Author Topic: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?  (Read 1403 times)

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Offline PandaCollector

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Re: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?
« Reply #15 on: September 15, 2018, 11:38:31 PM »
Mark,

It seems reasonable (to me) that a product manufactured prior to the tariff taking effect, purchased in Hong Kong and with a Hong Kong sales receipt would not be subject to the tariff. I don't expect this will have any effect on items bought at auction in Hong Kong.

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

Offline PandaCollector

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Re: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?
« Reply #16 on: September 16, 2018, 12:07:25 AM »
Hey, a report in the last hour has the tariff scaled back to 10%.

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

Offline bonke

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Re: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?
« Reply #17 on: September 16, 2018, 01:13:46 AM »
Peter

10% is certainly better than 25%.

If I purchase an item at auction for US $1000 plus a 20% commission = US $1200.  Then, the 25% tariff would increase the price to US $1500.

In contrast, if I purchase the same item at auction for US $1000 plus a 20% commission = US $1200.  Then, the 10% tariff would increase the price to $1320.  Much better from my perspective as a consumer or collector.

Mark Bonke

Offline bonke

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Re: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?
« Reply #18 on: September 16, 2018, 01:48:36 AM »
Peter

Think of the implications of the tariff (10% or 25%) for mainland Chinese dealers who list and sell on Ebay to USA buyers.  The purchase is made.  Payment is made.  The item is shipped.  If properly declared, Customs holds the item until the duty is paid (requiring a Customs broker to help clear the transaction).  If not properly declared, Customs seizes the item and resells it in one of the government auctions.  A Customs broker usually costs me $45 with FedEx and $240-$300 with another delivery service.  This does change the nature of a purchase from the PRC by a USA buyer.

Mark Bonke

Offline pandamonium

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Re: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?
« Reply #19 on: September 16, 2018, 07:44:40 AM »
Past posts here say China will eventually keep their gold/silver, coins/medals for their domestic market and it makes sense to me.   10% tariff might encourage that to begin as we all know gold/silver will soon be real money.     It also makes sense that dealers in China will ship to a trusted entity in Hong Kong or open a small shop there to ship to the US so shipping might increase a bit...

Offline pandamonium

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Re: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?
« Reply #20 on: September 16, 2018, 11:32:10 AM »
Reuter  "Trump likely to announce new China tariffs as early as Monday;  source".....

Offline PandaCollector

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Re: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?
« Reply #21 on: September 16, 2018, 11:45:25 AM »
Peter

Think of the implications of the tariff (10% or 25%) for mainland Chinese dealers who list and sell on Ebay to USA buyers.  The purchase is made.  Payment is made.  The item is shipped.  If properly declared, Customs holds the item until the duty is paid (requiring a Customs broker to help clear the transaction).  If not properly declared, Customs seizes the item and resells it in one of the government auctions.  A Customs broker usually costs me $45 with FedEx and $240-$300 with another delivery service.  This does change the nature of a purchase from the PRC by a USA buyer.

Mark Bonke

Yes. The future of this part of the trade is pretty hazy now. At least Hong Kong is unaffected.

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

Offline pandamonium

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Re: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?
« Reply #22 on: September 17, 2018, 09:42:00 PM »
At about 5PM PST it was announced 10% tariff is applied to Chinese goods.     How does this work?    If anyone buys today they pay the 10% or is the dealer charged?    Is it applied at the post office?    If a package is in the mail does it get taxed in the US?   Any one know?.....

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Re: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?
« Reply #23 on: September 17, 2018, 10:46:02 PM »
At about 5PM PST it was announced 10% tariff is applied to Chinese goods.     How does this work?    If anyone buys today they pay the 10% or is the dealer charged?    Is it applied at the post office?    If a package is in the mail does it get taxed in the US?   Any one know?.....

Packages with values of less than $2,500 may escape the tariff. Above $2,500 it can cost not only the tariff but also the cost of customs clearance. A new China Pricepedia is about to be sent out that discusses this.

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

Offline KeyDate1/2ozPandas

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Re: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?
« Reply #24 on: September 18, 2018, 12:42:29 AM »
Bullion coins will definitely take a hit, 2019 could be key date year due to tariff and multi year low demand for bullion.  The show medals should be fine, considering most importers will declare just the bullion value of the coins, so 1oz silver medal will be $1.60 more expensive to import, not a big deal.

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Re: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?
« Reply #25 on: September 18, 2018, 12:02:36 PM »
The show medals should be fine, considering most importers will declare just the bullion value of the coins, so 1oz silver medal will be $1.60 more expensive to import, not a big deal.

For shipping, the Mint insures their products for the full replacement cost which is way, way above melt value. This higher value is what the tariff will be based on. The importer has no opportunity to reduce it.

Incidentally, I just read that the 10% will increase to 25% on January 1.

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

Offline pandamonium

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Re: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?
« Reply #26 on: September 18, 2018, 09:23:45 PM »
10% tariffs take effect on Sept 24th Monday from what i read.    That allows time for purchase from China and ship before then.    Not sure how they will tax it and emailed a know it all but no return email yet.....

Offline KeyDate1/2ozPandas

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Re: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?
« Reply #27 on: September 18, 2018, 11:22:01 PM »
Doesn't the distributor have choice to take delivery in Mainland and then ship however they please to rest of world.

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Re: Imminent 25% Tariff on Gold and Silver Numismatic Items from China?
« Reply #28 on: September 19, 2018, 11:55:48 PM »
Doesn't the distributor have choice to take delivery in Mainland and then ship however they please to rest of world.

No. The terms of the export license require that every single piece be sealed and shipped overseas. If you ship to the mainland, the PBC (People's Bank of China) will likely not issue an export license later and the license is required.

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