PRINTER'S NO. 45
No. 44 Session of 1981
INTRODUCED BY J. L. WRIGHT, WILT AND BURNS, JANUARY 19, 1981
REFERRED TO COMMITTEE ON BUSINESS AND COMMERCE,
JANUARY 19, 1981
AN ACT
1 Regulating certain aspects of the precious metals, jewelry and
2 coin purchasing business, requiring registration by certain
3 persons and providing penalties.
4 The General Assembly of the Commonwealth of Pennsylvania
5 hereby enacts as follows:
6 Section 1. Registration required.
7 (a) Any person that purchases precious metals, jewelry or
8 coins from the general public on any basis other than a casual
9 or isolated transaction shall register with the district
10 attorney of each county in which such person transacts business.
11 The registration statement will contain:
12 (1) The name, principal business address, home address
13 and business phone number of registrant.
14 (2) The name, business address, home address and
15 business home number of all associates and employees of
16 registrant who are involved directly or indirectly in the
17 purchase of precious metals, jewelry or coins.
1 (b) As used in this act "precious metals, jewelry or coins,"
2 means fourteen karat or finer gold, coin or sterling silver,
3 precious and semi-precious gems and gold or silver coins, or any
4 combination of these items.
5 Section 2. Information forms and filing.
6 Any person subject to the registration requirements of
7 section 1 shall, when purchasing or otherwise acquiring any
8 precious metals, jewelry or coins, shall obtain the following
9 information from the owner of such property:
10 (1) The name, current address and telephone number of
11 the owner, as evidenced by two documents of identification.
12 This identification requirement can be satisfied by the
13 production of a current photo operators license issued by the
14 Pennsylvania Department of Transportation or United States
15 Passport.
16 (2) An accurate description of each item, including
17 identifying marks, manufacturers name or serial number.
18 Section 3. Temporary retention of property.
19 All precious metals, jewelry and coins acquired by a person
20 subject to section 1 shall be retained by him for a period of 30
21 days and shall be subject to examination by the Attorney General
22 or district attorney or any person authorized in writing by
23 either of them.
24 Section 4. Penalties.
25 (a) Any person required to register pursuant to section 1
26 who fails to do so before transacting business in precious
27 metals and jewelry as regulated by this act commits:
28 (1) A summary offense if the violation is his first
29 conviction under this act.
30 (2) A misdemeanor of the third degree if the violation
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1 is a second or subsequent conviction under this act.
2 (b) Any person required to register under section 1 who
3 fails to file any report required by section 2 commits a summary
4 offense. Each failure to file constitutes a separate offense.
5 (c) Any person required to retain precious metals, jewelry
6 or coins for the 30-day period required by section 3 and who
7 fails to do so or who refuses a lawful demand to inspect such
8 property commits a misdemeanor of the third degree.
9 Section 5. Effective date.
10 This act shall take effect in 60 days.
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