Coin

HS v2022 Code: 7118

About coin

HS code 7118 covers the trade 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, facilitating economic transactions and enabling the flow of goods and services. The coin industry is closely tied to the broader financial sector and plays a crucial role in the global economy.

Production process

The production of coins typically involves a minting process. Raw metal, such as gold, silver, or copper, is melted and then pressed or stamped into the desired shape and design. Advanced techniques may include the use of specialized machinery, such as coin presses, to ensure consistent quality and precision. The minting process often incorporates security features, such as intricate patterns or engravings, to deter counterfeiting.

Production inputs

The main inputs required for the coin industry include precious metals, such as 7106 Gold, 7107 Silver, and 7401 Copper, as well as specialized minting equipment and machinery. Additionally, the industry relies on skilled labor, including mint workers, designers, and engineers, to ensure the efficient and secure production of coins.

Production outputs

The primary output of the coin industry is, of course, coins themselves. These coins are then used in various financial transactions and as a store of value. The coin industry's output may be consumed by 7101 Coin not being used as legal tender, 7102 Coin used as legal tender, and other related industries that require coins for their operations.

Family tree for coin

    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/v2022/7118'>7118: Coin</a>"]

    A --> C["<a href='/classifications/hs/v2022/7101'>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/v2022/7102'>7102: Diamonds, whether or not worked, but not mounted or set</a>"]
A --> E["<a href='/classifications/hs/v2022/7103'>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/v2022/7104'>7104: Stones; synthetic or reconstructed precious or semi-precious, whether or not worked or graded but not strung, mounted or set; ungraded synthetic or reconstructed precious or semi-precious stones, temporarily strung for convenience of transport</a>"]
A --> G["<a href='/classifications/hs/v2022/7105'>7105: Dust and powder of natural or synthetic precious or semi-precious stone</a>"]
A --> H["<a href='/classifications/hs/v2022/7106'>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/v2022/7107'>7107: Base metals clad with silver; not further worked than semi-manufactured</a>"]
A --> J["<a href='/classifications/hs/v2022/7108'>7108: Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form</a>"]
A --> K["<a href='/classifications/hs/v2022/7109'>7109: Base metals or silver, clad with gold, not further worked than semi-manufactured</a>"]
A --> L["<a href='/classifications/hs/v2022/7110'>7110: Platinum; unwrought or in semi-manufactured forms, or in powder form</a>"]
A --> M["<a href='/classifications/hs/v2022/7111'>7111: Base metals, silver or gold, clad with platinum; not further worked than semi-manufactured</a>"]
A --> N["<a href='/classifications/hs/v2022/7112'>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 other than goods of heading 85.49</a>"]
A --> O["<a href='/classifications/hs/v2022/7113'>7113: Jewellery articles and parts thereof, of precious metal or of metal clad with precious metal</a>"]
A --> P["<a href='/classifications/hs/v2022/7114'>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/v2022/7115'>7115: Articles of precious metal or of metal clad with precious metal</a>"]
A --> R["<a href='/classifications/hs/v2022/7116'>7116: Articles of natural or cultured pearls, precious or semi-precious stones (natural, synthetic or reconstructed)</a>"]
A --> S["<a href='/classifications/hs/v2022/7117'>7117: Imitation jewellery</a>"]

    B --> T["<a href='/classifications/hs/v2022/711810'>711810: Coin (other than gold coin), not being legal tender</a>"]
B --> U["<a href='/classifications/hs/v2022/711890'>711890: Coin; other than coin of item no. 7118.10</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 level4
class D level4
class E level4
class F level4
class G level4
class H level4
class I level4
class J level4
class K level4
class L level4
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
  %% class D,E,F,G,H,I level2
  %% class J,K,L,M,N,O,P level3
  %% class B highlight