Coin; other than coin of item no. 7118.10

HS code 711890 covers a wide range of coins that are not classified under the previous code, 711810. This industry plays a crucial role in the global financial system, providing the physical representation of monetary value that facilitates transactions and serves as a store of wealth. Coins produced under this code are used in various applications, from everyday purchases to commemorative and collector's items, 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 metal is then shaped into the desired coin design using techniques like stamping, minting, or casting. Quality control measures are implemented to ensure the coins meet strict specifications for weight, size, and appearance. Finally, the finished coins are packaged and distributed for circulation or collection.

The main inputs required for the production of coins under HS code 711890 include precious metals (e.g., gold, silver, copper) or alloys, as well as specialized machinery and equipment for the minting and finishing processes. Additionally, skilled labor, such as coin designers, engravers, and mint operators, are essential for the production of high-quality coins. The availability and cost of these raw materials and resources can significantly impact the overall production and supply of coins in this industry.

The primary output of the industry covered by HS code 711890 is, of course, coins. These coins can be used for a variety of purposes, including general circulation, commemorative or collector's items, and investment. The coins produced under this code may be consumed by 7118 Coin, including coin with legal tender; gold coin or other related industries that require physical currency for transactions or storage of value.