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Buying Gold & Silver in South Carolina

As you travel south from the Northeast along Interstate Highway 95, which runs along the Eastern seaboard of the county, you reach a place which proclaims you have reached south of the Border. It is a tourist stop where you can legally buy products not available in the northern states like bulk cigarettes, fireworks, and other items. It is also the border and entry way to South Carolina. This large state was one of the original 13 colonies of the United Sates, and was founded early on in the history of our country. It played an important role in the ratification and approval of the Declaration of Independence, Articles of Confederation and eventually the Constitution of the United States of America. It was the first state to officially declare independence from the mother country of Great Britain. This tendency to be first also came in to play during the American Civil War, as South Carolina was the first state to vote to secede from the Union. This was not the last major event for the state during this bloody conflict, as the first shots in the War were fired within the borders of South Carolina.

South Carolina has a diverse landscape. It has a long stretch of coastline with sandy beaches, marshlands, and inlets and coves. The southern plains lend themselves to farming, while in the northwest portion of the state runs the Blue Ridge Mountains. As the forerunner of the movement to secede from the union, the antebellum south was born and bred here in South Carolina, with many of its tenets still on display. There are many plantation houses, large mansions, and other buildings all reminiscent of the antebellum time, as well as reflective of the reconstruction era after the Civil War. The state was hit hard during the recent economic crises in the last decade, forcing a high unemployment rate, which has only recently started to decrease.

It is because of these struggles that the residents of this state are fully cognizant of the need to prudently invest their hard earned money. It is a necessity to invest in areas that will provide economic security and stability for their financial futures. With wide open plains and large estates, there may be an opportunities to invest in real estate. However, the collapse of the housing market and the questions in the valuation process for property has lead to a huge risk for any investments in land. They could invest in stocks and bonds as the markets seem to be at all-time highs. That may be true, but only the brokers and the super rich seem to make any real money. The best bet maybe to invest in gold and silver.

Bullion Sales Tax in South Carolina

When one purchases gold and silver, you need to be aware of the potential for the imposition of sales tax. Under South Carolina tax laws and regulations, www.sctax.org, there is a state wide sales tax of 6%, with the possibility of up to an additional 3% being levied by local municipalities. There is a full exemption for all purchase of precious metals in the state no matter the mount, size, or shape of the bullion.

Golden Eagle Coins, being an out of state retailer, does NOT have to charge sales tax to South Carolina residents. Browse our selection of tax-free gold and silver products. Please take note that we are not experts on tax issues, and you may be liable to pay local Use tax. Please contact your local tax professional for more information.