Returned Graded Coins and Canada Customs

[VictorG-migration]

Hi: New user, sorry for any errors learning to use chat. I am in Canada and want to ship coins for grading to U.S. How does Canada Customs know that this coin originated from Canada and as such should not charge me and taxes (or duty) when the coin is returned to me? I could see paying taxes on the charges for the work done but should not have to pay on the actual value of the coin. Is it just understood by customs from the receipt that would be in package that I originally sent the coin? Otherwise I could be taxed twice. For example; I buy a coin in U.S. for $1,000. When it is shipped to me Canada Customs charges me provincial and federal taxes which would amount to $150. Then I send it to U.S. to be graded and it is shipped back to me with a declared value of $1,000. Again, customs charges me $150 taxes which I already paid. The original receipt and taxes paid would be of no use I don't believe as coins do not have serial numbers and it cannot be proved it is same coin.

[Charles_Urlin_Farley-migra]

Have you heard of ICCS? They are a Canadian 3rd party grading service. Why not keep your coins "in country" and avoid the taxes?

 

International Coin Certification Service

2010 Yonge Street

Ste 202

Toronto, Ontorio

Canada M4S 1Z9

 

Phone 416-488-8620

Fax 416-488-6371

 

 

 

[James_OldeTowne]

Charles, perhaps he wants to get some U.S. coins graded? I do not know if ICCS would grade US coins.

 

Victor, unfortunately, I do not know the answer to your question, but it is a good one. It sounds like an appropriate question for NGCs customer service.

 

Also, Welcome to our friendly little neighborhood!

 

James

[VictorG-migration]

Hi: Yes, I started my search in Canada which I would prefer using as it would certainly simplify. I did read good things about ICCS and believe I did contact them (there is a similiar sounding business in Quebec and I don't recall if I called each one). I would not hesitate to use ICCS in Toronto but I asked my question here in general regarding coins but my main item to grade and have conservation work done is a George I Indian Peace Medal. NGS and NGC are the only places I could find that can do this.

[koincollector]

I read this on the ICG site. This might be of some help to you--

 

http://www.icgcoin.com/canadianmailingtips.htm

[RobertB]

I think your real issue are those insane taxes you have to pay. Good Lord man. That's crazy. I feel very sorry for our northern neighbors. 15%,..........wow.

[Kitz]

I would not use ICCS. Their grading seems to have no standard. I have seen coins drastically under graded in their holder and coins that have been polished graded MS65. It is better to go with a reputable company like NGC.