Resolution to Reestablish Gold and Silver Coin for Legal Tender in South Carolina

WHEREAS, Section 8, Article 1, of the United States Constitution authorizes Congress to coin money and regulate the value thereof, and

WHEREAS, Section10, Article 1, of the United States Constitution authorizes each state to use gold and silver coin as legal tender in payment of debts, and

WHEREAS, gold was legal tender in the US until 1933 and minting of silver coins terminated in 1964, and

WHEREAS, gold and silver coins, as historically recognized sound money, provide a stable and intrinsic medium of exchange free from inflationary manipulation and legal plunder of our citizens’ savings; and

WHEREAS, states such as Utah (2011), Louisiana (2013, 2024), Oklahoma (2014, 2025), Wyoming (2018), and Arkansas (2023) have recognized gold and silver coins as legal tender with voluntary acceptance through exemptions to sales and capital gains taxes, with other states proposing similar legislation; and

WHEREAS, South Carolina has already exempted gold and silver from sales tax; and

WHEREAS, this action will preserve, protect, and promote the sovereignty and independence of this state with respect to the performance of essential governmental functions that require the state to tender payment of debt, and

WHEREAS, this action will preserve, protect, and promote liberty with individual choice, economic security, safety, health, privacy and welfare of the people of South Carolina, and

WHEREAS, this action will protect the state and its citizens in the acquisition and possession of gold and silver and their use as legal tender in the payment of debt, and

WHEREAS, central bank digital currencies pose risks to financial privacy and economic autonomy, undermining the principles of sound money.

NOW, THEREFORE, BE IT RESOLVED that the Lexington County Republican Party supports the right of individuals and businesses to voluntarily use gold and silver coins as transactional currency or legal tender in private transactions, securing the right of citizens of this state under the 9th and 10th amendments of the United States Constitution to tender gold and silver coin in payment of debt, and;

BE IT FURTHER RESOLVED that the Lexington County Republican Party requests state and local governments to promote consensual transactions in gold and silver, free from undue restrictions or taxation, by amending Article 17, Chapter 1, Title 1 of the South Carolina Code to recognize gold and silver coins as legal tender in South Carolina, consistent with Article 1, Section 10 of the U.S. Constitution; to establish a South Carolina bullion depository and state bank to support such transactions; and to oppose the adoption of central bank digital currencies.

____________

Approved unanimously by the Lexington County Republican Party

Executive Committee on June 2, 2025.