About HS Code 711291
This specific HS code covers waste and scrap composed solely of gold, including gold-clad metals, but explicitly excludes sweepings that might contain other precious metals. This category represents a highly valuable segment of the precious metals recycling industry, driven by the intrinsic worth of gold. Importers and exporters typically include gold refiners, jewelers, dental laboratories, and electronics manufacturers seeking to recover gold from discarded items. The trade involves meticulous collection, sorting, and refining processes to extract pure gold, contributing significantly to the global gold supply without new mining. Understanding the purity and form of the gold scrap is paramount for accurate valuation and trade, with a strong emphasis on secure logistics due to its high value.
Products Under This Code
Gold jewelry scrap, dental gold fillings, gold-plated connectors, gold wire scrap, gold leaf waste, gold bullion scrap, electronic circuit board gold scrap, gold watch cases scrap
Real World Examples
Valcambi (refining), Argor-Heraeus (refining), old gold jewelry, discarded computer components, dental crowns
Common Misclassification
Often confused with 711230 if the waste contains other precious metals or is in ash form, or with 711299 if it's not exclusively gold scrap.
Products Classified Under 7112.91
Industry
This code belongs to the Gems & Jewelry industry.
Trade Overview
Switzerland, UAE, India, and China are significant players in the trade and refining of gold scrap.
Frequently Asked Questions
What is HS code 711291?
HS code 711291 covers: Waste and scrap of precious metals; of gold, including metal clad with gold but excluding sweepings containing other precious metals. This specific HS code covers waste and scrap composed solely of gold, including gold-clad metals, but explicitly excludes sweepings that might contain other precious metals. This category represents a highly valuable segment of the precious metals recycling industry, driven by the intrinsic worth of gold. Importers and exporters typically include gold refiners, jewelers, dental laboratories, and electronics manufacturers seeking to recover gold from discarded items. The trade involves meticulous collection, sorting, and refining processes to extract pure gold, contributing significantly to the global gold supply without new mining. Understanding the purity and form of the gold scrap is paramount for accurate valuation and trade, with a strong emphasis on secure logistics due to its high value.
What products fall under HS code 711291?
Gold jewelry scrap, dental gold fillings, gold-plated connectors, gold wire scrap, gold leaf waste, gold bullion scrap, electronic circuit board gold scrap, gold watch cases scrap
What are common misclassifications for HS code 711291?
Often confused with 711230 if the waste contains other precious metals or is in ash form, or with 711299 if it's not exclusively gold scrap.
How is HS code 711291 structured?
HS code 711291 is a 6-digit subheading under the Harmonized System. The first 2 digits (71) identify the chapter, digits 3-4 (12) identify the heading, and digits 5-6 (91) specify the subheading. This code is standardized globally by the World Customs Organization.