Where to Sell (or Buy) Gold, Silver & Platinum in South Carolina

South Carolina's precious metals dealer law is built around in-state premises, though its dealer definition (S.C. Code 40-54-10) covers anyone who buys precious metal "from the general public" with no in-state limit. S.C. Code 40-54-20 says no dealer "shall operate in the State of South Carolina" without a permit from the local police chief or county law enforcement agency where the business sits, and requires the dealer to operate "only from a permanent place of business," defined as a fixed premises the dealer owns or leases. The 21 day hold in 40-54-50 runs at that place of business or "within the county of purchase in this State." The chapter never mentions buying by mail, so it does not settle whether it reaches a buyer outside the state. We have no South Carolina premises; your items travel to our refinery in Oregon and the purchase happens there.

After you accept, you complete a simple online verification before we pay. Send only items that are yours to sell.

You get an itemized offer listing each piece with its weight and purity. Turn it down and we mail everything back with free return postage.* Accept and payment goes out the same day.**

Anyone in South Carolina who buys gold, silver, platinum or gemstones from the public to make a profit is a dealer under S.C. Code Title 40, Chapter 54, and that includes items taken in pawn. Each dealer needs a yearly permit from the local police chief or county law enforcement agency, granted after a background investigation, and may operate only from a fixed premises: not from a vehicle, flea market, hotel room, home or short sublease. The state law replaces any city or county rules on the business.

At every purchase the dealer writes down the date, the amount paid, your name, sex, race, age and address, and your driver's license number, plus each item's size, weight, pattern, engraving and any unusual marks, and gets your signature. Without a driver's license you can use another photo ID with an identifying number, such as a DMV photo ID, a passport, a military photo ID or a South Carolina photo voter card; with no ID at all, the dealer cannot buy. The book is kept three years and is open to police, who may share your identity only with other law enforcement, prosecutors or a court.

Everything except coins must stay at the shop, or in the county of purchase, for 21 days without being resold, melted or altered. Dealers may not buy from a minor unless a parent or guardian with ID is present. A dealer who knowingly buys stolen metal owes the owner three times its fair market value, and willful violations are misdemeanors that bar a repeat offender from holding a permit for at least two years, or at least five after a third conviction.

S.C. Code 12-36-2120(70) exempts gold, silver or platinum bullion, coins that are or have been legal tender in the United States or another country, and currency, provided the seller keeps the records the Department of Revenue requires for each exempt sale. Jewelry is not on the list and is taxed like other goods at the 6% state rate plus local taxes of up to 3%.

None of this touches you as a seller. Sales tax falls on retail buyers, so nothing comes out of what a South Carolina shop or we pay you.

South Carolina computes your taxable income from the federal Internal Revenue Code (S.C. Code 12-6-560), so a gain on gold, silver or platinum carries into your state return. S.C. Code 12-6-1150 then lets individuals deduct 44% of their net capital gain "recognized in this State," using the federal definition of net capital gain, which covers metal held more than a year; metal held a year or less gets no deduction. Act 110 of 2026 replaced the old schedule for tax years after 2025 with two rates: 1.99% on taxable income up to 30,000 dollars and 5.21% above that.

Federally, the IRS taxes physical precious metals as collectibles: gains on metal held more than a year are taxed at your ordinary rate up to 28%, and metal held a year or less is taxed as ordinary income. Inherited metal generally takes its value on the date of death as its basis. We are not tax advisers, so check with yours before you file.

House Bill 5115 would have made certain gold and silver specie legal tender in South Carolina. It was introduced and sent to the House Ways and Means Committee on February 5, 2026, and saw no further action, so it did not become law. Buyers, including us, price your coins on their metal content at the live market rate, not face value.