Gold, monetary

HS v2017 Code: 710820

About gold, monetary

HS code 710820 covers the classification of gold in its monetary form. This is a critical component of the global financial system, as gold has long been used as a store of value and a medium of exchange. The gold industry plays a significant role in the international trade of precious metals, with gold serving as a hedge against economic uncertainty and inflation.

Production process

The production of monetary gold involves the refining and minting of gold bullion into coins, bars, or other standardized forms. This process typically begins with the extraction of gold ore from mines, followed by a series of smelting, refining, and purification steps to achieve the desired purity and form. The final products are then often stored in secure vaults or used in various financial transactions and reserve holdings.

Production inputs

The main inputs required for the production of monetary gold include gold ore, specialized mining and refining equipment, and skilled labor. Additionally, the industry relies on a robust transportation and logistics network to move the refined gold to various storage and distribution centers around the world.

Production outputs

The primary output of HS code 710820 is refined, high-purity gold in the form of coins, bars, or other standardized units. This gold is then used in a variety of applications, including 710813 Gold in other semi-manufactured forms, 710812 Gold in unwrought forms, and 710811 Gold powder, as well as in the creation of gold-based financial instruments and reserve holdings.

Revisions to 710820

Classification codes are adjusted frequently. The code may have been revised or replaced between system versions. The table below shows the history (newest to oldest) of the code 710820. The most recent 1 version of this code (710820) is in the HS v2022 system:

This page shows a legacy version of code 710820 ( HS v2017).

Newer versions
Older versions

Family tree for gold, monetary

    graph LR
    A["<a href='/classifications/hs/v2017/71'>71: Natural, cultured pearls; precious, semi-precious stones; precious metals, metals clad with precious metal, and articles thereof; imitation jewellery; coin</a>"]
A --> B["<a href='/classifications/hs/v2017/7108'>7108: Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form</a>"]
B --> C["<a href='/classifications/hs/v2017/710820'>710820: Gold, monetary</a>"]

    B --> D["<a href='/classifications/hs/v2017/710811'>710811: Metals; gold, non-monetary, powder</a>"]
B --> E["<a href='/classifications/hs/v2017/710812'>710812: Metals; gold, non-monetary, unwrought (but not powder)</a>"]
B --> F["<a href='/classifications/hs/v2017/710813'>710813: Metals; gold, semi-manufactured</a>"]

    

    %% Color coordination by level

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    classDef level2 color:#000,fill:#e0a458,stroke:#333,stroke-width:1px
    classDef level3 color:#000,fill:#419d78,stroke:#333,stroke-width:1px
    classDef level4 color:#000,fill:#c04abc,stroke:#333,stroke-width:1px
    classDef level5 color:#000,fill:#f1c40f,stroke:#333,stroke-width:1px
    classDef level6 color:#000,fill:#f1c40f,stroke:#333,stroke-width:1px
    classDef highlight color:#000,fill:#fff,stroke:#000,stroke-width:5px



  %% Apply classes
  class A level2
class B level4
class C level6
class D level6
class E level6
class F level6

  class C highlight

  %% class A level1
  %% class B,C level2
  %% class D,E,F,G,H,I level2
  %% class J,K,L,M,N,O,P level3
  %% class C highlight