Author Topic: Buying coins as a tourist in China - what to keep in mind?  (Read 2583 times)

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Offline bullionblog.eu

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Buying coins as a tourist in China - what to keep in mind?
« on: October 21, 2017, 02:18:31 PM »
Hello everybody.

I am preparing my very first trip to China - will be going to Beijing and attend the Beijing International Coin Exposition. I have been trying to understand the customs rules on what is allowed to be imported into the country and what you can export when travelling back. Can anybody help? What about modern bullion coins and medals? Do they fall under the 5000 USD currency limit if they have a face value?

Would be so glad if anybody could share his/her experiences.

Best wishes and greetings from Germany
Sebastian

Offline KeyDate1/2ozPandas

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Re: Buying coins as a tourist in China - what to keep in mind?
« Reply #1 on: October 22, 2017, 07:23:10 PM »
ATM is your best bet, each ATM card allows between $500-$2000/day of withdrawals.  Carrying and converting foreign currency is always risky. 

Offline Clark Smith

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Re: Buying coins as a tourist in China - what to keep in mind?
« Reply #2 on: October 23, 2017, 07:36:09 PM »
Anything Chinese older than 1949 isn't legal to export.

Offline KeepOnTrying!

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Re: Buying coins as a tourist in China - what to keep in mind?
« Reply #3 on: October 23, 2017, 11:20:42 PM »
ATM is your best bet, each ATM card allows between $500-$2000/day of withdrawals.  Carrying and converting foreign currency is always risky. 

Please call your credit card company while you still home and tell them that you are going to China and will be using your credit card. Also mention countries you will transit in case you need to use the card at airports. I am sure you know this but I just want to make sure!
KeepOnTrying and Never Give Up!
That lion is also after you!

Offline PandaOrLunar

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Re: Buying coins as a tourist in China - what to keep in mind?
« Reply #4 on: October 23, 2017, 11:48:47 PM »
Might also want to activate your credit card PIN as some places may or may not required a PIN for transaction.

Offline Pandaguy

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Re: Buying coins as a tourist in China - what to keep in mind?
« Reply #5 on: October 24, 2017, 12:36:06 AM »
Be careful. Many rip-off artists, both inside and outside of the hall, specialize in targeting foreigners. Make sure you do not travel alone -- especially if you don't speak Mandarin. Have fun and watch your wallet and passport. Real (if you can find them) antiques are prohibited for export, so don't waste time and money on them.  Don't forget to ask the guy in the North Korean booth about life in his country. He will tell you it is fantastic and that life in USA is very bad.

Offline bullionblog.eu

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Re: Buying coins as a tourist in China - what to keep in mind?
« Reply #6 on: October 24, 2017, 05:39:14 AM »
Hi guys.

I would like to say "THANK YOU" to everybody who shared his thoughts. There were actually some details which I did not have in mind until you pointed them out :-)

How were your experiences with customs when buying a normal amount of silver stuff (let's say 1000 euros) at a show. Do I have to keep receipts? Do they have to be declared? Would it be okay to bring stuff into China to hand over to numismatic friends at the show?

Thank you again for sharing your experiences !

Sebastian

Offline pandamonium

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Re: Buying coins as a tourist in China - what to keep in mind?
« Reply #7 on: October 24, 2017, 08:13:13 AM »
Anything Chinese older than 1949 isn't legal to export.




I thought the date posted here was 1911 not legal to export?....

Offline bonke

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Re: Buying coins as a tourist in China - what to keep in mind?
« Reply #8 on: October 24, 2017, 08:45:00 AM »
Sebastian

I have traveled to Beijing numerous times and the coin show several times.  I have had wonderful times at the coin show and at the Madian coin market. 

Years ago, the coin show was held in a two level convention center with coin dealers, stamp dealers, assessory dealers, Mint displays, etc.  The facility was too small and the crowds made it difficult to see anything.  Then, the show moved to the National Convention Center by Olympic Park.  The facility is much, much larger.  This has eliminated all of the problems.  [Even when they required a ticket for entry, twice, they just let me enter without a ticket.]

The people in Beijing have always been friendly to me, whether I am at my hotel or wandering the streets of the city.  Crime has not been a problem.  I did not even know pickpocket artists existed in Beijing.  Occasionally, someone approaches me and asks me to go somewhere to see some artwork created by their professor.  I just say "No, thank you." 

Calling your bank and credit card company is a necessity.  If you do not call your bank, the bank may block any requests at ATM machines to withdraw cash.  If you do not call your credit card company, the company may refuse charges (including the request by your hotel which is very, very inconvenient).

With an online search, you can easily determine the Chinese law concerning the importation and exportation of precious metals (including gold and silver).  In days long past, I would carry coins to and from China without regard to their laws.  Now, I am older (and a little wiser) and ask friends about the current policies about the enforcement of these laws before entering or exiting mainland Chna with gold or silver coins.  When I bring the coins into the USA, I carefully declare them to avoid confiscation.  Peter Anthony has much more knowledge and experience with this issue than I will ever have. 

I always carry US currency with me.  If my bank blocks ATM withdrawals or my credit card company refuses charges, I have money to pay for my expenses and purchases.  Often, I do not have problems and I just carry the cash back with me. 

One peice of advice.  Slow down.  Stand around.  Look at the people.  Look at the buildings.  Wander through a hutong.  It is an amazing city and the Chinese people are very, very interesting.

Mark Bonke

Offline PandaCollector

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Re: Buying coins as a tourist in China - what to keep in mind?
« Reply #9 on: October 24, 2017, 07:51:50 PM »



I thought the date posted here was 1911 not legal to export?....

I also think it is 1911, but now I need to check again.

Best wishes,
Peter Anthony
China Pricepedia
The Gold & Silver Panda Coin Buyer’s Guide 3
www.pandacollector.com

Offline Clark Smith

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Re: Buying coins as a tourist in China - what to keep in mind?
« Reply #10 on: October 24, 2017, 08:02:18 PM »
According to Chinese law, a relic certificate is required to export anything pre-1949.  (good luck at the airport to get a certificate)


From a site:

The short answer is only if it is A) made after 1911 and more importantly B) not classified as Cultural property. According to the official Chinese law on the Protection of Cultural Relics, before an item may be exported (including items which have either been “passed down from former generations” or simply found/unearthed)

According to Chinese law, a relic certificate is required to export anything pre-1949.

Items which are pre-1795 items which are not exportable at all. And more recently the government has announced it intends to push this date forward and ban exports of all antiques dating before 1911.** The first step is to determine if the item is considered a cultural relic and if so, how does it stack up against the criteria above. This is the purpose of the relic inspection.

Relic inspection, is the process in which individual items are inspected and cleared by a customs officer, before being either carried out in luggage or packed into the shipping container. If you have purchased antiques, antique looking restored furniture or any items that might be seen as old (If the item looks as if it could be real, even if it is fake or not is irrelevant – it still needs to be inspected), you must have a relic inspection performed and an antique export certificate issued by the Antiques and Relics Bureau prior to leaving the country. Otherwise your item could be confiscates at the airport or in the case of shipped items, your entire shipment may be detained by Customs for a thorough inspection at the port resulting to delay, demurrage and other additional fees.

Offline KeepOnTrying!

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Re: Buying coins as a tourist in China - what to keep in mind?
« Reply #11 on: October 25, 2017, 05:41:39 PM »
Please share photos and comments regarding the coin show. Best wishes.
KeepOnTrying and Never Give Up!
That lion is also after you!

Offline bullionblog.eu

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Re: Buying coins as a tourist in China - what to keep in mind?
« Reply #12 on: October 26, 2017, 02:21:51 AM »
A big "THANK YOU" to everybody who shared his thoughts and experiences ... this will be a big adventure for me and I am very much looking forward. And I will post updates from the show here, that's for sure :-)

Offline Pandaguy

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Re: Buying coins as a tourist in China - what to keep in mind?
« Reply #13 on: October 26, 2017, 11:40:05 PM »
Sebastian



One peice of advice.  Slow down.  Stand around.  Look at the people.  Look at the buildings.  Wander through a hutong.  It is an amazing city and the Chinese people are very, very interesting.

Mark Bonke


Yes indeed! The Chinese are VERY interesting to observe. Take a walk on the side-streets or out and away from the big city. Only then will you see how the vast majority of Chinese live, work, and act. Inner Beijing is NOT the "real China".

Offline bullionblog.eu

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Re: Buying coins as a tourist in China - what to keep in mind?
« Reply #14 on: October 31, 2017, 03:24:00 PM »
I am so much looking forward to going to Beijing next week ... maybe I can meet some of you guys here?