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Message:: [QUOTE="Chris B, post: 26391815, member: 87179"]CNG just sent this out yesterday: An Update on Tariffs from CNG, LLC Perhaps no word has caused more frustration and confusion in the coin marketplace than “tariffs.” This subject has continued to be a point of discussion and contention for almost everyone who buys or sells from outside and then into the United States. Facebook posts are filled with comments daily on this very subject. So, after a delay of several months, I would like you to get an update from CNG LLC and how we are seeing and handling imports to the US. CNG is Receiving all Imports of Coins Tariff Free in the US I am pleased to report that all coins we are importing from overseas directly are coming into the United States “Tariff Free”! We are experiencing no tariffs on coins that remain under our control when we do the shipping via a licensed and trained shipping broker. This includes the services of Malca Amit, Ferrari, and Federal Express. It took us some time to develop these services as we had to work with specific brokers who understand the tariff exemptions which relate to coins. We have all these relationships in place now and are experiencing no issues with our imports. But please note, this is when we handle the pickup of a consignment or purchase and send the coins directly to CNG in Lancaster, Pennsylvania. This means our offices in the US, London, or The Hague are the ones coordinating the pickup and delivery of the coins. That is the good news. And it is indeed very good news. You can be totally confident that all consignments (and purchases via CNG) coming into the US from abroad are completely tariff-free. We guarantee that! Fighting Misapplied Import Tariffs The bad news is, many collectors are finding that deliveries they are having sent directly to them from European (and other) auction houses are arriving in the US with a “tariff due” notice. This is because the generic Federal Express (and other) delivery services are not prepared to deal with import tariff exemption codes and just apply tariffs to everything as that is the easiest way to deal with an import. You can fight the tariff (after it is paid) and with proper paperwork you will get a refund. That is also good news. However, besides the hassle of completing the paperwork and the time it takes, there is also a $90 fee for filing this claim and many small purchases just don’t warrant this expense. It may actually be cheaper to pay the tariff and be done with it, even though the tariff was incorrectly applied in the first place. Consider Commission Bidding For some of you there are alternatives. Working with a US dealer who will accept commission bids is one alternative. Most US dealers bidding abroad have also developed working relationships with the various import services and are able to import your purchases made through them via commission bids tariff free. CNG offers this service for auctions where we attend in person or are available to advance view the coins in the auction (but bid remotely). We charge a 5% commission fee for this service. Other dealers of note that offer a similar service as a large part of their business models are Shanna Schmidt and Ed Waddell. If you are buying important and valuable coins I can’t recommend this approach strongly enough. The pre-auction lot viewing can make a huge difference in buying a great coin or getting stuck with a dog that had hidden and undescribed defects. The End of “de minimis” exemptions. The latest move by the Trump administration which eliminated the “de minimis” exemption from tariffs for packages valued at under $800 has hit some collectors hard. These are specifically the low-valued imports that aren’t worth fighting the tariff fee on. As an example, if your purchase had a value of $700, the import tariff might be $105 (15% of the sale price). If it costs $90 to file the tariff refund claim, is it really worth it to fight to save $15 (the difference between the tariff charge and the filing fee)? The problem with these low-value purchases, at the moment, is that much of the international postal community has paused deliveries into the US until a normalized tariff payment process is figured out. So, some small-value purchases may be completely stalled in their source countries. I am sure this will get worked out, but the short-term chaos is significant. Will the Recent Court Ruling Calling Most Trump Tariffs Illegal Change Things? A recent US Court of Appeals ruled that most of the Trump-imposed tariffs are illegal under the authority he claimed (National Security). The case is now moving to the US Supreme Court for a final ruling. Unfortunately, the lower court did not pause tariffs, so any Trump-imposed tariffs still stand. Will the Supreme Court rule for or against the tariffs? Who knows. And should they rule the tariffs were illegally applied, what will be the process for generating refunds? You can imagine the nightmare this might cause the US government. For now, all we can do is wait and see how the Supreme Court rules. When that might actually happen remains anybody’s guess. Summary Rest assured your consignments from abroad to CNG will get into the US tariff free if you have us manage the shipment. US collectors should consider commission bidding for overseas bids. The “de minimis” exemption termination will have an impact on small value bidders from the US for an indeterminate period of time until postal processes are worked out. Do not assume FedEx or DHL will solve this problem for direct deliveries from dealers abroad to your home. Their generic processes are not set up to qualify shipments for tariff exemptions. The only consistent way to get imports in tariff free is to use a qualified broker. And, with some effort, you can fight, and win, a tariff dispute if needed. If you have any questions, all of us at CNG who are involved with the consignment process are ready, willing, and able to answer your questions. Please give us a call, and remember, we are currently accepting consignments for our flagship Triton auction as well as our ongoing Electronic Auctions. Thank you for your continued support and “Happy collecting.” Mike Gasvoda Managing Director CNG LLC[/QUOTE]

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