Fellow holders,
I am a slow stacker into cold storage. I hate paying taxes and being tracked as much as anyone else. I have traveled with a cold storage device but this is different situation. I am potentially traveling to buy a funded Casascius coin, as a collector item.
Does CBP consider this a bearer instrument? I am 99.91% sure it will not apply, but was hoping to find something in writing one way or the other.
I can't find any case law or precedent on whether a loaded Casascius coin is considered a bearer instrument.
I also know that the money "isn't on the coin etc." With the civil asset forfeiture laws, the risk seems high.
Anyone have any links to something credible I can reference? Thanks for the help, below is the CBP fine print about what "counts"
I really appreciate the help!
U.S. or foreign coins and currency;
2) Traveler checks in any form;
3) Negotiable instruments (including checks, promissory notes,
and money orders) that are either in bearer form, endorsed
without restriction, made out to a fictitious payee, or other-
wise in a form that the funds can be transferred to another
person;
4) Incomplete instruments (including checks, promissory
notes, and money orders) signed, but with the payee’s name
omitted; and
5) Securities or stock in bearer form or otherwise in a form that
the funds can be transferred to another person.
However, the term “monetary instruments” does not include:
1) Checks or money orders made payable to the order of a
named person which have not been endorsed or which bear
restrictive endorsements;
2) Warehouse receipts; or
3) Bills of lading