Crossing the Border with Junk Silver Coins

[TwoPenniesEarned]

Since junk silver is in one sense nothing more than circulating currency, is it safe to declare it at it's face value while crossing the border? I think the US might have a prohibition on leaving the country with $5.00 or more in change...but I don't think we have that prohibition in Canada.

Anyone with any experience in dealing with Customs Officials in the US or Canada?

[Aqualung48]

Here is my "two cents worth". I have no personal experience with this, but found this answer on line. Let us know if you find or learn anything more restrictive.


"There are no limits to the amount of money that you can bring into or take out of Canada. However, amounts of CAN$10,000 or more must be reported to customs at the Canadian border.

Failure to report amounts totaling CAN$10,000 or more may result in seizure of the money and penalties of CAN$250 to CAN$5000.

If you are carrying a total of CAN$10,000 (or its equivalent) or more - in coins, domestic and foreign bank notes, securities such as travellers cheques, stocks and bonds - you must complete a Cross-Border Currency or Monetary Instruments Report - Individual Form E677 (in PDF). If the money is not your own, you should complete Form E667 Cross-Border Currency or Monetary Instruments Report - General (in PDF). The form should be signed and handed to a customs officer.

Completed forms are sent to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) for assessment and analysis."

http://canadaonline.about.com/od/custom ... smoney.htm

[psi]

My impression was also that the relevant limit with legal tender other than US nickels and pennies is $10k, under that value you should be able to cross either way without declaring and not have to worry about any consequences if it's discovered. If the melt value is over $10k but the face value is less, my guess is that you could still be in trouble if they find it and realize what it is.

[highroller4321]

Since junk silver is in one sense nothing more than circulating currency, is it safe to declare it at it's face value while crossing the border? I think the US might have a prohibition on leaving the country with $5.00 or more in change...but I don't think we have that prohibition in Canada.

Anyone with any experience in dealing with Customs Officials in the US or Canada?

This was changed to $20 and only applies to pennies and nickels.

As for the face value I am not an expert but if it was me I would claim it as face value. There was that person who crossed the border with over $1million worth of silver and claimed all the ealges at face value. They confinscated his stuff and after a few months he got it back.