HS 710820 Monetary
Quick Answer: Gold, in coins, imported under HS 710820 enters the UK at 0.00%, the EU at 0.00%, and the US at Free under the MFN rate. This classification specifically covers gold coins that are legal tender in their country of origin, irrespective of whether they are intended for circulation or as bullion. It is crucial for importers and customs brokers to verify the legal tender status of any gold coins to ensure correct classification. CustomTariffs aggregates this data, highlighting the duty-free entry across these major markets for this specific category of monetary gold.
What Are the Import Duty Rates?
🇬🇧 United Kingdom
| Code | MFN | Preferential | Unit |
|---|---|---|---|
| 7108200000 | 0.00 % | — | — |
🇪🇺 European Union (TARIC)
| Code | MFN | Preferential | Unit |
|---|---|---|---|
| 7108200000 | 0.00 % | — | — |
🇺🇸 United States (HTSUS)
| Code | MFN | Preferential | Unit |
|---|---|---|---|
| 7108200000 | Free | — | ["g"] |
Duty rates sourced from the USITC (US International Trade Commission) Harmonized Tariff Schedule (HTS) (accessed 2/22/2026), EU TARIC – DG TAXUD (Directorate-General for Taxation and Customs Union) (accessed 2/22/2026), and UK Trade Tariff – HMRC (His Majesty's Revenue and Customs) (accessed 2/22/2026).
Data compiled and presented by HSRates.
How to Classify This HS Code?
What products does HS 710820 cover?
This subheading covers "Monetary" gold, which includes gold coins, gold bullion, and other forms of gold that are recognized as legal tender or are intended for monetary purposes. According to the World Customs Organization's Harmonized System Nomenclature, this category specifically encompasses gold in its monetary form, distinct from non-monetary gold or gold alloys. For instance, the USITC Harmonized Tariff Schedule (HTS) defines this as gold in coin or ingot form, which is legal tender in its country of origin or export, or gold bullion. The EU TARIC system also aligns with this definition, focusing on gold coins and bars that are legal tender or have been minted as such.
What falls outside HS 710820?
The following products are excluded from HS 710820: non-monetary gold, such as gold jewelry, gold dental fillings, gold plating, and gold waste and scrap. Also excluded are gold alloys where gold is not the sole or principal constituent, unless they meet the specific criteria for monetary gold. For example, gold jewelry, even if made of 24-karat gold, would typically be classified under HS 7113.10, and gold in powder form not intended for monetary use would fall under HS 7108.12. The key differentiator is the intent and legal status as a medium of exchange.
What are common classification mistakes for HS 710820?
A common error is misclassifying gold coins that are primarily collected for their numismatic value rather than their monetary value. According to General Rule of Interpretation (GRI) 1, classification is determined by the terms of the headings and any relative section or chapter notes. If a coin is considered a collector's item or has a value significantly exceeding its face value as currency, it may be classified under HS 9705.00 (Works of art, collectors' pieces and antiques). Another mistake is classifying gold bullion that is not recognized as legal tender or intended for monetary circulation under this subheading.
How should importers classify products under HS 710820?
The correct procedure for classifying products under HS 710820 involves a thorough examination of the product's characteristics and intended use. Importers and customs brokers must verify if the gold is in a form recognized as legal tender or specifically minted for monetary purposes. Consulting the official tariff schedules of the importing country, such as the USITC HTS, EU TARIC, or UK Trade Tariff, is crucial. Reviewing the Explanatory Notes to the Harmonized System can provide further clarification on the scope of "monetary" gold, ensuring accurate classification and compliance with customs regulations.
How is the duty calculated for products under HS 710820?
For products under HS 710820, duties are typically applied based on the declared customs value. For example, 1 kilogram of gold bullion, declared at a customs value of $70,000 USD, would attract a US duty of $0 USD, as the Most Favored Nation (MFN) duty rate for HS 710820 in the USITC Harmonized Tariff Schedule is 0% ad valorem. This is calculated using the MFN rate published in the USITC Harmonized Tariff Schedule, which for monetary gold is consistently 0% for most trading partners, reflecting its status as a financial asset rather than a typical commodity for import duties.
Which trade agreements reduce duties for HS 710820?
Several free trade agreements may reduce the applicable duty rate for HS 710820, including the United States-Mexico-Canada Agreement (USMCA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). For goods originating from Canada or Mexico under USMCA, the duty rate is Free. For goods originating from CPTPP member countries, the duty rate is also Free. Documentation required to claim these preferences typically includes a self-certified origin statement for USMCA, and a certificate of origin for CPTPP, depending on the specific country and its implementation of the agreement.
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FAQ
What are the import duty rates for HS code 710820 (Monetary gold)?
Under the Harmonized Tariff Schedule of the United States (HTSUS), monetary gold, classified under HS code 710820, is generally subject to a 0.00% duty rate. This means it is imported duty-free. For example, if importing $1,000,000 USD worth of monetary gold, the duty would be $1,000,000 * 0.00% = $0.00. Always verify current rates with the US International Trade Commission (USITC) as tariff schedules can be updated.
What specific criteria define 'monetary' gold under HS code 710820?
HS code 710820 specifically covers 'monetary' gold. This generally refers to gold in the form of coins or bullion that is legal tender in a country and is intended for circulation or held as a reserve asset by central banks. It is distinct from gold for industrial or jewelry purposes. Importers must ensure their goods meet the definition of legal tender or central bank reserves to qualify for this classification. Consult the World Customs Organization (WCO) Explanatory Notes for detailed definitions.
Are there specific documentation requirements for importing monetary gold (HS 710820)?
While the duty rate is typically 0.00%, importing monetary gold may involve significant documentation requirements due to its sensitive nature. This can include proof of origin, declarations from the central bank or issuing authority, and compliance with financial regulations and anti-money laundering (AML) laws. Customs brokers should be prepared to provide detailed invoices, packing lists, and any required permits or licenses from relevant government agencies. It is crucial to consult with the importing country's customs authority for specific documentation needs.
Do any trade agreements offer preferential duty rates for HS code 710820?
As HS code 710820 (Monetary gold) is generally duty-free under most favored nation (MFN) tariffs, preferential rates under trade agreements are often not applicable or do not provide further reduction. However, specific bilateral agreements or special economic zones might have unique provisions. Importers and customs brokers should always consult the specific trade agreement relevant to their country of origin and destination, as well as the official tariff database (e.g., EU TARIC for European Union, UK Trade Tariff for the United Kingdom) to confirm any applicable preferential treatment or reporting requirements.