Registration Requirement

• Dealers (sellers and refiners) of precious metals must register with the sheriff's office in the county where they do business. The license application requires the dealer to supply background information including the name of the business, place of operation and whether there were prior applications that were denied. The license fee is $50.
  
  

Records

• Dealers must provide a written record of each sales transaction. The records must include a proper identification of the seller, a proper identification of the precious metals being sold and the time and date of sale. Records are required to be kept for one year.
  
  

Enforcement

• Records of all sales must be available for inspections by appropriate law enforcement officials. Copies of the sales records must be mailed to the local district attorney or the police department of the municipality where the sale was made.
  
  

Weighing Devices

• If the sale requires use of a weighing device (typically a scale), a price measurement reflecting the metal being sold and the price per weight, must be displayed. Weighing devices must be properly calibrated and must comply with any relevant laws.
  
  

Penalties

• Failure to comply with the provisions of the Act is a misdemeanor of the third degree. Additionally, the person/entity in violation will lose his license and will be ineligible to apply for five years.