How much tax or duty do I pay on a Canadian silver dollar

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Hot Brass
Posts: 81
Joined: Wed Mar 06, 2013 8:59 am
Location: Ontario,Canada

How much tax or duty do I pay on a Canadian silver dollar

Postby Hot Brass » Thu Mar 07, 2013 5:00 pm

Hi: Just wondering how much tax or duty I would have to pay for a Canadian silver dollar bought on E-bay from a U.S. seller (coin dealer),do I pay tax on what I paid ,let's say $150.00 U.S.? Thanks
p.s. This site is pretty dead!!

verdigris
Posts: 227
Joined: Wed Jan 09, 2013 11:51 am

Re: How much tax or duty do I pay on a Canadian silver dolla

Postby verdigris » Thu Mar 07, 2013 9:46 pm

I don't think you have to pay any, although you may have to cough up the PST (on a declared value such as what you're suggesting) depending on what prov. you're in.

Nevertheless, check out this link, it might be of some help: coincommunity.com forum


Cheers

Hot Brass
Posts: 81
Joined: Wed Mar 06, 2013 8:59 am
Location: Ontario,Canada

Re: How much tax or duty do I pay on a Canadian silver dolla

Postby Hot Brass » Fri Mar 08, 2013 6:46 am

Thanks! My first coin buy.

Bill in Burl
Posts: 422
Joined: Thu Sep 04, 2008 7:41 am
Location: Golden Horseshoe, ONT

Re: How much tax or duty do I pay on a Canadian silver dolla

Postby Bill in Burl » Sat Mar 09, 2013 5:44 am

It depends on whether you live in Canada or the US. If, living in the US from a US dealer, you pay nothing .. likewise if you live in Canada from a US dealer, there is normally no tax from the dealer's standpoint. However, if you live in Canada and buy from a US dealer, then Revenue Canada will get their mitts on you. You may have to pay a custom's duty to start with ($25 whether RCA opens the envelope or not).... some things get through, most don't. This will be on top of the extra postage you will have to pay to the vendor for having to fill out a Custom's Declaration and increased mailing costs. Then RCA will charge you PST on top of it all. For a $100 coin, if RCA gets their hands on you, you will easily exceed 50% of the purchase price of the coin, just from the mail cost, custom's duty, and Canada tax .. just for getting it across the border.
Bill in Burl

Hot Brass
Posts: 81
Joined: Wed Mar 06, 2013 8:59 am
Location: Ontario,Canada

Re: How much tax or duty do I pay on a Canadian silver dolla

Postby Hot Brass » Sat Mar 09, 2013 10:25 am

Thanks for that! I have a coin catalogue called "A Charlton Standard Catalogue Canadian Coins Volume One 67th Edition 2013". Are these prices retail or wholesale...also under the different versions of a particular coin there is a mintage number and all other varieties if this particular coin has"included" under the Mintage heading....can't figure out what that means? Thanks

Bill in Burl
Posts: 422
Joined: Thu Sep 04, 2008 7:41 am
Location: Golden Horseshoe, ONT

Re: How much tax or duty do I pay on a Canadian silver dolla

Postby Bill in Burl » Sat Mar 09, 2013 10:58 am

Those are absolute full retail prices in Charlton, as I put in a couple of your other thread starts. If you are going to collect coins, you need to study and be well informed. My mantra to new collectors has always been that the first 3 purchases should be books that you READ, not have on a table.... and by this, for Charlton, it means reading(and understanding) all the pages before the price listings even begin. Next, learn how to grade and grade well. You should prize your knowledge far more than your collection or what your dollars will buy. If you are somewhat confused over the relatively elementary items in Charlton, including mintages, I think that you need to spend a great deal more time on the 'knowledge' part of the hobby rather than the purchasing or mailing part of the hobby.
Bill in Burl


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