The bill H. 5544 proposes an amendment to the South Carolina Code of Laws by adding Section 34-31-30, which stipulates that legal tender for all debts, both public and private, shall consist exclusively of gold coins, silver coins, and United States currency. This amendment clarifies the definitions of "gold coin" and "silver coin," specifying that they must be in solid form, valued for their metal content, and meet certain purity standards—99.5% for gold and 99.9% for silver. The bill explicitly excludes items such as jewelry and collectibles from these definitions.

If enacted, this legislation would redefine the accepted forms of legal tender in South Carolina, potentially impacting various financial transactions within the state. The bill is currently under consideration in the House Committee on Ways and Means and will take effect upon receiving approval from the Governor.

Statutes affected:
04/16/2026: 34-31-30
Latest Version: 34-31-30