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Tips & Solutions
How to Ship Precious Metals (Gold)
Struggling to find a simple precious metal shipping method? Whether you're selling internationally or domestically, find a solution today
Are you looking at precious metal shipping options? This article breaks down the challenges you can face and the best options available to keep precious metals safe.
Can You Mail Precious Metals?
While transporting precious metals is prohibited by many carriers, some offer a shipping service under specific conditions.
One of the safest and most affordable to ship gold is the United States Postal Service (USPS) registered mail service. While it may seem tempting to use the insured mail option for packages under $5000 in value, this doesn't cover precious metals.
Registered mail is specifically designed for safely storing and shipping high value items. These packages have to be manually processed at the post office, with an employee overseeing receipt of the package.
Registered mail uses a chain of custody process, offering end to end secure storage. The next best to storing your precious metals in a home safe. It is even used by the diamond industry and U.S. government for secret documents.
Additionally, insurance can be purchased for each registered parcel, covering up to a $50,000 declared value. In contrast, other carriers don't offer insurance for precious metals, unless you use a third party company for an insurance policy.
Downsides of USPS Registered Mail
While registered mail is one of the safest and most secure ways to ship gold, there are a few downsides to take into consideration.
- Delivery speed. While safely storing your gold and other valuables, these extra security measures mean it slows down service. There is no estimated delivery date regardless of class
- Extra Paperwork. You will need to fill out a Postal Service Form 3806. However, this registered mail receipt is straightforward and you can copy the address on the box
- Drop off. Unfortunately, pick up is not available and you will have to drop the package off personally
- Specific packaging. The package must be tamperproof and the tape must absorb ink and damage easily. You can find a full breakdown here
- Shipping internationally. International registered mail is stored in security safes in the U.S. However, once it arrives in the destination country, it is handled according to their own internal procedures
Related post: How to Ship Jewelry: Shipping Jewelry Safely and Cheaply
How to Ship Gold Internationally
Shipping gold internationally through a private carrier is possible. However, you may need to work with an extra third-party company to insure the packages within the carrier's network.
A commercial invoice will also be required for international shipments, detailing the value of the gold item, plus the item will also have to packaged correctly to meet insurance requirements. These will vary by carrier and insurance provider, so it can pay off to double-check the packaging requirements with both.
Some premium couriers may also offer full liability for your goods whilst they are in transit. For example, Malca-Amit specializes in the secure storage and shipping of precious metals and valuable assets. Their secured delivery option offers 100% liability for the valuable goods shipped, underwritten by Lloyd's of London.
Benefits of Using a Private Carrier:
- Express services are available. Overall, the less time valuables are in transit, the better
- Offices and drop off points are available in most cities
- If there are customs issues, the carrier will work with you to get the package cleared
VAT, tariffs and duties
When shipping gold to another country, it is essential to know whether VAT, duties or tariffs will apply to the package. Each destination country will have its own specific requirements.
If you are shipping to a company that rents safe deposit box space, they may have experience shipping from your origin country and can advise on tax and duties. They may offer to co-ordinate shipping and safety deposit boxes for you at a flat rate.
How Are Precious Metals Shipped?
To reduce the chance of damage by poor packaging, find a box that is strong enough to with stand the weight of your gold or silver. Shipping supplies like corrugated cardboard is strong and will cushion your items, while any spaces can be filled with packing materials like newspaper, bubble wrap or foam blocks.
To keep your precious metals safe whilst shipping, place the secure box inside another outer box, again filling any space with packaging materials. If you're shipping coins or bars, a padded envelope is ideal. If there are multiple gold coins, look at taping them together to stop them moving around in transit.
Finally, tape your box up and weigh your package for your records. Insert a packing slip that clearly states the contents, the final customer's information and a return address. Remember to remove any reference to precious metals on the outside of your package.
Find Your Gold Shipping Solution With Easyship
From extra security measures slowing down delivery, to major carriers not shipping precious metals, shipping gold can present a series of challenges. If you are looking for a shipping consultant to guide you, reach out to the Easyship team today!
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Looking for a secure shipping method that will keep your precious metals packages safe? Sign up for a FREE Easyship account and start comparing solutions from over 250 couriers worldwide
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