HS Code for Gold coins

Gold coins classified under HS code 7108.20 are specifically designated as "monetary gold." This classification is unique because it depends not only on the physical properties of the gold but also on the status of the owner and the intended use. Monetary gold refers to gold held by central banks or monetary authorities as part of official international reserves. This distinguishes it from collector coins or investment bullion held by private individuals or commercial banks. Under the Harmonized System, the distinction between monetary and non-monetary gold is critical for national accounts and trade statistics. If the gold is not held by a monetary authority, it cannot fall under 7108.20, regardless of its shape, purity, or legal tender status. This code is reserved for the movement of gold between official financial institutions.

Products Included

• Central bank gold reserves in coin form
• Monetary authority gold coins
• Official gold reserves exchanged between governments
• Legal tender gold coins held as national assets

Common Misclassification

The most frequent misclassification occurs with HS code 7118.90, which covers coinage in general. While 7118.90 includes gold coins that are legal tender, it is used for commercial or private trade. If the gold is being traded as a commodity or investment by private parties, it should be under 7108.12 (non-monetary unwrought gold) or 7118.90. Confusing 7108.20 with 7108.12 is common when the user does not account for the "monetary" vs "non-monetary" distinction required by Chapter 71 notes.

FAQ

What is the HS code for gold coins?

For monetary gold coins held by official authorities, the code is 7108.20. For private investment or legal tender coins, use 7118.90.

What defines gold as monetary?

Gold is considered monetary only when it is owned by a central bank or government authority to support the national currency or reserves.