Find HS Code and trade information for coin

Coin

A coin is a small, flat, round piece of metal used primarily as a medium of exchange or legal tender. Historically, coins were made from precious metals like gold, silver, and copper, but modern coins are often composed of base metals like nickel, zinc, or alloys.

Material

• Precious Metals: Gold, silver, platinum, palladium – used historically and for bullion/investment coins. These coins derive value from the metal content itself.
• Base Metals: Nickel, zinc, copper, steel, brass, aluminum, alloys (e.g., cupro-nickel, bronze) – commonly used in modern circulating currency due to lower cost and increased durability. Clad coins utilize layers of different metals bonded together.
• Commemorative Materials: Some commemorative coins are made from materials like titanium, niobium, or even incorporate elements like wood or acrylic.

Purpose

• Medium of Exchange: The primary function of coins is to facilitate the buying and selling of goods and services.
• Legal Tender: Coins are officially recognized by a government as a valid form of payment for debts and obligations within a specific jurisdiction.
• Store of Value: Precious metal coins can retain value over time, acting as a hedge against inflation or economic uncertainty.
• Investment: Bullion coins (e.g., American Eagle, Canadian Maple Leaf) are purchased for their metal content and potential appreciation.
• Numismatic Value: Rare or historically significant coins can have substantial value to collectors, independent of their metal content.
• Commemoration: Commemorative coins are issued to mark significant events, people, or places.

Function

• Standardized Weight & Purity: Coins are manufactured to precise standards of weight and metal purity, ensuring consistent value.
• Security Features: Modern coins incorporate features to prevent counterfeiting, such as reeded edges, micro-engravings, and unique metal compositions.
• Durability: Coins are designed to withstand repeated handling and circulation.

Usage Scenarios

• Retail Transactions: Used for everyday purchases in stores, vending machines, and other commercial settings.
• Savings & Investment: Stored as a form of wealth or traded as an investment.
• Collecting: Accumulated by hobbyists for their historical, artistic, or rarity value.
• Gaming & Gambling: Used as tokens in casinos and other games of chance.
• Ceremonial Purposes: Used in traditional ceremonies, such as coin flips or groundbreaking events.

Common Types

• Circulating Coins: Regularly used in everyday commerce (e.g., pennies, nickels, dimes, quarters in the US).
• Bullion Coins: Made from precious metals and sold for their metal content (e.g., American Eagle, Canadian Maple Leaf, Krugerrand).
• Commemorative Coins: Issued to celebrate specific events or people, often with limited mintages.
• Proof Coins: Specially manufactured with a high-quality finish for collectors.
• Uncirculated Coins: Coins that have never been put into circulation.
• Ancient Coins: Coins from past civilizations, often made of gold, silver, or bronze.
• Token Coins: Coins not issued by a government, but used for specific purposes (e.g., arcade tokens, casino chips).
• Digital Coins/Cryptocurrencies: A digital representation of value, typically secured by cryptography (e.g., Bitcoin, Ethereum). While referred to as "coins," these are fundamentally different from physical coins.

Based on the material, use, function, and application scenarios, the declared goods "coin" fall under the category of articles of copper typically carried on the person.

Here are the relevant HS codes based on the provided reference material:

• 7419801500: Other articles of copper; Other: Containers of a kind normally carried on the person, in the pocket or in the handbag. This HS code covers copper articles designed to be carried personally, such as coins kept in pockets or handbags.

  • 74: Metals; this chapter broadly covers various metals.
  • 19: Copper articles.
  • 80: Other copper articles.
  • 15: Containers of a kind normally carried on the person, in the pocket or in the handbag.
  • 00: Further specification within the subheading.

• 7419803000: Other articles of copper; Other: Other: Coated or plated with precious metal. If the coin is coated or plated with a precious metal, this HS code applies.

  • 74: Metals.
  • 19: Copper articles.
  • 80: Other copper articles.
  • 30: Coated or plated with precious metal.
  • 00: Further specification within the subheading.

Regarding HS code 7419801500 and 7419803000, the total tax rate is 58.0%, comprising a 3.0% base tariff, a 25.0% additional tariff, and a 30% additional tariff effective after April 2, 2025.