Transporting Gold coins on international flight

Discussion in 'Bullion Investing' started by Jayfurball, Sep 4, 2019.

  1. Jayfurball

    Jayfurball Member

    could i carry 195 $50 1 ounce gold eagle coins in my pocket on a plane without declaring to customs since its less than $10k currency? or do I have to report since the gold value is so much higher? Just unclear on laws here. Seems like it would be legal to go undeclared since they have a legal tender face value, but i do not want to be detained while the authorities have my half million dollars in gold coins. What is the law on this? Btw I am US citizen so I really am only interested in US law.
    Thank you,
    J
     
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. -jeffB

    -jeffB Greshams LEO Supporter

    Not a lawyer, but I know that trying to avoid taxes by paying someone $50 in gold coin instead of $1500 cash doesn't get you very far in the eyes of the IRS. I would expect customs to have the same attitude.

    Also, (a) I'm thinking the metal detectors would notice 13-14 pounds of metal in your pocket, and (b) that pocket had better be reinforced...
     
  4. Collecting Nut

    Collecting Nut Borderline Hoarder

    I think you're taking a big chance. That's a lot of weight in a pocket. If in a carry on it's a big risk.
     
    xCoin-Hoarder'92x likes this.
  5. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    If I were a Customs agent, I would be wondering why this fellow is carrying that much gold in his pocket rather than a briefcase.

    Chris
     
    xCoin-Hoarder'92x likes this.
  6. Evan8

    Evan8 A Little Off Center

    Carry on a briefcase with it handcuffed to your wrist. You know, like they do in the movies:D
     
    xCoin-Hoarder'92x likes this.
  7. ToughCOINS

    ToughCOINS Dealer Member Moderator

    That's just asking to get your hand cut off.
     
    xCoin-Hoarder'92x and Two Dogs like this.
  8. myownprivy

    myownprivy Well-Known Member

    Whatever you decide to do, I think it should be based on the anonymous, uncited advice you get from cointalk members.

    Buena suerte
     
    harrync, Jaelus and -jeffB like this.
  9. green18

    green18 Sweet on Commemorative Coins Supporter

    Drug runner...... devil.gif
     
    xCoin-Hoarder'92x likes this.
  10. Jayfurball

    Jayfurball Member

    Ill probably just convert my gold to bitcoin and keep the keys in my brain. The government cannot confiscate my thoughts(yet).
     
    xCoin-Hoarder'92x likes this.
  11. rte

    rte Well-Known Member

    Do like Mr T does, hang it around your neck in chain form.
    Develop an attitude and no one will give you a second look.
     
  12. Collecting Nut

    Collecting Nut Borderline Hoarder

    What about the haircut?
     
    Two Dogs likes this.
  13. rte

    rte Well-Known Member

    Think Visually, add a Mike Tyson warrior type decoration
     
  14. Nyatii

    Nyatii I like running w/scissors. Makes me feel dangerous

    The bitcoin trade will still show to the IRS.
     
    xCoin-Hoarder'92x likes this.
  15. chascat

    chascat Well-Known Member

    You better have all the purchase receipts in your pocket also...IRS will be very interested in your stash when passing thru Customs.
     
  16. Burton Strauss III

    Burton Strauss III Supporter! Supporter

    medoraman likes this.
  17. Michael K

    Michael K Well-Known Member

    Convert it to high grade diamonds which are lighter and won't set off the metal detector. But you didn't hear that from me. I believe in reporting whatever needs to be legally reported and to pay taxes if it's income.
     
  18. John Skelton

    John Skelton Morgan man!

    If you are leaving the U.S. with these coins in a carry on, be aware that having more than $10,000 on you is considered suspicious by the TSA, and you might not even be allowed to take it with you. I suggest you review TSA requirements before doing this, something all domestic passengers should do.
     
    chascat likes this.
  19. tibor

    tibor Well-Known Member

    Ask a lawyer. Coin dealers regularly ask for private screenings when
    going thru security. It should pass as numismatic inventory. Just keep
    them in a brief case. Better yet, sell them here in America and repurchase
    them at your destination. It may cost some extra but that's cheaper than
    being in a jail cell in a foreign country.
     
    chascat likes this.
  20. Burton Strauss III

    Burton Strauss III Supporter! Supporter

    You have the right to have TSA screen you in private, just ask politely when you reach the first station. Other countries, however, other rules.

    That's separate from needing to file the declaration if you are traveling internationally with more than 10k with customs and border protection (CBP).
     
  21. -jeffB

    -jeffB Greshams LEO Supporter

    The OP didn't say, of course, but I'm guessing that converting them to trackable bank funds might be contrary to some of his goals. :rolleyes:
     
Draft saved Draft deleted

Share This Page