Coin

HS v2017 Code: 7118

About coin

HS code 7118 covers the trade and production of coins, which are a fundamental component of modern monetary systems. Coins serve as a medium of exchange, a unit of account, and a store of value, playing a crucial role in facilitating economic transactions and enabling the smooth functioning of local and global markets. The coin industry is closely tied to the broader financial and economic landscape, with its outputs being consumed by governments, central banks, and the general public.

Production process

The production of coins typically involves a multi-step process. First, the raw materials, such as precious metals or alloys, are sourced and refined. The metal is then melted and cast into blank discs, known as planchets. These planchets are then struck with dies to imprint the desired designs, inscriptions, and security features. Finally, the finished coins undergo quality control checks and are packaged for distribution.

Production inputs

The main inputs required for the coin industry include precious metals (e.g., gold, silver, copper), alloys, and specialized machinery for minting and striking the coins. Additionally, the industry relies on skilled labor, advanced minting technologies, and secure transportation and storage facilities to ensure the integrity and distribution of the final products.

Production outputs

The primary output of the coin industry is, of course, the coins themselves. These coins are then consumed by governments, central banks, and the general public for use in everyday transactions, as well as for numismatic and investment purposes. Other industries that may consume the output of the coin industry include 7117 Imitation Jewelry, 7116 Articles of Natural or Cultured Pearls, Precious or Semi-Precious Stones, Precious Metals, Metals Clad with Precious Metal, and Articles Thereof; Imitation Jewelry; Coin, and the broader financial services sector.

Family tree for coin

    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/v2017/7118'>7118: Coin</a>"]

    A --> C["<a href='/classifications/hs/v2017/7101'>7101: Pearls; natural or cultured, whether or not worked or graded but not strung, mounted or set; pearls, natural or cultured, temporarily strung for the convenience of transport</a>"]
A --> D["<a href='/classifications/hs/v2017/7102'>7102: Diamonds, whether or not worked, but not mounted or set</a>"]
A --> E["<a href='/classifications/hs/v2017/7103'>7103: Precious (excluding diamond) and semi-precious stone; worked, graded, not strung, mounted, set; ungraded precious (excluding diamond) and semi-precious stone, temporarily strung for convenience of transport</a>"]
A --> F["<a href='/classifications/hs/v2017/7104'>7104: Synthetic, reconstructed precious, semi-precious stone worked, graded or not, not strung or mounted, set; ungraded synthetic, reconstructed precious, semi-precious stones, temporarily strung for transport</a>"]
A --> G["<a href='/classifications/hs/v2017/7105'>7105: Dust and powder of natural or synthetic precious or semi-precious stone</a>"]
A --> H["<a href='/classifications/hs/v2017/7106'>7106: Silver (including silver plated with gold or platinum); unwrought or in semi-manufactured forms, or in powder form</a>"]
A --> I["<a href='/classifications/hs/v2017/7107'>7107: Base metals clad with silver; not further worked than semi-manufactured</a>"]
A --> J["<a href='/classifications/hs/v2017/7108'>7108: Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form</a>"]
A --> K["<a href='/classifications/hs/v2017/7109'>7109: Base metals or silver, clad with gold, not further worked than semi-manufactured</a>"]
A --> L["<a href='/classifications/hs/v2017/7110'>7110: Platinum; unwrought or in semi-manufactured forms, or in powder form</a>"]
A --> M["<a href='/classifications/hs/v2017/7111'>7111: Base metals, silver or gold, clad with platinum; not further worked than semi-manufactured</a>"]
A --> N["<a href='/classifications/hs/v2017/7112'>7112: Waste and scrap of precious metal or of metal clad with precious metal; other waste and scrap containing precious metal compounds, of a kind uses principally for the recovery of precious metal</a>"]
A --> O["<a href='/classifications/hs/v2017/7113'>7113: Jewellery articles and parts thereof, of precious metal or of metal clad with precious metal</a>"]
A --> P["<a href='/classifications/hs/v2017/7114'>7114: Articles of goldsmiths' or silversmiths' wares and parts thereof, of precious metal or of metal clad with precious metal</a>"]
A --> Q["<a href='/classifications/hs/v2017/7115'>7115: Articles of precious metal or of metal clad with precious metal</a>"]
A --> R["<a href='/classifications/hs/v2017/7116'>7116: Articles of natural or cultured pearls, precious or semi-precious stones (natural, synthetic or reconstructed)</a>"]
A --> S["<a href='/classifications/hs/v2017/7117'>7117: Imitation jewellery</a>"]

    B --> T["<a href='/classifications/hs/v2017/711810'>711810: Coin (other than gold coin), not being legal tender</a>"]
B --> U["<a href='/classifications/hs/v2017/711890'>711890: Coin; other than coin of item no. 7118.10</a>"]


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class C level4
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class G level4
class H level4
class I level4
class J level4
class K level4
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class M level4
class N level4
class O level4
class P level4
class Q level4
class R level4
class S level4
class T level6
class U level6

  class B highlight

  %% class A level1
  %% class B,C level2
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  %% class J,K,L,M,N,O,P level3
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