Author Topic: December 2019 Heritage HK auctions  (Read 704 times)

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Offline pandaccumulator

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Re: December 2019 Heritage HK auctions
« Reply #15 on: December 11, 2019, 06:41:48 PM »
In the past, the coins were duty-free and the cut-off point was US $2000 (with exceptions when the Customs form or scan caused the agents to require formal clearance).  Now, the Chinese coins are not duty-free and the Customs agents must decide whether to permit the duty to be collected by the delivery company (with remittance to them) or to collect the duty before the package is released.  I doubt whether there is a standard rule.  I imagine it will matter where the package enters the country and whether the Customs form on the package raises issues.

On Monday, I cleared Customs in San Francisco at the airport.  I had some modern Chinese coins in my possession.  I declared these coins on my Customs Form.  Ouch!

I wonder whether the duty will increase on December 15th.  If it does, the increased amount may apply to any packages reaching the entry point into the USA after the 15th.  Just a thought (or mere speculation)!

Mark Bonke
On Monday, when you declared your coins at SF Customs, were you asked to pay any duty?

I received two separate invoices from HA, one will be directly shipped from Dallas, one from HK. What a pain!

Offline bonke

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Re: December 2019 Heritage HK auctions
« Reply #16 on: December 11, 2019, 10:02:10 PM »
Yes.

I paid duty on my coins and on my textile purchases.

My disclosure indicated the country of origin of my various purchases.  Based upon my disclosure, the Customs agent was able to determine the appropriate payment. 

Maybe, one day in the future, the two countries will reach a trade agreement and the duty will be removed from purchases of Chinese collectibles.  In the meantime, proceed with caution.  A bid in an auction of $100 becomes $120 with the commission and $138 with the duty.

Mark Bonke

Offline KeyDate1/2ozPandas

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Re: December 2019 Heritage HK auctions
« Reply #17 on: December 12, 2019, 12:43:34 AM »
At least you made back home without catching on fire, tear-gassed or a brick to the head. 

All these tariff has helped US dealers that focus on selling in the US, business today is strongest it has been all year.  People are spending profits from stock gains and giving up on the bitcoin revolution.  I sent 3 packages to NGC today because I am running out material to list.

Offline PandaCollector

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Re: December 2019 Heritage HK auctions
« Reply #18 on: December 12, 2019, 05:05:45 AM »
At least you made back home without catching on fire, tear-gassed or a brick to the head. 

I am in Hong Kong today and everything is peaceful — no difficulties, at all so far. The most noticeable difference is relatively few tourists, from either western countries or the mainland. A sign of this is visible at one of my favorite spots to get a bite to eat. It has closed its upper floor. The lower one is sufficient for current business. Many businesses must be hurting. Even so, the streets are crowded — just not as crowded as they used to be.

Best wishes,
Peter Anthony
NGC Consultant
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: December 2019 Heritage HK auctions
« Reply #19 on: December 12, 2019, 08:24:43 AM »
At least you made back home without catching on fire, tear-gassed or a brick to the head. 

All these tariff has helped US dealers that focus on selling in the US, business today is strongest it has been all year.  People are spending profits from stock gains and giving up on the bitcoin revolution.  I sent 3 packages to NGC today because I am running out material to list.




Running out of material to sell?     How many sales have you made recently?     If you are seeing big buyers then the other dealers will too.     It was posted some time ago that inventory in the West is thin.     Any predictions to when low inventory will affect prices?.....

Offline pandamonium

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Re: December 2019 Heritage HK auctions
« Reply #20 on: December 12, 2019, 08:34:06 AM »
At least you made back home without catching on fire, tear-gassed or a brick to the head. 

All these tariff has helped US dealers that focus on selling in the US, business today is strongest it has been all year.  People are spending profits from stock gains and giving up on the bitcoin revolution.  I sent 3 packages to NGC today because I am running out material to list.



May your brick to the head be made of HK gold.....

Offline PandaCollector

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Re: December 2019 Heritage HK auctions
« Reply #21 on: December 12, 2019, 09:52:43 AM »
I am in Hong Kong today and everything is peaceful — no difficulties, at all so far. The most noticeable difference is relatively few tourists, from either western countries or the mainland. A sign of this is visible at one of my favorite spots to get a bite to eat. It has closed its upper floor. The lower one is sufficient for current business. Many businesses must be hurting. Even so, the streets are crowded — just not as crowded as they used to be.



I have to add that the streets here are shockingly empty tonight. Crowd size might be down by 95% compared to previous times. It's a weird feeling to walk around now. If you pay attention there is a lot of damage (mostly to public property) that is barely, if at all, covered up.

Best wishes,
Peter Anthony
NGC Consultant
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: December 2019 Heritage HK auctions
« Reply #22 on: December 12, 2019, 04:00:35 PM »

Running out of material to sell?     How many sales have you made recently?     If you are seeing big buyers then the other dealers will too.     It was posted some time ago that inventory in the West is thin.     Any predictions to when low inventory will affect prices?.....

A couple of positive developments in the US have increased cash flow for investors.  In mid-November US mint sold 30,000 1oz silver eagles for $70, those that got them are able to flip the for an average of $1400, which means $40,000,000 of profits were realized by US coin collectors in a matter of 2 weeks, those profits are helping drive purchases of other coins.  US stock market is melting up while potential risks of impeachment and trade war loom, savvy investors are taking bets off the table from stock market and investing in coins.  Bitcoins had a nice year but has been in decline, at least 2 investors I know cashed out completely in the last month and looking to buy coins instead. Finally, the gold target for next year is $1600 for most investment houses so relocation is occurring into gold.

On a personal front, I shut down my store in the next few days and take a vacation until end of January, so pricing things to move to tie up my finances for next year.  This is the first year since 2010 that I bought much more than I sold, so I don't mind selling extras cheap.  I hope next year is like 2011.  6 packages going out today, including 1 to you.