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/biz/ - Business & Finance

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574864 No.574864 [Reply] [Original]

Quick question /biz/... How much gold bars, gold, cash and valuable souvenirs are allowed to be exported out of U.S airports?

>> No.574869

Not much.

Thats why you should move your gold in Canadian Maples. $50 CAD face value, so you can bring 199 with you and say you have less than $10 000 in cash on your person.

Thats 199 oz of gold though, worth over a quarter million.

This also may not work.

>> No.574870

Depends; are they sharp edged, or rounded?

>> No.574871

I don't think there's an actual limit as long as you declare it.

>> No.574873

>>574864
https://help.cbp.gov/app/answers/detail/a_id/332/kw/coins

>> No.574877

>>574871
Soooo, I can declare the amount and pass the border? Is that how it's going to work?

>> No.574888
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574888

If any of you nerds want a wallpaper

>> No.575806

>>574888

Thanks dork

>> No.575812

>>574864

Any amount, so long as you can fill out a form and provide explanation for how you obtained them.

>>574869

There's legal precedent that the face value of coins is irrelevant and only the market value matters for reporting- somebody tried paying his workers in gold coins, claiming the market value as their wage, which he deducted, but the face value as what he paid FICA on. Needless to say, that didn't work out so great for him.

>> No.575881

>>575812
say, receipts?

>> No.575885

>>575881

I'd imagine it would be a little more complex than that- for instance, what's to stop you from paying with dirty cash and then using that receipt as "proof". I'd say something like a receipt indicating you paid via check, and then a copy of a check from a US bank account. Or if you're a PM dealer, then you'd show proof of that.

It's really an AML regulation, so your goal is to provide a reason for how you obtained the gold legitimately and why you're taking it overseas with you.

>> No.575896

>>575885
but what is the hassle-free amount? for example there is a 10,000 limit for cash declaration.

>> No.575908

>>575896
>but what is the hassle-free amount

$10k, or, if you're "suspicious", $5k, are the lower limits for filing a SAR. It's probably the same.

Basically if you're a 20 something ripped Mexican with tattoos, under $5k, if you're a middle aged white accountant, $10k.