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<p>[QUOTE=&quot;frech001, post: 2455383, member: 20616&quot;]Sorry, I somewhat messed up a previous post, which is listed as an entire quote, so I won&#039;t quote two of the above comments, but rather respond to them.&nbsp; First, the law was amended effective July 1, 2016. &quot;The threshold for registration has been raised from $5,000 to $25,000 of bullion product transactions (both sales and purchases). As such, the minimum amount for the surety bond requirement has been raised to $25,000.&quot;&nbsp; (Click the link in my previous post for the complete text.)</p><p><br /></p><p>Secondly, we the people, through our elected officials establish laws and services to be provided by our local, state and federal government.&nbsp; Those programs cost money.&nbsp; In some cases, especially in local and state governmental programs, the businesses who are regulated pay for the program so the general public doesn&#039;t have to.&nbsp; So, for example, in Minnesota, a business that manufactures a product and generates some hazardous waste in the process is required to be licensed and pay a license fee to support the state&#039;s regulatory program to make sure that the hazardous waste is properly managed and not just dumped in the ground behind the factory or down a sewer.&nbsp; I suppose some people think of that as a tax, but here in Minnesota we&#039;ve decided that the general public shouldn&#039;t subsidize certain businesses by having to pay general taxes to make sure that business operates in accordance with the laws we adopt.&nbsp; So, some businesses are required to obtain licenses or register with the State Department Of Commerce, like bullion dealers to do business here.&nbsp; The result is that the people who, for example, buy bullion from a dealer in Minnesota, are helping pay for a program to ensure that the dealer is legitimate because the dealer passes on his costs to his customers.&nbsp; I think that is an equitable approach, and apparently the majority of Minnesotans do as well.</p><p><br /></p><p>Thanks to Minnesotan&#039;s concerns about the environment and public safety, our state is one of the healthiest and safest places to live.&nbsp; I&#039;ve lived in several other states, and a third world country not to be mentioned, and am glad to be back in Minnesota.&nbsp; Though as a coin collector, the range of temperatures and humidity here does pose a challenge for coin storage.[/QUOTE]</p><p><br /></p>

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