About HS Code 710820
This code specifically refers to gold held by central banks or monetary authorities as part of a country's official reserves. It is typically in the form of large, standardized bars (e.g., Good Delivery bars) and is not intended for industrial use or jewelry manufacturing. The trade in monetary gold is primarily between central banks, international financial institutions, and authorized bullion banks. Key aspects include its role as a safe-haven asset, a store of value, and a component of national wealth, often influencing global financial stability. Transactions are typically large-scale and driven by macroeconomic factors, geopolitical stability, and monetary policy decisions, rather than commercial demand for fabrication. It represents a critical component of global financial infrastructure.
Products Under This Code
Central bank gold reserves, Gold bullion held by IMF, Good Delivery gold bars (held by central banks), Gold held in sovereign wealth funds, National treasury gold holdings
Real World Examples
Federal Reserve gold reserves, Bank of England gold vaults, European Central Bank gold holdings, IMF gold holdings, Deutsche Bundesbank gold reserves
Common Misclassification
This is distinct from unworked gold (710811) or semi-manufactured gold (710813) which are intended for industrial or jewelry use. The 'monetary' designation is critical.
Products Classified Under 7108.20
Industry
This code belongs to the Gems & Jewelry industry.
Trade Overview
The US, Germany, Italy, and France hold the largest official gold reserves, while major trading and storage hubs include London, New York, and Zurich.
Frequently Asked Questions
What is HS code 710820?
HS code 710820 covers: Gold, monetary. This code specifically refers to gold held by central banks or monetary authorities as part of a country's official reserves. It is typically in the form of large, standardized bars (e.g., Good Delivery bars) and is not intended for industrial use or jewelry manufacturing. The trade in monetary gold is primarily between central banks, international financial institutions, and authorized bullion banks. Key aspects include its role as a safe-haven asset, a store of value, and a component of national wealth, often influencing global financial stability. Transactions are typically large-scale and driven by macroeconomic factors, geopolitical stability, and monetary policy decisions, rather than commercial demand for fabrication. It represents a critical component of global financial infrastructure.
What products fall under HS code 710820?
Central bank gold reserves, Gold bullion held by IMF, Good Delivery gold bars (held by central banks), Gold held in sovereign wealth funds, National treasury gold holdings
What are common misclassifications for HS code 710820?
This is distinct from unworked gold (710811) or semi-manufactured gold (710813) which are intended for industrial or jewelry use. The 'monetary' designation is critical.
How is HS code 710820 structured?
HS code 710820 is a 6-digit subheading under the Harmonized System. The first 2 digits (71) identify the chapter, digits 3-4 (08) identify the heading, and digits 5-6 (20) specify the subheading. This code is standardized globally by the World Customs Organization.