§ 9-93. Precious metals dealer permit required.

It shall be unlawful for any person to operate as a precious metal dealer or to engage in any transaction within the corporate limits of the city, either directly or through an agent or employee, without first obtaining a permit in accordance with this article (division 1). An exempted transaction is one that is (i) not considered in determining whether a person is a dealer under this division and (ii) not subject to the requirements of this division, even if it is entered into by a person otherwise defined and regulated as a dealer. Exempted transactions are:

(a)

Purchases directly from manufacturers or wholesalers of precious metals by permanently located retail merchants from their inventories.

(b)

Pawns, pledges, or purchases of items made of precious metals, if the transaction is entered into by a licensed pawnbroker and the transaction is regulated under the provisions of this article (division 1).

(c)

The acquisition of precious metals by a permanently located retail merchant through barter or exchange for other items sold in the ordinary course of the merchant's business, provided that the seller does not receive, as part of the transaction, any sum of money or any gift card or stored-value card, unless the card is redeemable only at that merchant's business.

(Ord. No. 2014-02, 2-27-14)