Shipping expensive collectible banknote to the USA. Anyone experienced in this.
Summary: treadstone68 inquires about the process and potential duties when shipping PMG graded bills to the US, particularly when their value exceeds the $800 duty-free limit. They have identified HS codes 49070030 and 9705.29.00.00 that might apply but are unsure about the duties. intimewithmusic advises on shipping methods, recommending FedEx or UPS for reliability, and details eBay's requirements for signature confirmation on high-value items. pjcdn2005, reallynicestamps, and others discuss insurance options, emphasizing that buyers in the US may still incur customs duties. Additional tips, such as contacting buyers for convenient delivery addresses and using discreet packaging, are shared by various contributors. Overall, there is consensus on using reliable shipping service with thorough insurance to protect the seller.
Wondering if anyone has experience in this and what to expect regarding clearing customes and particularly if the value of the item(s) goes past the $800 personal duty free amount? These would be PMG graded bills (basically certified bills encapsulated in plastic) by the way.
So far I have figured out the HS code is DIFFERENT than for coins and is 49070030, but not clear answer yet on what the receiver in the US would expect to pay in terms of duties or tarrifs. Anyone know? I found this site, that seems to imply there is NO duty or tariff, but it is not exactly a user friendly table. https://hts.usitc.gov/search?query=banknotes
I found this other HS code that seems a better fit " 9705.29.00.00
Collections and collectors’ pieces of numismatic interest" ( and I verified numismatic includes paper money). Now if I read this right, there are no tarrifs on these according to https://www.flexport.com/data/hs-code/9705-collections-and-collectors-pieces-of-archaeological-ethnographic-historical-zoological-botanical-mineralogical-anatomical-paleontological-or-numismati/index.html
Also is there any difference if I would be doing this through eBay or not, as long as I use the right HS code and declare the value ?
reallynicestamps
·1 year agoI agree-- braces and belt.
reallynicestamps
·1 year agoWe have an annual contract with Hugh Wood International, which has offices in Toronto and which specializes in collectibles, covering both buyers and sellers.
Their coverage includes travel to and from shows !
And our stock against shoptheft, water, fire, the usual.
And they have been flexible about stock and collections which can change from day to day.
They only do long term contracts, no one offs, so that needs to be considered.
https://hwcanada.com/industries/fine-art-collectibles/
I've seen shipinsure mentioned here as a reliable one-off insurer. I may not have the name right.
@dinomitesales Thanks for the update. I didn't see Priority USA on the SnapShip list, and went back and forth about which to mention.
@treadstone68The postal system is very very reliable. I've been selling by mail order since the 70s and have had fewer problems with them than any courier. (Don't ever talk to me about FedEx.)
intimewithmusic
·2 years agoThere you have it @treadstone68 the pros like @pjcdn2005 and @reallynicestamps are great to hear from about this.
One thing I think is important I forgot to suggest. When the sale is made eBay gives you the customer's phone number. It is your right to use it if you like. My niche is a pretty friendly one and sometimes, before I ship an expensive item, I phone the buyer directly. I've never had a bad result. Generally they are happy (surprised) to hear from me. I can ask them if the address on the order is the most convenient and secure one. Depending on the courier and the location the item can sometimes be held for pickup instead of home delivery.
Just phoning your customer to ask a question will give both of you piece of mind (unless the call results in a red flag which has never happened yet). It can even create a regular customer providing they speak English LOL.
Phoning them is an option to consider that many never think to do.
reallynicestamps
·2 years agoBTW- we ship high value items all the time and have for over 40 years.
The less conspicuous the package the better
My address labels read "R N Stamps" , the auction house we recently sold used "Sparks" rather than "Sparks Auctions" on envelopes.
We once shipped a $15,000 order to Moscow Idaho by Priority Post which was mis-directed to Moscow Russia. It arrived safely, if late, with a lot of Cyrillic writing on it but unopened and undisturbed.
There is a Priority Post USA but the labels don't seem to be available online. You have to get the envelope at the PO counter, I guess @dinomitesales (?)
intimewithmusic
·2 years agoGreat story! that is real experience.
You dodged a bullet from both Moscows! haha
dinomitesales
·2 years agoCanada Post no longer offers any pre-paid envelopes/shipping options to the USA or internationally. There is no "Priority" service to the United States either (the "Priority Worldwide" service, which was a collaboration with FedEx, was discontinued last year).
If you intend to use Canada Post to send the item then you will have to use XpressPost - as others have stated, it is the only service that includes a signature. It is basically the equivalent of Registered Mail to the States.
Canada Post will only cover up to $100 of insurance for "Collector's bank notes", so take that into consideration if you intend to use Canada Post (don't pay for additional insurance coverage as it's a waste of money). For this reason alone you may consider getting a quote through a courier (and confirming that their insurance would cover the item in the event of loss or damage), or using a third-party insurance provider as others have mentioned.
As for the HS Code I would use whichever one you feel is most appropriate. Ultimately it is the buyer's responsibility to be aware of any restrictions/fees associated with importing items such as this into their country.
treadstone68
OP2 years agoGood to know but what do you do as far as declared value and insurance?
Do you use the HS code for 9705? "Tariff Classification of - Collections and collectors' pieces of archaeological, ethnographic, historical, zoological, botanical, mineralogical, anatomical, paleontological or numismatic interest."
recped
·2 years agoI might use one the codes on this page:
https://www.cbsa-asfc.gc.ca/trade-commerce/tariff-tarif/2024/html/00/ch49-eng.html#wb-auto-4
They specifically mention "banknotes"
pjcdn2005
·1 year agoBanknotes are also mentioned here:
Unused postage, revenue or similar stamps of current or new issue in the country in which they have, or will have, a recognised face value; stamp-impressed paper; banknotes; cheque forms; stock, share or bond certificates and similar documents of title
pjcdn2005
·1 year agoIf you use the courier route such as Fedex or UPS your buyer will definitely pay customs fees if banknotes are dutiable. Also, unless you use one of their express services, the buyer will also pay brokerage fees.
I
intimewithmusic
·1 year agoGood point and due to the average value of their items @treadstone68 may want to add the standard buyer's notice about customs duty and fees being the buyer responsibilty to the listings to avoid surprises.
recped
·1 year agoHardly neccessary, eBay warns buyers about this on the listing itself.
Your listing:
intimewithmusic
·1 year agomarnotom!
·1 year agoI can’t speak to the Android version of the app, but the disclaimer is definitely present on listings when using the iOS version.
pjcdn2005
·2 years agoI would use the first HS code you mentioned for currency.
Perhaps the second one is also for numismatic items but when I entered the HS code on google,
this came up.
970529 - Collections and colls' pieces, o/t human/extinct/endangered species & parts t/o
reallynicestamps
·2 years agobut not clear answer yet on what the receiver in the US would expect to pay in terms of duties or tarrifs.
It's the receiver who pays these fees, and not the responsibility of the seller/sender.
In my opinion, if your buyer is used to importing high value items, they already know the answer.
I'd use a Express Post envelope rather than an eBay Express Post label, but mostly because you are worried.
Express Post costs ~$35 and offers Signature Confirmation.
https://www.canadapost-postescanada.ca/cpc/en/tools/find-a-rate.page
We see problems on these Boards because no one posts about successful transactions.
pjcdn2005
·2 years agoAs mentioned by the other poster, if the item plus shipping cost $750+ eBay requires you to ship with a service that gets a signature. Xpresspost USA is the only Canada Post service that does include a signature. It is automatically included whether you purchase the label on eBay or on another site. There is no
''box' to check off to add a signature because it is already included.
But even though a signature is included, you may want to purchase the label where you purchase extra insurance and as @intimewithmusic said that may not be possible on eBay. Before paying extra in insurance, make sure that currency is covered by Canada Post insurance. If not, you may want to look into sending via a courier if there are any that will insure currency.
As far as whether duty is charged after $800, I have no idea how it works with currency. But even if bills are dutible in the US, customs does not always collect it so it would be difficult to give a definite answer. It really would be best for a US buyer to contact their own customs department.
treadstone68
OP2 years agoWouldn't insurance really be the choice of the person that bought the item?
marnotom!
·2 years agoNope. eBay’s Money Back Guarantee program is all the insurance the buyer needs. If an item doesn’t arrive or it arrives damaged, eBay ensures that the buyer receives a refund, usually from the seller. If the seller purchased insurance for the shipment, they then file a claim with the insurer and cross their fingers and toes.
intimewithmusic
·2 years agoIf we are talking about an item with an $800 value you definately need insurance. As dinomitesales points out you may not be able to get that much insurance at Canada Post. All of the sellers have a different approach. some "self insure" and they set aside a small portion of each sale to go towrads lost or damaged items.
On expensive items self insurance would be fairly painful if you are out $800 plus shipping. If your location is in a large matro area you have options that in Kelowna I do not have. this is why I suggest you look into Fedex and/or other delivery services that handle a lot of high value quick delivery items.
As far as insurance goes you can ship CP but buy the insurance from a 3rd party. Other sellers here do that. If you choose Shippo you can ship CP, get a discount close to what eBay offers and get their 3rd party insurance which comes from "X Cover". Like I said before every insurer has different requirments for packing. If you don't have insurance or your item is not packed to standards you are basically riding your motorcycle without a helmet. Here is some recent info (stripped of HTML) from X Cover about shipping collectibles.
Depending on your location you should get some advice from sellers in similar locations.
"
We’ve clarified our coverage terms to better address limited, rare, and collectable items. Your coverage terms now state:
“Limited edition, rare and collectable Items: even minor Damage may cause the Item to lose all or much of its value. Claims for these Items will be assessed by an expert and We reserve the right to propose a buyout settlement in case We are unable to agree on the value after the Damages and the Item repairability.”
- Your coverage terms now include comprehensive packaging guidelines to ensure you get the most out of your coverage. Make sure to get pictures of the packaging the item is received in, as you’ll need to submit this with your claim. Claims for inadequately packed items will not be covered.
- We’ve introduced new claim submission windows to streamline the claims process and ensure timely submissions. Make sure to submit your damage claims no later than 30 days (60 days for international shipments) after the shipped date.
Please keep in mind that we also have submission windows for lost and stolen shipments. Claims for shipments marked by the carrier as “delivered” must be reported within 10 days of the reported delivery date, and claims where the status is “not delivered” must be reported no later than 30 days (60 days for international shipments) after the date the shipment is accepted by the courier.
If your shipment is lost or damaged, please file a claim before investigating with your carrier to make sure you don’t miss the submission window. If you receive additional information from the carrier, you’ll be able to add it to your claim.
intimewithmusic
·2 years ago@treadstone68
Some things written in to this;
"Your coverage terms now include comprehensive packaging guidelines" You ship fragile items so obviously you already pack well but it doesn't matter. . Many of the disputes over claims are because the shippers packaging didn't meet the insurer's specs. For example one insurer won't insure you if you use eBay tape on the outside or if anything on the outside eludes to the contents regarless of how well the item was packed.
"Claims for shipments marked by the carrier as “delivered” must be reported within 10 days of the reported delivery date, and claims where the status is “not delivered” must be reported no later than 30 days (60 days for international shipments) after the date the shipment is accepted by the courier." This requirement is contrary to eBay's requirements. For example if the item is damaged in transit the buyer has a long time to report it to eBay but you probably won't know within the insurer's "10 days". I'm not sure how long they have to tell you as you have your setting set to "No Returns". Someone else might know????
intimewithmusic
·2 years agoSorry, I'm not experienced in shipping currency but here's some general info. I think the best advice will come from one of the sellers in currency.
Personally, on an $800 small item I would be inclined NOT to use eBay labels due to their limited options. At the same time you want eBay Seller Protection. to get that you need proof of delivery and a signature. The signature itself may have an age parameter attached. (Adult) the address may need to be specific and not a PO Box. Just guesses.
Before buying an eBay label it would be good to check with Snap ship or go in to your postal outlet with your Canada Post small Biz account number.
*Snap Ship has signaure, insurance and delivery options not offered by eBay.
* also examine Shippo. They have options that CP doesn't offer like insurance on porch piracy and return labels if needed from the USA back to Canada.
*Another consideration is the time it takes to deliver your item. A fast delivery reduces losses. Fedex overnight or UPS services might be costly but better than CP. I would go to Fedex or UPS for the label with it's bells and whistles (not eBay). If there's a problem eBay isn't part of the equation.
Again, I think advice from one of the currency sellers will answer your question but on an $800 small sized item I wouldn't recommend trying to save on shipping. I would go fastest possible delivery, fully insured, adult signature required either at the residence or the place of pickup.
Be sure to follow the packaging rules for the item. Each courier is different and photograph the unpacked contents and the packed package. Don't forget to upload the tracking number to eBay.
I usually send both pictures with a "Good News! Your item has been shipped!" message to the buyer on the day I ship. Then they can see what is in the package and what the package should look like upon delivery.
There are too many reasons for doing this to explain here.