HS Code for Legal tender coins

Legal tender coins are classified under HS code 7118.90. This heading encompasses coins that are officially recognized as a medium of exchange in their country of issue. While Chapter 71 generally deals with precious metals and jewelry, heading 7118 is specifically reserved for coinage. The subheading 7118.90 is a residual category for coins other than those classified as "coin (other than gold coin), not being legal tender" under 7118.10. This includes both base metal circulation coins and precious metal coins (such as silver or gold bullion coins) that carry a face value and are recognized by a central bank or government authority. The classification depends entirely on the legal status of the coin at the time of cross-border movement.

Products Included

• Current circulation coins (pennies, quarters, euros)
• Commemorative coins with legal tender status
• Gold bullion coins with a face value (e.g., Krugerrands, Eagles)
• Silver investment coins recognized as currency
• Bimetallic legal tender coins

Common Misclassification

A common error is classifying legal tender coins under HS code 7118.10, which is strictly for coins that are NOT legal tender (such as fantasy coins or those no longer in circulation). Another frequent misclassification is HS code 9705.00, which covers numismatic collections. While old coins are collectibles, if they still retain legal tender status, 7118.90 takes precedence over the general "collections" category unless they are of significant historical interest and part of a specific collection.

FAQ

What is the HS code for legal tender coins?

The HS code for coins that are currently legal tender is 7118.90.

Are gold bars classified here?

No, gold bars are classified as unwrought gold under HS code 7108.12, as they are not minted into coins.