A thought about CRH Canada

[Cherryman68]

Being in Texas it really does not apply to me but has anyone considered the legal problems that might come with crossing the border to do what we do?

For example. I assume you will have to open an account somewhere to do your dumps. Being an American citizen and not living in Canada might raise a red flag from the get go but making large deposits and converting it back to American funds might send up a big red flag at the IRS and homeland "security.".

Nothing about it is against the law BUT you might have a lot of explaining to do that will cost a lot of time and maybe money to make big brother believe that.

Another problem could be getting flagged as a terrorist and being prevented from crossing the border and having your accounts frozen for "suspected terrorism funding". This could be done on both sides of the border and leave you in a pickle.

Like I said I don't have to worry about it but would hate to see one of you fine folks caught in a legal jam over a hobby.


Thoughts?

 

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[DAS7NY]

Funny you mentioned this! My coin dealer is one of the largest dealers on the east coast. Whenever I go there he always has tons of knowledge and stories to share! One of them had to do w/ him starting out in the coin business by CRHing. Him and a bud rented an office in Canada and hired women to go through coins with magnets. They supplied the coins. Any coins that didn't stick to the magnet were silver. He'd put the bags of silver coins in his car and drive them across the border to the U.S. One time though, he got stopped and searched. Even though this was legal, the officers confiscated the coins, and put him in jail for the weekend. The officers were never faced with this, so they kinda had to idea what to do. After the weekend they let him go. But they held the coins. It took him 2 years in court to get the coins back. He said it kinda worked out well, because silver had gone up within those 2 years! lol He was legally pardoned too, because he didn't do anything wrong. I thought it was interesting how he had such a large CRHing operation in Canada. He was written up in coin world a few times about this too. Really great guy!

 

[Rich Hartford]

Being in Texas it really does not apply to me but has anyone considered the legal problems that might come with crossing the border to do what we do?

For example. I assume you will have to open an account somewhere to do your dumps. Being an american citizen and not living in canada might raise a red flag from the get go but making large deposits and xonverting it back to american funds might send up a big red flag at the IRS and homeland "security.".

Nothing about it is against the law BUT you might have a lot of explaining to do that will cost a lot of time and maybe money to make big brother believe that.

Another problem could be getting flagged as a terrorist and being prevented from crossing the border and having your accounts frozen for "suspected terrorism funding". This could be done on both sides of the border and leave you in a pickle.

Like I said I don't have to worry about it but would hate to see one of you fine folks caught in a legal jam over a hobby.


Thoughts?
As an American citizen you can open foreign bank accounts. I have. If you are not breaking any law then you don't have anything to worry about.
Your friend may have run into trouble because he may have exceeded the limit of money Canadian law allows you to take out of the country.
Red Flags, Terror watch lists, Homeland Security, being questioned, so on and so forth.
Real Americans, are not supposed to fear these things, because they educate themselves, and know what their Rights are.
People really need to wake up, throw out the TV, start reading, and go out and meet their neighbors, and stop being afraid.

 

[Cherryman68]

Rich,

I'm sure you didn't mean for your message to read as harsh as it sounded, but really I was just tring to look out for people like you close to the border.

I was not intending to frighten any one I was just thinking about it and had not seen it brought up yet.

Sorry if I am out of line.

 

[Rich Hartford]

Didn't intend to be harsh. I had just finished rereading the "Goodbye post" and that might have got me going.

Best,

Rich

 

[Cherryman68]

Lol understood

 

[mistergee]

some good points here. just my 2 cents. what if you just UPS (or CPS ) the coins back to the states that way you avoid the border hassle and the worst is the coins are confiscated but your home safe? i don't know the laws on something like this but i would think it would save you the hassle of being detained because someone didn't know what to do with you.

 

[Cherryman68]

Fri Oct 23, 6:18 PM


VANCOUVER (CBC) - A man who tried to enter B.C. from the United States with about $1 million worth of gold coins and cash may face criminal charges, Canadian border officials say.

The man whose name has not been released tried to enter the country through the Peace Arch crossing in Surrey, B.C., on Oct. 6. The Canada Border Services Agency said Canadian gold coins found were in a chest in a duffle bag.


It's a crime to carry more $10,000 in undeclared funds into Canada, and investigators say charges could be laid under the Proceeds of Crime and Terrorist Financing Act.

"[We are] continuing our investigation into the funds themselves, the source of the funds and their intended use," RCMP Insp. Paul Richards of the Integrated National Security Enforcement Team told CBC News on Friday.


Border officials said the alleged smuggler is a foreign national but would not say which country he is from. He remains in custody.


The Peace Arch crossing is about 40 kilometres south of Vancouver.