Physical Gold and Silver Transport and Storage in Chile

Postby fulanoamericano » Mon Aug 30, 2010 5:07 pm

I have physical gold and silver coins that are worth over $4000. I have purchased my plane ticket already and am really reluctant to sell as I anticipate the price of gold in relation to the dollar to accelerate dramatically, (although I'm not exactly sure how soon). Anyway, I was thinking that the best case scenario would be to have someone I trust mail it to me when I arrive in Chile. However, I'm not sure if there are mailing restrictions and furthermore, I would need to get a safe deposit box in Chile. I really want to hold onto my physical gold and silver coins but I'm not sure if I will be able to, in which case I would have to sell. I have a couple of questions. 1)Is it possible to ship physical gold and silver coins from the U.S. to Chile?
2)If so, how easy is it to get a safety deposit box and what is the cost?


Any other suggestions you all might have?

This is very important to me because I don't have a ton of money.
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Re: Physical Gold and Silver Transport and Storage in Chile

Postby fulanoamericano » Tue Aug 31, 2010 12:28 pm

eeuunikkeiexpat wrote:$4000 USD, are you serious? This is what 3 gold ozers or so and a smattering of silver ozers? Stick them in a sealed pocket of your carry on in their protective flips with nothing else in the carry on to arouse suspicion under TSA X-Ray and be done with it.


A lot of it is in silver. Not as easy as you suggest.
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Re: Physical Gold and Silver Transport and Storage in Chile

Postby GJJIM » Tue Aug 31, 2010 12:50 pm

Moving money around internationally is not easy if you can't do it under a diplomatic seal. On the U.S. side, any cash amount over $8K allows TSA to call in the local police to investigate. In many jurisdictions, the police can confiscate the cash and make you prove that it isn't related to illegal activities before they will return it. At the Chilean border, they may want to collect their 25% duty for imported merchandise.

Be careful!
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Re: Physical Gold and Silver Transport and Storage in Chile

Postby eeuunikkeiexpat » Tue Aug 31, 2010 12:55 pm

GJJIM wrote:... At the Chilean border, they may want to collect their 25% duty for imported merchandise.

Be careful!

The odds of this happening via mail courier like FEDEX into Chile, probably over 90%.
The odds of this happening to your personal medallion collection in your personal use luggage at SCL, probably 10% or less.

Also realize that SCL Chile Aduanas is looking primarily for organic stuff and drugs and that chilenos and foreigners bring in gadgets that cost a lot more than $4000 all the time many of which end up on MercadoLibre for resale.
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Re: Physical Gold and Silver Transport and Storage in Chile

Postby fulanoamericano » Tue Aug 31, 2010 1:42 pm

Thanks patagoniax. That passage seems to suggest that I should be able to bring my gold and silver through customs without penalty but the customs website aduana.cl seems to suggest otherwise. Here is what it says.

"What kind of goods can be entered/imported by a traveler subject to tax and duty payment?

The following goods, either in person or through a third party duly authorized by a Notary Public, can be imported by a traveler:

a. Goods of non-commercial nature, not exceeding USD 1,500, FOB price, and
b. Commercial goods, not exceeding USD 500 value according to invoice/receipt.

Goods exceeding the above mentioned amounts shall be imported through a Customs Broker, whose fees shall be freely agreed.""

It is also unclear to me what "commercial nature" is supposed to mean and if gold and silver is included in that category. Regardless, the amount that I need to transport exceeds the value limit of commercial and non-commercial goods.
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Re: Physical Gold and Silver Transport and Storage in Chile

Postby eeuunikkeiexpat » Tue Aug 31, 2010 1:47 pm

There are posters with real life experience and posters who theorize though both may or may not overlap.

Your call to make in the end.

Suerte.
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Re: Physical Gold and Silver Transport and Storage in Chile

Postby fulanoamericano » Tue Aug 31, 2010 1:48 pm

Thank you eeuunikkeiexpat.
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Re: Physical Gold and Silver Transport and Storage in Chile

Postby fulanoamericano » Tue Aug 31, 2010 1:53 pm

eeuunikkeiexpat wrote:The odds of this happening via mail courier like FEDEX into Chile, probably over 90%.


Seriously? But I can get still get it insured though, correct? And (tell me if I have this right)This would mean that they would have to pay me the amount of money that I insured it for should there be any kind of mishap?

Also, I'm wondering about the international shipping service DHL. Does anyone know or have experience with them?
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Re: Physical Gold and Silver Transport and Storage in Chile

Postby JHyre » Tue Aug 31, 2010 1:57 pm

No insurance company that stays in business for more than twenty minutes covers "any kind of mishap". Read the exclusions, one of which will doubtless state that any events arising from customs (etc) issues are on your nickel.

Interesting thread. I would be inclined to follow experience of people with, well, experience. Even if bedside manner of some is closer to Nurse Ratched than Florence Nightengale.

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Re: Physical Gold and Silver Transport and Storage in Chile

Postby eeuunikkeiexpat » Tue Aug 31, 2010 2:11 pm

fulanoamericano wrote:
eeuunikkeiexpat wrote:The odds of this happening via mail courier like FEDEX into Chile, probably over 90%.


Seriously? But I can get still get it insured though, correct? And (tell me if I have this right)This would mean that they would have to pay me the amount of money that I insured it for should there be any kind of mishap?

Also, I'm wondering about the international shipping service DHL. Does anyone know or have experience with them?

DHL has a decent reputation in Chile as does FEDEX. UPS has a very bad reputation, avoid at all cost. I would be worried about something happening right after the responsibility of the shipper ends.
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Re: Physical Gold and Silver Transport and Storage in Chile

Postby GJJIM » Tue Aug 31, 2010 2:11 pm

eeuunikkeiexpat wrote:There are posters with real life experience and posters who theorize though both may or may not overlap.


We don't need to individually experience a 100 meter fall to know that it will be a life altering event.

http://www.isil.org/resources/lit/looti ... erica.html

I'd be surprised if Chile didn't have similar forfeiture laws.
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Re: Physical Gold and Silver Transport and Storage in Chile

Postby j. Ro » Tue Aug 31, 2010 2:14 pm

It's under the $10 000 limit so I wouldn't worry to much about the Chilean side.

Like EEUU suggested try converting them to gold to get the weight down and stuff them in your carry on. Then when you get off the plane put them in the pockets in you jeans and walk through customs.

If you want to keep the silver be prepared to explain it at the airport and perhaps even loose some because like some suggested they may not be considered currency but imported merchandise and could be taxes as such.
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