rudder wrote:For Option number 2...Has anyone ever carried silver bullion into Peru? Is it necessary to declare the amount I plan to take (12oz)? Will the customs officials in the airport arrest me, steal my silver, and/or charge me some exorbitant tax or any other unfortunate scenario?
I don't really know but I would like to. I can tell you the following.
1) Precious metals are sometimes stolen by US officials when you exit the US. There is nothing illegal about taking the metal out but they can do anything they want, there is no way to tell what they will do and there is no effective recourse.
2) Importing silver, in any form, into Peru is supposed to be subject to 24% tax. IVA: 18%, excise duty: 6%. In such a small quantity, it might be exempt as personal effects; I don't know.
That said, I have brought silver coin (more than 12 ounces) from the US to Peru without declaring it and without any problem happening. That does not guarantee that there will not be a problem next time.
I have thought of bringing in some silver (or gold) and declaring it as an experiment just to see what would happen. But I am afraid doing so it might just attract attention and cause problems.
You will have a hard time finding any place to sell silver in Peru that will give you a decent price. You might have to take 30% below spot. Your best bet might be to find an expat who would like to buy a little silver.