HS 970531 Collections and collectors' pieces of numismatic interest
Quick Answer: Coins and other items of numismatic interest imported under HS 970531 enter the UK and EU duty-free, and the US also at a free rate for its primary tariff lines. This classification covers collections and individual pieces that are of interest to collectors, specifically those related to coinage, currency, and medals. For importers and customs brokers, it is crucial to ensure that the items genuinely qualify as numismatic collectibles and are not merely circulated currency. Documentation supporting the collector's value or historical significance may be required. CustomTariffs aggregates this information, highlighting the generally favorable duty treatment for these specialized goods across major markets.
What Are the Import Duty Rates?
🇬🇧 United Kingdom
| Code | MFN | Preferential | Unit |
|---|---|---|---|
| 9705310000 | 0.00 % | — | — |
🇪🇺 European Union (TARIC)
| Code | MFN | Preferential | Unit |
|---|---|---|---|
| 9705310000 | 0.00 % | — | — |
🇺🇸 United States (HTSUS)
| Code | MFN | Preferential | Unit |
|---|---|---|---|
| 97053100 | Free | — | — |
| 9705310010 | — | — | ["g"] |
| 9705310050 | — | — | ["g"] |
| 9705310001 | — | — | ["g"] |
| 9705310040 | — | — | ["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 970531 cover?
This subheading covers coins, banknotes, and other items of numismatic interest that are considered collectors' pieces. According to the World Customs Organization's Harmonized System Nomenclature, this includes currency that is no longer in circulation and has acquired a value beyond its face value due to its rarity, historical significance, or artistic merit. The US International Trade Commission (USITC) Harmonized Tariff Schedule (HTS) and the EU's TARIC database generally align with this definition, focusing on items valued for their collectible attributes rather than their monetary function.
What falls outside HS 970531?
The following products are excluded from HS 970531: current legal tender coins and banknotes intended for circulation, even if sold at a premium above their face value by the issuing authority. Also excluded are items that are primarily decorative or artistic without a clear numismatic history, such as modern commemorative medals not intended as currency, or jewelry made from old coins where the primary value is in the precious metal or craftsmanship. Items classified under other chapters, such as precious metals (Chapter 71) or works of art (Chapter 97, other headings), are also excluded.
What are common classification mistakes for HS 970531?
A common error is misclassifying modern commemorative coins or medals that, while collectible, do not meet the criteria of being "numismatic interest" as defined by the WCO and national tariff schedules. For instance, a newly minted commemorative medal sold by a government mint primarily for its artistic design might be mistakenly entered under 970531 instead of a more appropriate heading if it lacks historical rarity or has not yet acquired significant collector value beyond its issue price. Adherence to General Interpretative Rule 1 is crucial.
How should importers classify products under HS 970531?
The correct procedure for classifying products under HS 970531 involves a thorough assessment of the item's historical context, rarity, and collector demand. Importers and customs brokers must consult official tariff databases like the USITC HTS or the EU TARIC for specific rulings and definitions. Key considerations include whether the item is a former legal tender, its condition, and its market value as a collectible. Documentation from reputable numismatic sources or auction houses can support the classification.
How is the duty calculated for products under HS 970531?
A collection of 100 ancient Roman denarii, declared at a customs value of $5,000 USD, would attract a US duty of $0.00. This is calculated using the Most Favored Nation (MFN) rate of 0.0% ad valorem published in the USITC Harmonized Tariff Schedule for HS code 970531, as items of numismatic interest are generally duty-free in the United States. The duty is calculated as 0.0% × $5,000 USD = $0.00.
Which trade agreements reduce duties for HS 970531?
Several free trade agreements may reduce the applicable duty rate for HS 970531, including the United States-Mexico-Canada Agreement (USMCA), which can result in a duty-free entry for qualifying goods originating from Canada or Mexico. The EU's customs union with certain countries may also offer preferential rates. For USMCA, a self-certified origin statement is typically required. While many numismatic items are already duty-free under MFN, these agreements ensure continued preferential treatment and may simplify documentation requirements for qualifying goods from partner countries.
```Which HS Codes Are Related?
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FAQ
What are the import duty rates for HS code 970531, covering numismatic collections?
For HS code 970531, 'Collections and collectors' pieces of numismatic interest,' the Most Favored Nation (MFN) duty rate in the United States is 0.00%. Similarly, the United Kingdom's duty rate is Free, and the European Union's rate under TARIC is also 0.00%. These rates indicate that no customs duties are typically levied on such items when imported into these major markets.
What specific criteria define an item as 'numismatic interest' under HS code 970531?
Items classified under HS 970531 are considered 'numismatic interest' if they are coins, paper money, or other forms of currency that are of historical, artistic, or scientific value, and are not primarily intended for circulation as legal tender. This includes ancient coins, rare banknotes, medals, and tokens that are collected for their rarity, historical significance, or aesthetic qualities. The World Customs Organization (WCO) provides guidance, but national customs authorities make the final determination based on the specific characteristics and context of the item.
What documentation is typically required for importing items classified under HS code 970531?
While the duty rates are often 0.00%, importers and customs brokers must still ensure proper documentation. This typically includes a commercial invoice detailing the items, their value, and origin. A detailed packing list is also advisable. For items of significant value or historical importance, provenance documentation, such as certificates of authenticity or expert appraisals, may be requested by customs authorities to verify the numismatic interest and value. A declaration of origin is always necessary.
Do trade agreements, such as USMCA or EU Free Trade Agreements, offer further preferential treatment for HS code 970531?
Given that the standard MFN duty rates for HS 970531 are already 0.00% in major markets like the US, UK, and EU, most preferential trade agreements will not offer further duty reductions. The benefit of these agreements typically lies in reducing or eliminating duties on goods that would otherwise be subject to tariffs. For numismatic collections, the primary advantage is already the absence of duties under the standard tariff schedules.
How is the duty calculated for HS code 970531, and can you provide an example?
Since the duty rate for HS code 970531 is 0.00% ad valorem (based on value) and often 0.00% based on quantity (if applicable), the duty calculation results in zero. For example, if a collection of numismatic items valued at $10,000 is imported into the United States, the duty would be calculated as: $10,000 (value) × 0.00% (duty rate) = $0.00. Therefore, no duty is payable on these goods under the standard tariff.