Tariffs Bring Market Turmoil
New U.S. tariffs are shaking up the numismatic world, affecting international coin transactions and introducing uncertainties for collectors and dealers alike.
Domestic and world markets continue to be in turmoil as this commentary is written. This is due to the many rapid-fire tariff changes being made and then tweaked by the executive branch of our government. These shifting policies are impacting the discretionary money available to purchase coins and many other discretionary items and services. That part is obvious.
What is not as obvious is that the many tariffs now being implemented are also impacting what collectors will pay to purchase a coin that is currently in another country. This means that if a $20 double eagle coin is in an auction in England, it will likely be subject to a tariff (and possibly also to a Value Added Tax) if that coin is to be shipped to a successful bidder in the United States.
These tariffs will impact all such scenarios, whether foreign, ancient, or U.S. coins abroad. As it was explained in a February issue of USA Today: “Coins already in the United States and sold to buyers outside the United States continue to be subject to regulations of the buyer's home country. Coins purchased by U.S. buyers from dealers or auction houses abroad will be subject to U.S. tariffs, even if those coins were consigned to the sellers by collectors or dealers in the U.S.”
In early April, Classical Numismatic Group added, “If coins are sent from the U.S. to other countries, they are subject to U.S. tariffs if they are returned or sold back into the U.S. U.S. collectors will need to think carefully before sending coins abroad, whether on consignment or for any other reason.” Tariffs are being implemented and then tweaked. We have yet to see how coins will truly be impacted.
