------------------------------------</p><p><br /></p><p><b>Tariffs on ancient coins?</b></p><p><br /></p><p><br /></p><p>Unfortunately, the U.S. coin market is subject to a 10% tariff on most incoming coins. This is based on the information I have and my own experience from last week, when importing some coins from Switzerland, which were subject to a 10% tariff.&nbsp; Auction houses and coin dealers use the harmonized code beginning with 9705 to import any ancient coins. There was some discussion, and it remains, regarding the re-categorization of coins under a different harmonized code, which includes “informational material” that is currently exempt. The issue is that without agreement by the shipping services (i.e., Malca Amit, FedEx, DHL, Brinks), using such a code could be akin to fraud, and unless one has an attorney to fight this, it is likely not a viable long-term solution. The coin industry is already poised to write letters in opposition to this exemption and will continue to fight this. Coins have been tariff-free since the 1930 Tariff Act. That said, when tariffs were imposed on materials from China or Russia during the first Trump administration and continued through the Biden administration, coins were affected. I had firsthand experience with this, as I saw hefty tariffs on any coins with a country of origin (COO) from those two places. Most collectors of ancient coins were not affected by these tariffs, and consequently, many believed that coins had never been subject to such taxes. I would like to clarify that coins have been subject to tariffs in the past. With this new push to try to get coins exempt, I realize that previous tariffs might have been unjustly levied. Perhaps moving forward, we can change this.</p><p><br /></p><p>For the time being, there is one silver lining that is upheld by the shipping services. Anything that we sent from the U.S. to another country and is returning within the last three years is exempt under code 9801.00.10. NAC has tested this with our courier, Malca Amit, and confirmed that it is accepted and compliant with the law. Therefore, there are a few consignments from this upcoming NAC sale that will be exempt from any tariffs: the Carl Subak Collection of Quinarii, and several coins from NAC 154, which will be marked with an asterisk noting their tariff-free status.</p><p><br /></p><p>I will continue to monitor this tariff issue and inform clients as new information becomes available. My advice is to figure the 10% tariff into your bidding levels. You can bid 10% less to justify the purchase. </p><p><br /></p><p>-------------------------------------------------------------------------------------------[/QUOTE]</p><p><br /></p>

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