Sales Tax on Gold and Silver in South Carolina

The short answer

South Carolina does not charge sales tax on gold, silver or platinum bullion, on coins that are or have been legal tender in the United States or another jurisdiction, or on currency. The exemption has no minimum purchase amount, and it also removes these items from local sales and use taxes collected by the Department of Revenue.

What the exemption covers

S.C. Code 12-36-2120(70) exempts three categories:

• Bullion — gold, silver or platinum bullion, or any combination of those metals.
• Coins — coins that are or have been legal tender in the United States or another jurisdiction, regardless of the metal they contain.
• Currency.

The statute took effect July 1, 2007, under Act No. 34 of 2007, which was enacted over the Governor’s veto.

What is not named

Palladium bullion is not named in the statute, so the exemption as written does not reach it. The law also sets no dollar threshold: a single coin and a large bullion order are treated the same way.

Documentation the retailer must keep

A retailer making an exempt sale must keep documentation prescribed by the Department of Revenue that identifies each exempt sale. That record-keeping requirement sits with the seller, not the buyer.

Local sales taxes

The Department of Revenue’s September 2025 sales and use tax manual (Chapter 9) states that items exempt under 12-36-2120 are also exempt from local sales and use taxes collected by the Department. The only exception the manual names is unprepared food. In practice, a qualifying bullion, coin or currency purchase is not subject to an added local tax at the register.

South Carolina gold and silver tax treatment at a glance

What buyers commonly get wrong

Assuming a minimum purchase applies. South Carolina’s exemption has no dollar threshold. There is no amount that must be spent before the exemption begins.

Assuming only precious-metal coins qualify. The coin category turns on legal-tender status, not on metal content. Coins that are or have been legal tender in the United States or another jurisdiction are covered whatever they are made of.

Assuming palladium is included. The statute names gold, silver and platinum. Palladium bullion is not named.

Assuming a local tax is added on top. Items exempt under 12-36-2120 are also exempt from local sales and use taxes collected by the Department, with unprepared food the only exception named in the Department’s manual.

Assuming the seller’s paperwork is the buyer’s problem. The documentation requirement falls on the retailer, who must keep records prescribed by the Department identifying each exempt sale.

Sources and timing

The rule comes from S.C. Code 12-36-2120, the Department of Revenue’s sales and use tax manual, Chapter 9, and Act No. 34 of 2007. It was checked in October 2026 and can change with new legislation, so confirm the current treatment with the state before a large purchase. For how these rules fit together across states, see sales tax on gold. For an individual situation, consult a tax professional or your own preparer.