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American arrested in Mexico for possessing gold

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brian0918

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An American man was arrested at a Mexican airport for possessing 150 gold coins, and the coins have been confiscated. He was trying to deposit them in a bank in Panama. It was certainly stupid for him to transport them that way, given the government corruption in Mexico.

What I find odd is the government/media trying to paint it as some sort of drug bust. They have a big photo of the coins laid out with a federale standing over them, and the news article randomly mentions the total weight of the coins ("five kilos, 33 grams") as if that somehow makes it more like a drug bust. I guess they're just trying to justify the fed's actions.

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I wonder what would have happened at an American airport.

Edited by brian0918
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I wonder what would have happened at an American airport.
I know that one has to make a declaration to U.S. Customs if one is coming in with more than $10,000 in the form of cash or "monetary instruments". Not sure if gold counts there.

Separately,...

Gold coins, medals and bullion, formerly prohibited, may be brought into the United States. However, under regulations administered by the Office of Foreign Assets Control, such items originating in or brought from Cuba, Iran, Burma (Myanmar) and most of Sudan are prohibited entry. Copies of gold coins are prohibited if not properly marked by country of issuance.
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I know that one has to make a declaration to U.S. Customs if one is coming in with more than $10,000 in the form of cash or "monetary instruments". Not sure if gold counts there.

Note that I was asking what would *actually happen*, not what the policy says. Those tend to be two entirely different things. ;)

Edited by brian0918
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What I find odd is the government/media trying to paint it as some sort of drug bust. They have a big photo of the coins laid out with a federale standing over them, and the news article randomly mentions the total weight of the coins ("five kilos, 33 grams") as if that somehow makes it more like a drug bust. I guess they're just trying to justify the fed's actions.

Gold, the Opiate of the Objectivists!

Seriously... I suspect the five containers' worth of coins on our right are products of the US mint, either "eagles" or those Buffalo 1 oz pieces. A tube like that generally contains 20 coins, one of the eight tubes clearly only had ten coins in it.

I didn't know gold was illegal in Mexico.

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