Is It Advisable to Ship Precious Metals Internationally?
Are you planning to ship your silver bullion bars to your new home cross-country? While the prospect sounds exciting, it can also be very stressful for a new investor. Every day, nearly hundreds of shipments containing high values of gold and silver move from one country to another.
You need to know what to look out for to prevent your bullions from getting lost, stolen, or damaged. Here’s what you need to know about legally shipping your precious metals to an international location with ease.
Boxes and Bubble Wrap
Cushion your gold bars with lightweight corrugated cardboard to make it sturdy. You can even place your gold or silver coins in a padded envelope or use tape to prevent them from moving around the package during transport.
Use a larger box for its exterior, tape it with packaging tape, and use labels that don’t give out the box’s contents. If you see any spaces between both boxes, fill them with bubble wrap or newspaper. In the end, weigh your box, so you have a reference before transportation.
Insurance Against Loss
Using a tracking number and insurance to protect your gold or silver bars in case something goes wrong is your best bet. We would advise you to keep a list or photograph of the contents if you need to make an insurance claim.
Best to use a shipper that allows you to track your package online after signing the shipping paperwork and ensuring all the requisite forms or contact information are stored inside the package.
The cost of shipping your precious metals will most likely be higher than a regular shipment. Why? For one thing, it’s a high-risk load, so that it will require expedited freight shipping.
Suppose you have to pay more for a company with an extensive partnering network that delivers your precious metals on time for a fair price and is available when an issue arises. Would you go for a cheaper option that doesn’t cater to these aspects? We’re confident about what your answer will be.
If you’re using a courier service to ship your gold and silver bullions cross-country, contact their customs authority to find out about regulations.
Value Added Tax (VATs) and other rules vary from country to country so do prior research for tariffs and duties that may apply to your bullions. Additionally, you should complete all forms required by the law, including Export Declaration Form or any other applicable form.
Ready to ship your gold and silver bullions internationally? With 50 years of experience, we offer a one-stop solution for all your precious metal needs, including precious metal investing and secure vault storage, with gold and silver IRA accounts! We are also a Consumer Affairs’ Top-Rated Precious Metals IRA dealer to make your experience safe and risk-free!