Gold coins that have an estimated value of less than $1 million may be brought onto international flights without being assessed; however, for optimal security it should be packed in your carry-on luggage rather than checked baggage in case theft occurs.
Consider hiring a freight shipping company to transport your precious metals internationally over-the-road; that way, they are covered until reaching their final destination.
1. Weight
Weight of gold should be an important consideration when traveling with precious metals such as gold. Most airlines have weight restrictions for hand luggage and require that precious metals are secured in a suitable bag before being placed into check luggage. Before travelling it would be beneficial to get in contact with your airline as they will offer advice regarding weight limitations and regulations.
When transporting gold coins, make sure that they are declared at their true value for customs purposes. Doing this will help ensure you do not go beyond certain limits and incur heavy duty charges.
Gold should also be transported in hand luggage rather than checked luggage, due to possible mishandling by airlines that could leave it vulnerable to theft. Furthermore, once your flight has landed it may take time before receiving back your checked baggage.
2. Fineness
Fine gold is typically very pure, with no impurities that lower its value. This high purity contributes to its high cost.
Karat and fineness are two methods for measuring gold purity. Karat indicates the quantity of 24 carat gold content present within 24 parts, each higher number indicating less precious metal in that portion.
At its highest purity level is 999 or “four nines” fine gold used in Canadian and American bullion coins, followed by 917 which is used by British Sovereigns and South African Krugerrands. At 990 (also referred to as Ducat fineness), which is rare but still considered fine gold; historically seen on Venetian, Holy Roman Empire coins as well as modern Austrian and Hungarian ones – these rare pieces may also still technically qualify as fine gold coins.
3. Shape
Gold is an inexhaustibly intriguing substance, linking old with new, myth with science. Pirates once prized it as pirate loot, while now its components form key parts of microcircuits and its hue is used on astronaut visors.
Gold’s malleability is key to its appeal; an ounce can be transformed into sheets that measure 5 meters on either side, used for gilding. Furthermore, its malleability makes it one of the most ductile metals, capable of rolling into extremely thin sheets for art and jewelry creations. Furthermore, its resistance to corrosion makes it stand out among its counterparts; interestingly enough, freestanding clusters of 20 gold atoms form pyramidal shapes rather than typical spherical ones found elsewhere in nature.
4. Purity
When purchasing gold jewellery, purity should always be taken into consideration. Purity levels with higher resale values and more traditional aesthetics tend to command a premium; however, higher purity levels also come at a higher price point.
Gold purity can be assessed using two measures, known as karat and millesimal fineness. Originally developed to describe the percentage of pure metal found in an alloy, the former has since been superseded by millesimal fineness system.
Be mindful that any gold that exceeds the legal threshold must be declared and paid for at customs. Hiding any amount to avoid paying duty is against the law – keep all paperwork handy and submit an official declaration form as soon as you become aware.
5. Value
Gold has long been considered an item of great value in many forms: pirate treasure, microcircuit components and astronaut helmet visor coatings are just some examples of its many uses. Gold also symbolizes love as the pot at the end of every rainbow and universally recognized investments of unsurpassed worth.
If traveling from the US to India, gold bars and coins up to 1kg may be brought duty free as long as you comply with specific regulations. For more information click here.
Storing large quantities of bullion at home requires a safe with strong security features and in an inaccessible area that makes access difficult for intruders. You may also wish to consider depository storage options; while safety deposit boxes offer convenience, this could expose your precious metals to greater risks than one confidant would allow.
