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<p>[QUOTE=&quot;Conder101, post: 1253302, member: 66&quot;]Typically these laws regulate PURCHASES, or loans where the items are used as collateral.&nbsp; (And the above listing of the ordinance reflects that,)&nbsp; So dealers coin come in to the area for a show and sell what they brought with them, but any purchases made would be subject to the reporting and holding requirements.&nbsp; No reselling newps.</p><p><br /></p><p>These laws are typically passes due to increased robberies an the selling of stolen gold and silver from said robberies and are nore commonly passed as high precious metal prices encourage more robberies to steal gold and silver.&nbsp; There was a rash of similar laws back in the 1980&#039;s cause but the PM run up at that time.</p><p><br /></p><p>These laws tend to be local ordinances and actually do more damage to the local business than they do toward stopping the PM fencing.&nbsp; The locals tend to have to follow the laws while out of towners can float in and either ignore the law or pay it some lip service , then leave town sell the material and change the name of the business so they can&#039;t be traced.&nbsp; Typically the people who are to administrate the ordinance don&#039;t work on the weekends so buyers can come in of dealers come in for a show and be gone before the administrators even know they were there. (Similarlly for sales tax compliance.&nbsp; The people who are supposed to come in and make sure the dealers at a show have their sales tax forms don&#039;t work weekends.&nbsp; Years ago, I think during the 1991 recession, for awhile the tax people DID come around to the coin shows to make sure the dealers were collecting the sales tax.&nbsp; At a show in NJ they actually closed off a dealers table with police tape and escorted him from the floor because he didn&#039;t have his sales tax paperwork for the state.)[/QUOTE]</p><p><br /></p>

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