Coin; other than coin of item no. 7118.10

HS code 711890 covers a diverse range of coins that are not classified under the previous code, 711810. This industry plays a crucial role in the global financial system, providing a standardized medium of exchange and a store of value. Coins produced under this code are used for various purposes, including legal tender, collector's items, and industrial applications, making it an integral part of the broader economy.

The production of coins under HS code 711890 typically involves a multi-step process. First, the raw materials, such as precious metals or alloys, are sourced and refined. The refined material is then shaped into the desired coin design using techniques like stamping, minting, or casting. Quality control measures are implemented throughout the production process to ensure the coins meet the required specifications and standards.

The main inputs required for the production of coins under HS code 711890 include precious metals (e.g., gold, silver, platinum), base metals (e.g., copper, nickel), and specialized machinery and equipment for minting and finishing the coins. Additionally, the industry relies on skilled labor, advanced manufacturing techniques, and strict quality control measures to ensure the production of high-quality coins.

The primary output of the industry covered by HS code 711890 is a diverse range of coins, including commemorative, collector's, and circulation coins. These coins may be used as legal tender, investment vehicles, or for other purposes. The output of this industry is often consumed by 7118 Coin, including coin with legal tender; scrap, 7117 Imitation jewelry, and the broader financial services sector.