South Carolina Precious Metals Sales Tax

What Precious Metals Are Taxed in South Carolina?

Sales Tax on Precious Metals (Coins and Bars) in South Carolina 

If you are buying or selling gold, silver, platinum, or palladium coins and bars in South Carolina, here is the most current information.

Does South Carolina Charge Sales Tax on Precious Metal Coins and Bars?

  • South Carolina exempts most purchases of precious metals from state sales tax.

    • This exemption covers:

      • Gold, silver, or platinum bullion (or any combination thereof)

      • Coins that are or have been legal tender in the United States or any other jurisdiction

      • Currency

  • Exceptions (Taxable Items):

    • Accessories such as holders, tubes, or coin flips

    • Processed items (precious metals made into jewelry, statues, colorized coins, or other items valued for more than their metal content)

    • Some local jurisdictions may impose a local sales tax, but the state exemption applies broadly.

  • Numismatic products (items with value above their metal content due to rarity, age, or condition) may be taxable if not currently or previously used as legal tender.

Official Government Reference

Summary Table: South Carolina Sales Tax on Precious Metals 

Product Type Sales Tax Status Notes
Gold, silver, platinum bullion Exempt Bars, rounds, ingots
Legal tender coins/currency Exempt U.S. or foreign legal tender
Accessories, processed items Taxable Holders, tubes, jewelry, colorized coins, statues
Non-legal tender numismatic products Taxable If not currently or previously legal tender
 

Disclaimer

Disclaimer: Tax laws and rates regarding precious metals in South Carolina may change without notice. This page provides general guidance only. Please consult the South Carolina Department of Revenue or a qualified tax professional for the most current and accurate information before making any precious metals transactions.

If you want to buy or sell precious metal coins and bars in South Carolina, most investment-grade bullion and legal tender coins are tax-free at the state level. Accessories, processed items, and some numismatic products remain taxable. Always verify your specific products and stay updated with the South Carolina Department of Revenue.

Sales tax is assessed according to where one is shipping the purchase to.

Safe Haven Metal utilizes an advanced sales tax computation system to determine the applicable sales tax on precious metals transactions based on the purchaser’s ZIP code. This system is designed to ensure that the most accurate pricing and corresponding tax calculations are applied to each order.

However, Safe Haven Metal may not have an established economic nexus in every state or jurisdiction. In instances where Safe Haven Metal is not obligated to collect sales tax, and such tax is nonetheless applicable under state or local law, the purchaser is solely responsible for reporting, remitting, and paying any such taxes directly to the appropriate taxing authority.

Safe Haven Metal disclaims any liability for a purchaser’s failure to properly report or remit taxes that may be due in connection with their purchase.

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