[HISTORY: Adopted by the Mayor and Council of the Borough of Glassboro 9-22-2009 by Ord. No. 09-48. Amendments noted where applicable.]
The title of this chapter shall be "Precious Metal Merchants' Responsibilities and Requirements."
As used in this chapter, the following terms shall have the meanings indicated:
- One who purchases precious metals from the public and sells or otherwise exchanges or trades the precious metals to refiners or brokers or makes appraisals of the precious metals or otherwise conveys, melts down or alters said precious metals in any form.
- PRECIOUS METALS
- Gold, silver, platinum and their alloys as defined in N.J.S.A. 51:5-1 et seq. and 51:6-1 et seq.
- Not only the exchange of money for precious metals, but the exchange or trading of any other tangible or intangible property for precious metals.
Every merchant within the Borough of Glassboro shall, upon the purchase of any precious metals from the public, be required to do as follows:
Record on a numbered receipt the name, address and telephone number of the purchaser; the name, address and telephone number of the seller or sellers; the time and date of the transaction; the net weight in terms of pounds Troy, pennyweight (Troy) or kilograms/grams of the precious metals; fineness in terms of karats for gold, and sterling or coin for silver, in accordance with N.J.S.A. 51:5-1 et seq. and 51:6-1 et seq.
Supply to the Chief of Police of the Borough of Glassboro, within two days from the date of purchase, on a form approved by the Borough of Glassboro, the information contained in Subsection A above, plus the following:
A physical description of the seller.
The receipt number.
A full description of the item or items purchased, including but not limited to marks, numbers, dates, sizes, shapes, initials and monograms.
The price paid for the item.
The form must be signed by the seller and initialed by the clerk who made the transaction.
The precious metals are to be made available for inspection by the Chief of Police of the Borough of Glassboro or his or her designated representative for a period of five days from the date the information required above is received by the Chief of Police on the approved form. The precious metals shall remain in the same condition as when purchased and shall not be changed, modified, melted or disposed of by the purchaser until the five-day period has expired. During this five-day period, the precious metals shall be placed in public view at the purchaser's place of business. If the property is such that it would create a hardship on the merchant by holding the precious metals for such period, the merchant may present the property to the Chief of Police or his or her representative an order that it may be photographed and, if deemed necessary by the Chief of Police or his or her designated representative, an investigation be implemented. The Chief of Police or his or her designated representative has the authority to grant the merchant a waiver of the requirement under this section.
This chapter shall not apply to purchases made by jewelers or other merchants from wholesalers or other suppliers, but shall only apply to those purchases made from the public or other retail purchases. The merchant shall keep records of all wholesale purchases for a period of six months from the date of such purchase, which records shall be opened to investigation by the Borough of Glassboro Police Department.
No merchant within the Borough of Glassboro shall purchase any precious metals from any person under the age of 18 years.
Violation of any provision of this chapter shall, upon conviction thereof, be punished by a minimum fine of $100 or a maximum of $2,000 or by imprisonment for a term not exceeding 90 days or by a period of community service not exceeding 90 days. Each and every violation shall be considered a separate violation. Any person who is convicted of violating the provisions of this chapter within one year of the date of the previous violation and who was fined for the previous violation may be sentenced by the court to an additional fine as a repeat offender. The additional fine imposed as a repeat offender shall not be less than the minimum or exceed the maximum fine provided herein, and same shall be calculated separately from the fine imposed for the violation of this chapter.