[Ord. 769, passed 2-4-2013]
For the purpose of this chapter, the following definitions shall
apply unless the context clearly indicates or requires a different
meaning.
DEALER IN PRECIOUS METALS
An individual, partnership, association, corporation or business
entity who or which purchases precious metals from the general public
for resale or refining or any individual who acts as an agent for
such individual, partnership, association, corporation or business
entity for such purchase or purchases; provided, however, that the
term shall not include any financial institution licensed under federal
or state banking laws, the purchaser of precious metals who purchases
from a seller seeking a trade-in or allowance, the manufacturers of
jewelry or of other items composed, in whole or in part, of gold,
silver or platinum, or the purchaser of precious metals for his, her
or its own use or ownership and not for resale or refining.
GOLD
Any alloy of the element gold, 10 karat or greater fineness.
A karat is 1/24 part, by weight, of the alloy of the metallic element
gold.
PLATINUM
Any alloy of the element platinum, 750/1,000 or more parts
per 1,000, by weight, of pure platinum.
PRECIOUS METALS
Items containing or being of gold, silver or platinum, including,
but not limited to, jewelry and silver services, but excluding coins,
ingots, bullion or photographic film or any article containing less
than 5% of gold, silver or platinum by weight.
SILVER
Any alloy of the element silver, 900/1,000 or more parts
per 1,000 by weight, of pure silver.
WORKING DAYS
All days excluding Saturdays, Sundays and federal or state
holidays.
[Ord. 769, passed 2-4-2013]
No dealer in precious metals may make any purchase of precious
metals from any person under the age of 18.
[Ord. 769, passed 2-4-2013]
Concurrent with each transaction in which he or she makes a
purchase of precious metals, a dealer of precious metals shall complete
a form to be obtained from the Borough Police Department and obtain
a copy of the seller's photo identification. Such form shall
be faxed, along with the copy of the photo identification to the Police
Department on the date that the dealer in precious metals makes such
purchase. Dealers in precious metals shall retain such form and a
copy of such identification for a period of one year from the date
upon which they make the corresponding purchase of precious metals.
[Ord. 769, passed 2-4-2013]
Dealers in precious metals shall retain any precious metals
they may purchase for a period of 10 days prior to offering such items
for resale.
[Ord. 769, passed 2-4-2013]
Violations of this chapter shall be enforceable as set forth
in § 202.99 of this code.