Friday, May 29, 2009

Florida Laws on Purchasing Gold

Anyone who purchases gold or precious metals, whether at a business or gold party, is required by law to obtain a Collier County occupational license and register with the Florida Department of Revenue as a secondhand dealer.

Florida State Statute 538 regulates precious metals dealers. Dealers must comply with record-keeping requirements, which involve completing approved transaction forms, verifying identification, obtaining the seller’s thumbprint, and delivering detailed transaction records to local law enforcement. Secondhand dealers must also hold the purchased items for 15 calendar days, according to law.

Failure to comply with these requirements may result in the dealer’s arrest.

If you purchase precious metals, or are planning a gold or precious metals party, you may contact the CCSO Pawn Unit at 239-530-5626 with any questions.