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Bringing silver coins to the Philippines.

Hello guys.

Next month my mom will move to the Philippines and she will bring around $5000 worth silver bullion coins with her. I found very limited information about it in google, so if some of you have experience with it, please share with me.

Should we declare it (nobody checking bags on exit, but...) ?
How much are taxes?
Can it be considered and included in $10k limit on cash?

Thank you,
Edin

Prepare for possible problems as they're be a lot of questions if you declare, and a lot more if you don't and get found with them.

Want some advise? DON'T DO IT. If you think it's worth more than the US smelt value you are mistaken. You don't want to carry 18 lbs of silver to the Philippines. There is no market for it here. Sell it in the states and bring Benjamins. If you insist on bringing it declare the coin face value not by weighted value. That's all an insurance company will cover without a complicated rider contract. Don't put it in checked luggage if you expect to see it again.
I strongly recommend rethinking bringing your silver to the Philippines. It's not a good idea for many reasons.

Exactly correct advice! Don't bring it!

Yes thats right dont bring it here

You say do not bring silver coins , but I have step children in the Philippines and I was thinking of bringing them some pure silver bars and they are only worth market value but I'm thinking if they held onto them for years that the price will increase with time.   Or in a emergency they could sell them?   Why would this not be a good idea?

TvizzSR :

You say do not bring silver coins , but I have step children in the Philippines and I was thinking of bringing them some pure silver bars and they are only worth market value but I'm thinking if they held onto them for years that the price will increase with time.   Or in a emergency they could sell them?   Why would this not be a good idea?

The commodities market is always at risk of fluctuation, if you want to invest in silver because you think the value will increase, buy stocks and gift it to them.

I understand that, but if the system should ever crash those bonds are worthless but silver and other precious metals will hold value .  I do not understand why this is considered a bad thing to do?  And I'm not planning on bringing loads of it just some to hold on to for the future and its guaranteed I do not ever see the price crashing.

Oh and there is no guarantee with stocks so how will that be a good investment?

Oh and there is no guarantee with stocks so how will that be a good investment?

Importing quantities of precious goods through customs is commonly a bad idea, but some bad ideas have a greater chance of serious issues than others.
Sounds like hallmarked items can be imported, as can silver with a valuation certificate of some sort, but silver alone could be consficated.

Then comes the import duty.

https://www.iatatravelcentre.com/PH-Phi … etails.htm

Prohibited:
1. printed subversive, obscene and pornographic materials;
2. drugs or substances for abortion;
3. gambling machines and articles, jackpot or pinball machines, lottery sweepstakes tickets, coin operated video machines;
4. articles of gold, silver and precious metals without indications of actual fineness of quality;
5. misbranded and/or adulterated drugs or foodstuffs.

If you bought diversified mutual funds you would be safe, if they lose value over 20 years then so will silver without the other problems.  If still too much risk put them in FDIC insured cd's.

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