bringing bullion coins into the PH

[TommyGunn]

hello all.  new member; been living in Makati since 2016.  was recently awarded my 13 visa (woot!).

searched the forum and only came across one 2yo thread that was obtusely related to my question so felt it allright to start this one.

i am traveling back to the States next month and want to bring some gold & silver bullion coins I've been keeping there back with me (value > $10k).

has anyone on here actually done this before?   if you actually do have first-hand experience doing this, please reply with what form(s) you were required to complete and any other helpful related info.  

now i know there are many here who enjoy being helpful by speculating on 2nd hand knowledge and the like....but please refrain from responding to my question if you have not actually brought in bullion coins, and declared them yourself.  this sort of info is as useful to me/others  as is trying to get clarity on this from BSP (sigh).  

thank you all.  keep safe.

[Old55]

Welcome to the forum TommyGunn.

I have no personal experience importing bullion coins into Philippines. I do know you must declare money over $10,000 USD. Bullion coins would be considered money.

Have you contacted US customs? They would most likely be able to answer your questions. Yes, I understand you are importing into Philippines not the USA. Amounts over $10,000 would fall into Money Laundering laws.

 

[Jollygoodfellow]

2 hours ago, TommyGunn said:

now i know there are many here who enjoy being helpful by speculating on 2nd hand knowledge and the like....but please refrain from responding to my question if you have not actually brought in bullion coins, and declared them yourself.  this sort of info is as useful to me/others  as is trying to get clarity on this from BSP (sigh).  

You wont find many who have imported coins but google says,

 

Foreign Currency
A person may carry up to the amount of USD 10,000 (or equivalent in any other foreign currency), in cash or other monetary instruments, into and out of the Philippines. Other monetary instruments include travellers’ checks, other checks, drafts, notes, money orders, bonds, deposit certificates, securities, commercial papers, trust certificates, custodial receipts, deposit substitute instruments, trading orders, transaction tickets and confirmation of sale/investment.

If a person wishes to bring more that the equivalent of USD 10,000, a written declaration must be made in the form of the BSP’s “Foreign Currency and Other FX-Denominated Bearer Monetary Instruments Declaration Form” which may be downloaded from Bangko Sentral ng Pilipinas.

https://www.philembassy.no/travel-info/bringing-currency-into-the-philippines

Form to present to customs

https://www.bsp.gov.ph/Regulations/MORFX/Annex K (cir794_2013).pdf

Contact BSP

https://www.facebook.com/BangkoSentralngPilipinas

[TommyGunn]

lol, thanks to the usual suspects....but again, i wanna hear from people who have actually muled in this shit.

all this info posted above is duh

 

[TommyGunn]

EDIT: i thought it was implied in my joke about BSP, but yes...i have contacted US Customs and BSB here (who owns this) and neither has responded.  Hence, why first-hand experience is gold (pun intended)

[Jollygoodfellow]

2 hours ago, TommyGunn said:

lol, thanks to the usual suspects....but again, i wanna hear from people who have actually muled in this shit.

all this info posted above is duh

 

Well we like to help but you dont appreciate so good luck finding someone who has carried heavy coins on a plane and the info is clear so if you need someone to hold your hand you wont find it here.

[Gator]

7 hours ago, TommyGunn said:

Hence, why first-hand experience is gold (pun intended)

I’m bringing one with me. American Eagle. Will post if I do find a dealer who’ll buy it. But it might take a few weeks as it’s not high on my list of priorities.  

Edited January 20, 2022 by Gator

[Old55]

LOL, Tommy. In the past we've had one or two new members who attempted to school us how or how not to answer their question. Not how it works. Our rules not your games.

You have a clear answer most likely you knew it already. There is no back door to money laundering laws. Deal with it. 

 

Edited January 20, 2022 by Old55

[Snowy79]

On 1/20/2022 at 7:51 PM, TommyGunn said:

lol, thanks to the usual suspects....but again, i wanna hear from people who have actually muled in this shit.

all this info posted above is duh

 

If you've lived in the Philippines long enough you'll know that information from the Embassy and Bangko Sentro ng Pilipinas is as good as you'll get. Anecdotal information from those who did it will depend on who questions them at customs and what side of the bed they got out. Get the rules, print them off and carry them with you. 

[baronapart]

He lost me at TommyGunn...