[Ord. No. 5773, 3-14-2022]
A. 
As used in this Section, the following words and terms have the following meanings, unless the context clearly indicates otherwise:
BUYER OF GOLD, SILVER, OR PLATINUM or BUYER
An individual, partnership, association, corporation, or business entity, who or which purchases gold, silver, or platinum from the general public for resale or refining, or an individual who acts as agent for the individual, partnership, association, corporation, or business entity for the purchases. The term does not include financial institutions licensed under Federal or State banking laws, the purchaser of gold, silver, or platinum who purchases from a seller seeking a trade-in or allowance, and the purchaser of gold, silver, or platinum for his or her own use or ownership and not for resale or refining.
GOLD
Items containing or being of gold including, but not limited to, jewelry. The term does not include coins, ingots, or bullion or articles containing less than five percent (5%) gold by weight.
PLATINUM
Items containing or being or platinum, but shall only include jewelry. The term does not include coins, ingots, bullion, or catalytic converters or articles containing less than five percent (5%) platinum by weight.
SILVER
Items containing or being of silver including, but not limited to, jewelry. The term does not include coins, ingots, bullion, or photographic film or articles containing less than five percent (5%) silver by weight.
WEIGHING DEVICE
Shall only include a device that is inspected and approved by the weight and measures program within the Missouri Department of Agriculture.
B. 
A buyer of gold, silver or platinum shall completely, accurately, and legibly record and photograph every transaction on a form provided by and prepared by the buyer. The record of every transaction shall include the following:
1. 
A copy of the driver's license or photo identification issued by the state or by the United States government or agency thereof to the person from whom the material is obtained;
2. 
The name, current address, birth date, sex, and a photograph of the person from whom the material is obtained, if not included or are different from the identification required in Subsection (B)(1) of this Section;
3. 
The seller shall be required to sign the form on which is recorded the information required by this Section;
4. 
An accurate description of the property purchased;
5. 
The time and date of the transaction shall be recorded at the time of the transaction.
Records of transactions shall be maintained by the buyer of gold, silver, or platinum for a period of twelve (12) months and shall be available for inspection by any Law Enforcement Official of the Federal government, State, municipality, or County. No buyer shall accept any pre-melted gold, silver, or platinum, unless it is part of the design of an item of jewelry. Each item of gold, silver, or platinum purchased by a buyer of gold, silver, or platinum shall be retained in an unaltered condition for ten (10) full days that the buyer is open to the public. It shall be the buyer's duty to inform law enforcement if the buyer has any reason to believe an item purchased may have been obtained illegally by a seller.
C. 
Records of buyer transactions required hereunder shall be made available, upon request, to Law Enforcement Officials, governmental entities, and any other concerned entities or persons at the location where the transaction occurred. The buyer shall not keep Law Enforcement Officials, governmental entities, or any other concerned entities or persons from accessing such records during the buyer's normal business hours.
D. 
When a purchase subject to this Section is made from a minor, the written authority of the parent, guardian, or person in loco parentis authorizing the sale shall be attached and maintained with the record of transaction described in Subsection (B) of this Section.
E. 
Statement Of Prices; Conversion Chart.
1. 
When a weighing device is used to purchase gold, silver, or platinum, there shall be posted on a conspicuous sign located close to the weighing device, a statement of prices for the gold, silver, or platinum being purchased as a result of the weight determination.
2. 
The statement of prices shall include, but not be limited to, the following in terms of the price per troy ounce:
a. 
The price for twenty-four (24) karat; eighteen (18) karat, fourteen (14) karat, and ten (10) karat gold;
b. 
The price for pure silver and sterling silver;
c. 
The price for platinum.
3. 
When the weight determination is expressed in metric units, a conversion chart to troy ounces shall be prominently displayed so as to facilitate price comparison. The metric equivalent of a troy ounce is 31.10348 grams.
F. 
A weighing device used in the purchase of gold, silver, or platinum shall be positioned in such a manner that its indications may be accurately read and the weighing operation observed from a position which may be reasonably assumed by the buyer and the seller. A verbal statement of the result of the weighing shall be made by the person operating the device and recorded on the buyer's record of transaction.
G. 
The purchase of an item of gold, silver, or platinum by a buyer of gold, silver, or platinum not in accordance with this Section shall constitute a violation of this Section.
H. 
This Section shall not apply to a pawnbroker, as defined in Section 367.011, RSMo., or a scrap metal dealer, as provided in Sections 407.300 to 407.305, RSMo.
[1]
State Law Reference — § 407.292, RSMo.