CLA-2-71:OT:RR:NC:N1:121
Ms. Shelley M. Hooker
American Precious Metals Exchange (APMEX)
226 Dean A. McGee Ave.
Oklahoma City, OK 73102
RE: The tariff classification of gold rounds
Dear Ms. Hooker:
In your letter dated January 10, 2012, you requested a tariff classification ruling.
The merchandise under consideration is two gold rounds, named the “1 oz Scotiabank Gold Round .9999 Fine” and the “1 oz Englehard Prospector Gold Round .9999 Fine.” Each round weighs 1 troy ounce (31.104 grams) and contains 31.031 grams of pure gold. These rounds are manufactured by privately owned mints. They are not manufactured on behalf of any country, are not legal tender, and do not have engraved nominal values. You indicate that they are sold online and that the purchasing and selling price of each round is determined by the current spot price of its metal content.
The Scotiabank Gold Round is circular in shape, measuring 32 mm in diameter and 2 mm thick. The obverse depicts the Scotiabank emblem in the center and the words “Scotiabank 24K” along its edge. The reverse side depicts the Scotiabank emblem in the center and the phrase “1 oz- 24 Karat Fine Gold 999.9 Valcambi SUISSE,” along its edge. Each round comes in a fitted octagonal holder with an assay card certified by the manufacturer.
The Englehard Prospector Gold Round is circular in shape and measures 34 mm in diameter. The obverse depicts a prospector panning for gold in the center, and along its edge, the words “THE AMERICAN GOLD PROSPECTOR,” “USA,” and the year the coin was minted. The reverse side depicts the Englehard logo in the center, and the phrase “ENGLEHARD 24 KARAT 999.9 PURE ONE TROY OUNCE FINE GOLD,” along its edge. It comes in a rectangular display sleeve with an assay card certified by the manufacturer.
You propose that the gold rounds should be classified under heading 7118, Harmonized Tariff Schedule of the United States (HTSUS), which provides for coin. However, based on the documentation provided, the rounds are not legal tender, nor were they ever legal tender removed from circulation. Consequently, they cannot be classified in heading 7118, HTSUS.
The applicable subheading for the gold rounds will be 7114.19.0000, Harmonized Tariff Schedule of the United States (HTSUS), which provides for articles of goldsmiths’ or silversmiths’ wares and parts thereof, of precious metal or of metal clad with precious metal, of other precious metal whether or not plated or clad with precious metal.
This ruling is being issued under the provisions of Part 177 of the Customs Regulations (19 C.F.R. 177).
If you have any questions regarding the ruling, contact National Import Specialist Barbara Kaiser at (646) 733-3024.
Sincerely,
Thomas J. Russo
Director
National Commodity Specialist Division