Bitcoin Forum

Fellow holders,

I am a slow stacker into cold storage.  I hate paying taxes and being tracked as much as anyone else.  I have traveled with a cold storage device but this is different situation.  I am potentially traveling to buy a funded Casascius coin, as a collector item.  

 Does CBP consider this a bearer instrument?  I am 99.91% sure it will not apply, but was hoping to find something in writing one way or the other.

I can't find any case law or precedent on whether a loaded Casascius coin is considered a bearer instrument.

I also know that the money "isn't on the coin etc."  With the civil asset forfeiture laws, the risk seems high.

Anyone have any links to something credible I can reference?  Thanks for the help, below is the CBP fine print about what "counts"

I really appreciate the help!

U.S. or foreign coins and currency;
2) Traveler checks in any form;
3) Negotiable instruments (including checks, promissory notes,
and money orders) that are either in bearer form, endorsed
without restriction, made out to a fictitious payee, or other-
wise in a form that the funds can be transferred to another
person;
4) Incomplete instruments (including checks, promissory
notes, and money orders) signed, but with the payee’s name
omitted; and
5) Securities or stock in bearer form or otherwise in a form that
the funds can be transferred to another person.
However, the term “monetary instruments” does not include:
1) Checks or money orders made payable to the order of a
named person which have not been endorsed or which bear
restrictive endorsements;
2) Warehouse receipts; or
3) Bills of lading

I can't offer any legal advice but I'd just act as if it was a novelty coin you have as a gift. (Nothing with large value). I also wouldn't claim it when asked if I have anything to claim. Its relatively new and Most people have no idea what Physical Bitcoin is even if they know what bitcoin is. I wouldn’t worry at all about it.

it most likely wont be an issue or noticed if its just one coin.

For your protection though, have the seller give you some form of receipt or bill of sale.  This will give proof that you are the owner and where you got it from, if questioned its origins. Their goal is to find crimes or dangerous items. Id be prepared with at least that information. You don't want them trying to claim it as terro . rist funded or something crazy. They will take it. Don't bring attention to it and don't show the bill of sale unless you have to prove ownership.
 

 Saw a similar post on REDDIT....answers given might be helpful.

  https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.reddit.com/r/Bitcoin/comments/1eoittp/if_you_fly_into_the_usa_with_a_casascius_coin/&ved=2ahUKEwim3PrJkPSHAxVFC3kGHQe5A3AQFnoECBEQAQ&usg=AOvVaw3d01vzzj0OL6_oO8LVuJVg

I agree with Caribbean. I wouldn’t have the coin like all protected in some special case all by itself make it look as normal as street change as possible, while in America, maybe try stopping by Chuck E. Cheese and get some Chuck E. Cheese tokens and mix it together.   J/k

Not entirely related but I thought I would post it anyway, In my country the customs department
class collectible BTC coins as "Collectible Medals" or "Medals", thats what I have experienced
when receiving coins.

I guess they cant check if a collectible has a particular value or even if its "Loaded" or not. The
chances are that they dont even know it can be "Loaded"

I am leaning towards Kaz’s answer. Claiming it as basically nothing and novelty is the way to go, buy some like states quarters booklets and coin holders from Littleton coin collection and like some Bitcoin $2 bills and say you’ve got it for your nephews birthday or something like that. They will never suspect anything. Everyone knows about Bitcoin, if all else fails and they question you just school them on bitcoin until they tell you to shut up hahahah

There have been new laws put in to place regarding crypto funded items I’ve seen posted recently. I’ll try to look this up for you.  The US is not a huge worry overall..we are a huge country that’s very populated and airport flow is a priority ..so just don’t give them a reason to question you, but say if India is going to be one of the countries on this coins travel list ..then that’s a worry!!

Tips - Dont smell like anything illegal (only time I’ve been stopped by US customs is a dog smelled my bag which had weed in it a week or so prior).  Don’t carry any precious metals if possible. A lot of countries are hard up for their VAT tax bs. So if you throw the cas in a coin bag, just have it filled with US pennies, quarters, dimes and nickels (dimes and quarters prior to 1964 are “junk silver” ..fyi..tho highly unlikely you’ll be passed any here when being given change at a vendor of any kind or any currency exchange)

Cheers

Btw- some great advice (doesn’t totally fit, but kind of lol) - https://youtu.be/eouxp3zmJdk?si=MNE3wyZL851Y2YZ4