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PRINTER'S NO. 276
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
350
Session of
2019
INTRODUCED BY RIGBY, McNEILL, NELSON, COOK, SCHMITT, STRUZZI,
GREGORY, ECKER AND JONES, FEBRUARY 1, 2019
REFERRED TO COMMITTEE ON CONSUMER AFFAIRS, FEBRUARY 1, 2019
AN ACT
Amending the act of February 24, 1984 (P.L.92, No.17), entitled
"An act regulating the purchase and sale of precious metals,"
further providing for definitions, for license required, for
records of transactions, for dealer's retention of precious
metal and availability for inspection, for purchases from
minors and for penalty.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Sections 1, 2(e), 3(a) and (c), 4(a), (b) and
(c), 5 and 10 of the act of February 24, 1984 (P.L.92, No.17),
referred to as the Precious Metal Sale Regulation Law, are
amended to read:
Section 1. Definitions.
The following words and phrases when used in this act shall
have the meanings given to them in this section unless the
context clearly indicates otherwise:
"Business days." Excludes Saturdays, Sundays and Federal or
State legal holidays.
"Dealer in precious metals." An individual, partnership,
association, corporation or business entity, who or which
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purchases precious metals from the general public for resale or
[refining] other commercial disposition, or any individual who
acts as agent for such individual, partnership, association,
corporation or business entity for such purchase or purchases.
Excluded from this definition are financial institutions
licensed under Federal or State banking laws, the purchaser of
precious metals who purchases from a seller seeking a trade-in
or allowance, the manufacturers of jewelry or of other items
composed, in whole or in part, of gold, silver or platinum and
the purchaser of precious metals for his, her or its own use or
ownership and not for resale or [refining] other commercial
disposition.
"Gold." Any alloy of the element gold, ten karat or of
greater fineness. A karat is 1/24 part, by weight, of the alloy
of the metallic element gold.
"Platinum." Any alloy of the element platinum, 750/1000 or
more parts per thousand, by weight, of pure platinum.
"Precious metals." Items containing or being of gold, silver
or platinum, including, but not limited to, jewelry and silver
services, but excluding coins, ingots, bullion or photographic
film or any article containing less than 5% of gold, silver or
platinum by weight.
"Proof of identity." An unexpired document issued by the
Federal Government, the Commonwealth or any other state
government, the District of Columbia, the Commonwealth of Puerto
Rico or any United States territory that includes all of the
following:
(1) The name, age and address of the seller.
(2) A photograph of the seller.
(3) An expiration date.
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"Silver." Any alloy of the element silver, 900/1000 or more
parts per thousand, by weight, of pure silver.
["Working days." Excludes Saturdays, Sundays and Federal or
State legal holidays.]
Section 2. License required.
* * *
(e) Application to be public record.--[Such] A dealer's
annual license application shall be a public record maintained
at the dealer's place of business and shall be made available
to the general public for inspection upon request.
Section 3. Records of transactions.
(a) Dealers to keep record.--Every dealer in precious metals
shall keep a record of every transaction upon a form [approved]
and in a manner prescribed by the Attorney General. The record
shall include as a minimum:
(1) [The name, age and address of the seller which must
be verified by said dealer, requiring proof of identity from
the seller sufficient to insure the accuracy of the
represented name and address] A copy of the proof of identity
of the seller.
(2) An accurate description of [the property] each item
purchased, including any serial number or other identifying
marks or symbols and the date and hour of the transaction.
(3) A photograph of the item, if the item purchased has
any distinguishing details, including identifying marks,
initials, insignias, inscriptions or other unique identifying
features. The photograph shall be:
(i) taken from two different perspectives;
(ii) no less than 1:1 scale; and
(iii) of sufficient size and clarity to identify any
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distinguishing details .
* * *
(c) Copy of record to district attorney.--A copy of every
record [of transaction] created pursuant to subsection (a)(1)
and (2) shall be delivered or mailed to the district attorney of
the county in which a purchase of precious metals is made by the
close of the next [working] business day after the day on which
the metal was purchased.
* * *
Section 4. Dealer's retention of precious metal and
availability for inspection.
(a) Precious metal to be retained for [five] ten days.--Each
item of precious metal purchased by a dealer in precious metals
shall be retained in unaltered condition for [five] ten full
[working] business days after report of its purchase has been
filed with the proper district attorney or his designee.
(b) Precious metal to be available for inspection.--Such
item of precious metal shall be available for inspection, during
the [five working] ten business days, by law enforcement
officials of the Federal Government, the Commonwealth or any of
its municipalities in the course of their law enforcement
duties. A search warrant shall not be required unless the
inspection is made during hours other than those when the dealer
in precious metals is open for business. Upon notice, in
writing, to a dealer by a law enforcement official investigating
a reported theft of precious metals, transaction records may be
inspected by a representative of a licensed insurance company
that has paid or is contractually obligated to pay a claim for
the loss.
(c) Law enforcement officials to give notice when they
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believe item was stolen.--If a law enforcement official has
probable cause to believe an item of precious metal has been
stolen, he may give written notice to the dealer in precious
metals. Upon receipt of such written notice, such dealer in
precious metals shall retain the item in unaltered condition for
an additional seven full business days, unless the law
enforcement officer in writing recalls such notice.
* * *
Section 5. Purchases from minors.
[The dealer in precious metals shall require any minor
seeking to sell precious metals to produce written authority of
a parent, guardian or person in loco parentis authorizing the
sale of such precious metals. Such authorization shall give the
name and address of authorizing person. The dealer in precious
metals shall verify that such sale is authorized by inquiry of
such parent, guardian or person in loco parentis. Minors shall
be required to wait three full working days before receiving
payment from the sale of precious metals.] A dealer in precious
metals may not purchase precious metals from or sell precious
metals to an individual who is under 18 years of age.
Section 10. Penalty.
(a) Unlicensed dealers.--The purchase of an item of precious
metal by an unlicensed dealer in precious metals shall
constitute a violation of this act and the dealer shall be
guilty of a misdemeanor of the [third] second degree.
(b) Licensed dealers.--Any licensed dealer in precious
metals who violates any provisions of this act shall be guilty
of a misdemeanor of the [third] second degree.
(c) Revocation of license and ineligibility.--Any
individual, partnership, association, corporation or business
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entity violating any provisions of this act shall, upon
conviction, in addition to the penalties set forth in
subsections (a) and (b) hereof, suffer immediately revocation of
any existing license issued pursuant to the provisions of this
act and shall be ineligible to apply for a dealer's license
under this act for a period of five years thereafter.
Section 2. This act shall take effect in 60 days.
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