Everything You Need to Know about Flying Internationally with Gold Bars

The short answer is yes, you can travel internationally with gold bars. However, there are some things to keep in mind. For instance, some countries may require you to fill out declaration forms or pay customs or import fees to bring your gold bars to other countries. Here are some things to keep in mind when it comes to international travel with gold bars on a plane, brought to you by the experienced professionals from First National Bullion. San Diego residents can rely on us for expert advice about every aspect of owning precious metals.

Have Proof of Purchase with You

If you’re traveling with a lot of gold bars, customs officials may get a bit suspicious. For this reason, it’s a good idea to take proof of purchase (invoice or receipt of payment) with you when you travel with gold bars.

Traveling to the United Kingdom with Gold Bars

In the United Kingdom, you don’t have to declare your gold bars. However, you’ll need to declare them if you plan to sell them in the UK. Customs agents will determine whether or not you’re obliged to pay duties charges.

Do Your Homework when Traveling with Gold Bars

Many countries don’t impose customs fees or duties on gold bullion. On the flip side, many countries do. For instance, India has a 12.5 percent import tax on gold coins and bars. In Australia, travelers 18 and older can bring in up to $1,000 AUD worth of gold duty-free into the country. In Canada, you must provide detailed information to the Canada Border Services Agency (CBSA) on Form B3. In Mexico, you must declare the items to Customs and Border Protection (CBP) officers. If you’re traveling with more than $10,000 worth of gold, you need to fill out a FinCEN 105 declaration form.

These are just some examples of rules you need to be aware of when traveling internationally with gold bars. Each region and country has different rules and expectations when it comes to importing bullion. Get in touch with foreign offices and customs departments to make sure you’re up to date with regulations.

Flying Back to the United States with Gold Bars

According to the United States Bureau of Customs and Border Protection, you don’t need to pay duty on gold bullion, including bars and coins. However, you must still declare the items to Customs and Border Protection officers. If traveling with more than $10,000 worth of gold bars, you need to fill out a FinCEN 105 declaration form. If you sell your gold bars internationally, be aware you may need to declare the cash you make from such exchanges. If you earned more than you paid for the bars, you’ll also need to fill out tax forms in the U.S. if this is where you purchased the bars.

Keep an Eye on Your Bag

You probably want to keep your gold bars with you as you travel internationally. If you do keep your gold bars in your carry-on, keep an eye on your bags. Also, don’t let too many people know you’re traveling with gold bars. You may want to take out insurance on your gold bars just to be on the safe side.

For information on any aspect of buying, selling, and owning precious metals, call on the experts at First National Bullion and Coin. If you’re interested in buying San Diego gold and bullion, you can trust our reputable dealers. We’re a boutique precious metals firm with experienced professionals, so if you’re looking to add gold or other precious metals to your assets, call us today.

The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.