7108.12.10 - Bullion and dore

This HTS subcategory, 7108.12.10, specifically covers gold in the form of bullion. Bullion refers to gold in its refined, cast form, typically in bars or ingots, intended for investment or as a store of value. It is characterized by its high purity and is recognized for its intrinsic value, distinct from manufactured gold articles.

While the broader category 7108.12 encompasses "Other unwrought forms" of gold, this specific code isolates bullion. Its sibling category, 7108.12.50, covers other unwrought forms not classified as bullion, which would include things like gold granules or irregularly shaped masses not specifically cast into standardized bullion forms. This distinction hinges on the form and intended purpose of the unwrought gold.

Within this bullion category, a further subdivision exists under the code 7108.12.10.20, which specifically designates "Dore." Dore is a semi-refined form of gold, often containing silver and other impurities, that has been smelted but not yet fully refined to investment-grade purity. Therefore, 7108.12.10 broadly covers refined bullion, while its subcategory differentiates the less refined dore.