As used in this chapter, the following terms shall have the
meanings indicated:
MERCHANT
One who purchases precious metals from the public and sells
or otherwise exchanges or trades the precious metals to refiners or
brokers or makes appraisals of the precious metals or otherwise conveys,
melts down or alters said precious metals in any form.
PRECIOUS METALS
Metals that are considered to have a high economic value
based upon their rarity, usefulness in industry, or value as an investment
commodity. Precious metals include but are not limited to gold, silver,
platinum or palladium and their alloys as defined in N.J.S.A. 51:5-1
et seq. and 51:6-1 et seq.
PURCHASE
Not only the exchange of money for precious metals, but the
exchange or trading of any other tangible or intangible property for
precious metals.
Every merchant with the Borough of Westville shall, upon the
purchase of any precious metals from the public, be required to do
as follows:
A. Record on a numbered receipt the name, address and telephone number
of the purchaser; the name, address and telephone number of the seller
or sellers; the time and date of the transaction; the net weight,
in terms of pounds troy, pennyweight (troy) or kilograms/grams, of
the precious metals; and fineness, in terms of karats for gold and
sterling or coin for silver, in accordance with N.J.S.A. 51:5-1 et
seq. and 51:6-1 et seq.
B. Supply to the Chief of Police of the Borough of Westville, within two (2) days from the date of purchase, on a form approved by the Borough of Westville, the information contained in Subsection
A above, plus the following. The form must be signed by the seller and initialed by the clerk who made the transaction.
(1) A copy of the seller's driver's license to confirm
his/her name, address and license number.
(3) A full description of the item or items purchased, including but
not limited to marks, numbers, dates, sizes, shapes, initials, and
monograms.
(4) The price paid for the item(s).
C. The precious metals are to be made available for inspection by the
Chief of Police of the Borough of Westville or his designated representative
for a period of five days from the date the information required above
is received by the Chief of Police on the approved form. The precious
metals shall remain in the same condition as when purchased and shall
not be changed, modified, melted or disposed of by the purchaser until
the five-day period has expired. During this five-day period, the
precious metals shall be placed in public view at the purchaser's
place of business. If the property is such that it would create a
hardship on the merchant by holding the precious metals for such period,
the merchant may present the property to the Chief of Police or his
representative in order that it may be photographed and, if deemed
necessary by the Chief of Police or his designated representative,
an investigation be implemented. The Chief of Police or his designated
representative has the authority to grant the merchant a waiver of
the requirement under this section.
No merchant within the Borough of Westville shall purchase any
precious metals from any person under the age of 18 years.