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Minnesota to require Background Check for anyone buying/selling bullion
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<p>[QUOTE="Detecto92, post: 1759000, member: 75105"]Well then....that's their own stupidity quite frankly. </p><p> </p><p>The law outlines several things:</p><p> </p><p><b>1. If you have committed a financial crime within the past 10 years, your not allowed to be a dealer.</b></p><p> </p><p>That's totally understandable. After all, would you want to deal with an ex-con? I sure wouldn't either. </p><p> </p><p><b>2. <font face="ff-dagny-web-pro"><span style="color: #333333">Dealers may not misrepresent the value,characteristics, or or earning potentials of a transaction. </span></font></b></p><p> </p><p>Again, understandable. Some crooked dealer may tell your Grandma that here coins aren't silver, and buy them for pennies on the dollar. Or they might lie and say, "this is all I can give you, I'm only making 5% on this deal".</p><p> </p><p> </p><p><br /></p><p> </p><p>You got that right. Remember the shady "fly-by-night" dealers that came around last year and the few years before? </p><p> </p><p> </p><p><br /></p><p> </p><p>Take a look around you, besides unscrupulous dealers, we have chinese fakes by the thousands...</p><p> </p><p>..the hobby of coin collecting is being ruined by this type of stuff. We need regulation in this hobby to prevent this kind of stuff from occurring.</p><p> </p><p>This law will in by no means harm collecting, it will actually make it safer.[/QUOTE]</p><p><br /></p>
[QUOTE="Detecto92, post: 1759000, member: 75105"]Well then....that's their own stupidity quite frankly. The law outlines several things: [B]1. If you have committed a financial crime within the past 10 years, your not allowed to be a dealer.[/B] That's totally understandable. After all, would you want to deal with an ex-con? I sure wouldn't either. [B]2. [FONT=ff-dagny-web-pro][COLOR=#333333]Dealers may not misrepresent the value,characteristics, or or earning potentials of a transaction. [/COLOR][/FONT][/B] Again, understandable. Some crooked dealer may tell your Grandma that here coins aren't silver, and buy them for pennies on the dollar. Or they might lie and say, "this is all I can give you, I'm only making 5% on this deal". You got that right. Remember the shady "fly-by-night" dealers that came around last year and the few years before? Take a look around you, besides unscrupulous dealers, we have chinese fakes by the thousands... ..the hobby of coin collecting is being ruined by this type of stuff. We need regulation in this hobby to prevent this kind of stuff from occurring. This law will in by no means harm collecting, it will actually make it safer.[/QUOTE]
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Minnesota to require Background Check for anyone buying/selling bullion
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