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View Full Version : Buying gold is against the law unless you are licensed In Cali



Twisted Titan
4th January 2011, 02:11 PM
Pasadena police issue warning about buying and selling gold


http://www.pasadenastarnews.com/news/ci_16988452

As soaring gold prices tempt many to sell off jewelry and other gold items, police are working to keep thieves from taking advantage of the trend by making it difficult to sell stolen gold.

With gold selling for more than $1,400 per ounce, officials remind the public that there are laws governing the buying and selling of gold, Pasadena police said in a written statement.

"The Pasadena Police Department would like to inform the public that buying gold is against the law unless you are licensed by the California Department of Justice," the statement said.

In addition, police added, "Gold buyers are required by law to ask for identification from whoever they buy from and maintain a description of the items they are buying. This information is then reported to law enforcement."

"We want to caution people that care should be taken to buy from and sell to only licensed second-hand dealer," Police Chief Phillip Sanchez said. "This helps to prevent crime and will prevent people from buying stolen property unknowingly."

When not complying with the law, according to the police statement, "Some businesses may knowingly or unknowingly take in stolen property that belongs to the victim of a crime."

Business operators that buy or sell gold without a license are subject to arrest, a $1,500 fines and accusations of dealing in stolen property, police added.

The license required to sell gold is the same as that of other "second-hand dealers" who deal in items
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with serial numbers such as computers, cell phones, iPods and video game systems.

"By using reputable, licensed businesses, the average citizen can curb the buying and selling of stolen goods," Sanchez said. "When we make it harder for thieves to sell their ill-gotten gains, there is more of a chance to stem property crimes related to burglary."

Lt. Chris Russ said his department hopes to make strides this year against theft, as well as all other types of crime, by encouraging residents to make neighborhood security a New Year's resolution.

"In the new year, everyone should be committed to fight crime in their own neighborhoods through prevention," he said.

"I'm looking forward to this year being a tougher year for criminals," the lieutenant said

Gaillo
4th January 2011, 02:15 PM
I'm looking forward to this year being a tougher year for criminals," the lieutenant said

"A policeman's job is only easy in a police state."
- Orson Welles

BabushkaLady
4th January 2011, 02:52 PM
Leave it to Cali . . . I guess I would start Buying used Cool Whip containers from the customers . . . I'd have to base my prices on the going Gold rates, depending on the goodies inside . . . No illegal activities here. ;D

zap
4th January 2011, 02:57 PM
What they don't know, won't hurt me.
:P

Ponce
4th January 2011, 04:45 PM
If they do the same for silver I'll be dead meat...... >:(

palani
4th January 2011, 05:23 PM
"The Pasadena Police Department would like to inform the public that buying gold is against the law unless you are licensed by the California Department of Justice," the statement said.

Then again U.S. constitution article 1 section 10 declares


Section. 10. No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

Wouldn't it seem that you should be required to have a license to possess FRNs instead of a license to purchase gold?

Ash_Williams
4th January 2011, 06:00 PM
It only applies to businesses buying from the public. Same as if you go to sell a TV set to any pawn shop or take copper to a metal yard.

Once you've established trust with the dealer they will likely ignore the rules.

mightymanx
4th January 2011, 06:02 PM
Caifornia leading the charge against human rights once again.

ximmy
4th January 2011, 06:08 PM
It only applies to businesses buying from the public. Same as if you go to sell a TV set to any pawn shop or take copper to a metal yard.

Once you've established trust with the dealer they will likely ignore the rules.





Right, this has nothing to do with private transactions...

Shami-Amourae
5th January 2011, 03:40 AM
Kind of like how I had to buy my Berkey Light off of E-bay to get around the ban. Yeah, they tried to make it illegal in California to not get your daily intake of fluoride.

madfranks
5th January 2011, 12:24 PM
I called a coin shop south of LA to ask them if they'd heard about this; I read him the Pasadena Police statement verbatim and his response was "that's ridiculous, I've never heard of that". So take it for what it's worth...