Taking cash/gold/pm's out of country

Hey all,

Not sure if this has been discussed in other forums or not, but couldn't seem to locate anything. So here it is: I know that if one wants to take any more than $10K out of the country, that it must be declared. So let's say I wanted to take 100 1 oz. gold eagles out of the country, what would I declare, if anything? The 'legal tender' value of these coins is $20. so it seems to me that according to a literal translation of the law, I am only taking $2K ($20. ea. x 100) out? Is this correct? Same question for silver eagles.

Theoretically, I could take as much as 499 gold eagles out without having to declare the over $10K cash?

Opinions? Perspectives? Legal ramifications?

Thanks!!!!