Just looking for some input from any UK/Euro based collectors who have made purchases from CNG or any US based auction house. I am based in the UK and up until now I have disregarded US auctions assuming the additional costs would be too much ie Import Tax and duty. Am I correct in saying ancient coins are processed with a different form so 5% duty is applied rather than the full 20%? Any experiences would be greatly appreciated!
CNG has a UK office, I believe. You might contact them directly. As an American occasionally shipping to the UK, I am under the impression that adding the words "antique" and/or "over 100 years old" to the customs form triggers a lower rate. I've been at it a long time, however, and may be remembering outdated rules.
From direct experience however duty is regularly added at 20% regardless plus a handling fee and you have to pay it and appeal afterwards if you want a discounted rate. CNG often ship directly from their UK office however.
Can't speak for the UK but in Belgium this only happened to me once in probably 100 shipments. Much of it probably depends on what is written on the export declaration form.
It ahppens on over 10% of coins I have bought from the US. It is a real pain on low value coins. Anything over £15 (less that $20 at todays rates) is chargable. No big deal at 20% you would think but the handling charge is £8 (over $10). When I look at buyng from the US I have to cater for factors. There was a coin that I was interested in at $100. The seller only affered pre-cleared import duty (which is now a common theme with several sellers) so that added $20. He wanted just under $40 for shipping. This would mean that the coin would come in at $160 and made it unpalatable. If I had bought something similar and it had been charged at the post office here then it would have come in at $170. I am struggling to buy much from the US.
It happens from time to time, not often. It’s a bit like bad weather, a flat tire or something else unwanted that turns up occasionally. Just book it as a drawback that has to happen from time to time, and you will feel better.
For the last couple of years, CNG have been shipping coins to me in Ireland via their London office and charge 5% import fees. Before that, they used to ship directly to me and I was usually not charged anything. On two or three occasions, I did have to pay some extortionate Irish import duty - 20%+, I can't remember exactly. However, 99% of the time, I did not have to pay any import duty. After 1st January 2021, it's not clear what will happen with CNG shipments. Assuming the UK is outside the EU Customs Union, I will certainly not have them shipped via London as this will attract 5% plus probably an Irish tax also, so it will be much better to get them directly. For the same reason, purchases from Naville and Roma may end up being more expensive, if Irish taxes start to be applied, so EU-based auctions will be much more attractive. ATB, Aidan.
