Gold, monetary

HS v2022 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 hedge against inflation. The monetary gold industry plays a vital role in the international trade of precious metals, with central banks and governments being the primary participants in this market.

Production process

The production of monetary gold involves the refining and minting of gold bullion into standardized bars, coins, and other forms that are recognized and accepted as legal tender. This process is highly regulated and typically carried out by national mints and central banks to ensure the quality and authenticity of the gold.

Production inputs

The main inputs required for the monetary gold industry include raw gold, which is typically sourced from 260300 Gold ores and concentrates, as well as specialized equipment and machinery for the refining and minting processes. Additionally, the industry relies on a skilled workforce of metallurgists, engineers, and technicians to ensure the production of high-quality monetary gold.

Production outputs

The primary output of the monetary gold industry is gold bullion and coins that are used as legal tender and for investment purposes. These products are often consumed by 720810 Central banks and 720890 Other financial institutions for the purpose of maintaining foreign exchange reserves and diversifying investment portfolios.

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 version):

This page shows the most recent version of code 710820.

Older versions

Family tree for gold, monetary

    graph LR
    A["<a href='/classifications/hs/v2022/71'>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/v2022/7108'>7108: Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form</a>"]
B --> C["<a href='/classifications/hs/v2022/710820'>710820: Gold, monetary</a>"]

    B --> D["<a href='/classifications/hs/v2022/710811'>710811: Metals; gold, non-monetary, powder</a>"]
B --> E["<a href='/classifications/hs/v2022/710812'>710812: Metals; gold, non-monetary, unwrought (but not powder)</a>"]
B --> F["<a href='/classifications/hs/v2022/710813'>710813: Metals; gold, semi-manufactured</a>"]

    

    %% Color coordination by level

    classDef level1 color:#000,fill:#a8f9ff,stroke:#333,stroke-width:2px
    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