[Question] Customs wants to include the load value in their costs.

[mortare]

As a collector located in Europe, I import items from all over the world.
Today, I received an email from customs stating that they have included the load value of a collectible coin in their costs.
Has anyone experienced this before, and how did you handle it?
In my opinion, this is total nonsense.
It’s like putting my bank account number on a piece of plastic. That doesn’t suddenly make the piece of plastic worth the value of my bank account, or am I legally wrong?

[krogoth]

 Wouldn't a loaded item be considered like a bearer bond? Unlike just an account number whomever holds the physical Bitcoin is the only one with access to the Bitcoin...so it's kind of like cash in a certain way . An account number will not give you access to your money without other steps

[MoparMiningLLC]

I have heard this but then at the same time, it is sort of shitty that they want to charge you for that value but no carrier will cover the cost of the load if it is lost.

[krogoth]

I have heard this but then at the same time, it is sort of shitty that they want to charge you for that value but no carrier will cover the cost of the load if it is lost.

  I completely agree bro....I assume this is for the Satori?

   If I was to receive a loaded item from a fellow collector I would make sure never to reveal anything about any load.  But then again I have not done that a very long time as I would not trust any type of item in mail

[bitbollo]

Hi Mortare,
It has no sense and I had a similar discussion with customs in my country (EU).
I don't know if this can fit to you.
Anyway in the end, here btc are taxed once sold for FIAT. In any case these can't be added in custom fees but only on "item" itself (like metal token and so on).

I would also say....
The loading inside these coins are your coins if you can proove source of loading/funding.
There is no custom law that should request some one to pay a tax on "loading" (at least here in my country).

Plus... there is a loading? Are they sure there are satoshi inside? They look below the holo ?
How that could be possible that you had to pay some tax in something that could not even been there?

[mortare]

I have items shipped to me every few months, and I’ve never encountered this issue before. In the past, I usually stated that the items were gifts rather than purchases.
This inquiry is indeed about the Satori. They asked where I had purchased it, so I provided them with the Satori website.
They obtained all the necessary information from there, including details about the items being sold preloaded.
Thank you, Bitbollo, for your insight; it provided a lot of useful information.
I suppose I’ll be sending more emails to them in the coming days.

[philipma1957]

I have items shipped to me every few months, and I’ve never encountered this issue before. In the past, I usually stated that the items were gifts rather than purchases.
This inquiry is indeed about the Satori. They asked where I had purchased it, so I provided them with the Satori website.
They obtained all the necessary information from there, including details about the items being sold preloaded.
Thank you, Bitbollo, for your insight; it provided a lot of useful information.
I suppose I’ll be sending more emails to them in the coming days.

Hmm I have  this

https://bitcointalk.org/index.php?topic=5561234.0

Unloaded and stuck in customs usa. For a few days.

I wonder if they will ask if it is loaded.

The card has a visible bc1 Addy so they can check it.

In my case if this card comes to usa do not load It as it travels.

I was thinking of loading it the day I purchased it.. I decided to wait since it is cash/btc to whomever holds it.

[aoluain]

As a collector located in Europe, I import items from all over the world.
Today, I received an email from customs stating that they have included the load value of a collectible coin in their costs.
Has anyone experienced this before, and how did you handle it?
In my opinion, this is total nonsense.
It’s like putting my bank account number on a piece of plastic. That doesn’t suddenly make the piece of plastic worth the value of my bank account, or am I legally wrong?

Well thats a game changer, I am also in the EU and I have never been charged
for load value of an item. In my country customs state that tax is due on any
item coming in from outside the EU and that tax is based (calculated/estimated)
on "the value" of the item, so maybe they are sitting up and taking more notice of
Bitcoin/crypto collectibles - if thats the case it sucks.

Hi Mortare,
It has no sense and I had a similar discussion with customs in my country (EU).
I don't know if this can fit to you.
Anyway in the end, here btc are taxed once sold for FIAT. In any case these can't be added in custom fees but only on "item" itself (like metal token and so on).

I would also say....
The loading inside these coins are your coins if you can proove source of loading/funding.
There is no custom law that should request some one to pay a tax on "loading" (at least here in my country).

Plus... there is a loading? Are they sure there are satoshi inside? They look below the holo ?
How that could be possible that you had to pay some tax in something that could not even been there?

I wonder are they applying tax based on the value stated on the collectible like
if it says on a coin 0.001 they automatically apply vat on that regardless?

[philipma1957]

As a collector located in Europe, I import items from all over the world.
Today, I received an email from customs stating that they have included the load value of a collectible coin in their costs.
Has anyone experienced this before, and how did you handle it?
In my opinion, this is total nonsense.
It’s like putting my bank account number on a piece of plastic. That doesn’t suddenly make the piece of plastic worth the value of my bank account, or am I legally wrong?

Well thats a game changer, I am also in the EU and I have never been charged
for load value of an item. In my country customs state that tax is due on any
item coming in from outside the EU and that tax is based (calculated/estimated)
on "the value" of the item, so maybe they are sitting up and taking more notice of
Bitcoin/crypto collectibles - if thats the case it sucks.

Hi Mortare,
It has no sense and I had a similar discussion with customs in my country (EU).
I don't know if this can fit to you.
Anyway in the end, here btc are taxed once sold for FIAT. In any case these can't be added in custom fees but only on "item" itself (like metal token and so on).

I would also say....
The loading inside these coins are your coins if you can proove source of loading/funding.
There is no custom law that should request some one to pay a tax on "loading" (at least here in my country).

Plus... there is a loading? Are they sure there are satoshi inside? They look below the holo ?
How that could be possible that you had to pay some tax in something that could not even been there?

I wonder are they applying tax based on the value stated on the collectible like
if it says on a coin 0.001 they automatically apply vat on that regardless?

If it has an obscured address and says 0.001 how do you prove it was not loaded.

So this type of design with a bc1 btc addy is good.


https://bitcointalk.org/index.php?topic=5561234.0

These show full addy. So it is easy to prove they are empty.

But any coin or card with a covered addy and a listed value they can likely charge you the listed value.

since you would need to reveal addy .

My guess is designs will be showing the addy

[goldlyre]

Same question for me. In recent 5 years, I've paid tarrif for about one third of those
loaded items because I have to obbey regulations to make a self declaration. As per
the remainder two thirds, they'd been auto cleared from local Customs.

[elmejorrematador]

if it is loaded and whomever is in possession of the coin can redeem it, then its worth whatever value it is loaded with.

[haloxon]

if it is loaded and whomever is in possession of the coin can redeem it, then its worth whatever value it is loaded with.

you need to have the redeem kit to redeem the coin. just the coin is not sufficient.