The Coin Dealer Newsletter had a lead story last week on how certain parts of the country are stepping up their regulation and licensing of pawn shops and coin dealers buying and selling coins and precious metals. I spoke with one of the guys at Guilford Coin on Saturday on the Connecticut law regulating trade in collectibles was being implemented. He said there have been a number of arrests of antique dealers who buy and sell jewelry and collectibles, apparently sting operations by the state nabbed those business people. I applied for a license myself for sales and use taxes even though I don't need to collect or pay with the type of business I do. Any others here have reports of stepped up enforcement of pawn shops and coin shops?
Precious metals and coin buyers are supposed to be licensed and have a holding period in case the goods are stolen, etc.. They did cash deals without providing invoices, etc..
