---
title: South Carolina’s Proposed Full Capital Gains Tax Exemption on Precious Metals
description: South Carolina proposes a full capital gains tax exemption on precious metals to promote their use in everyday transactions.
---

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# [South Carolina’s Proposed Full Capital Gains Tax Exemption on Precious Metals](https://transactionalgold.com/transactional-gold/south-carolinas-proposed-full-capital-gains-tax-exemption-on-precious-metals)

 Written by [Transactional Gold Team](https://transactionalgold.com/transactional-gold/author/transactional-gold-team) | May 21, 2025 3:30:00 PM

### Overview

Introduced as **House Bill 3081** in the 2023–2024 legislative session, this measure proposes a **100% deduction** from South Carolina taxable income for any capital gains realized from the sale of **gold, silver, or platinum bullion**. This would effectively eliminate state capital gains tax on precious metal transactions, making them far more feasible as mediums of exchange.

- **What it aims to do**: Enable taxpayers—individuals, estates, and trusts—to fully deduct any profit made from selling qualifying precious metals.
- **Rationale**: Many long-term holders of metals experience only *nominal gains* due to inflationary effects on currency, yet current law still treats those as taxable income. This bill seeks to remove that financial disincentive, aligning with financial self-protection strategies.

### Legislative Journey

- **Filed**: Prefiled in December 2022 and formally introduced in January 2023.
- **Referral**: Sent to the House Ways and Means Committee for review and consideration.
- **Status**: As of mid‑2024, the bill remains under committee consideration with **no advancement to a final vote or enactment**.

### Why It Matters

South Carolina already boasts a sales tax exemption for most bullion and collectible coins. However, without similar relief on income taxes, bullion is still treated as a taxable investment rather than potential legal tender. By fully exempting capital gains, HB 3081 would remove a significant barrier to using precious metals in everyday commerce—paving the way for broader monetary choice and sound-money practices.

[Track H4678](https://www.scstatehouse.gov/billsearch.php?billnumbers=4786&session=123&summary=B)

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