Washington State: The New Gold Trading Legislation ‘That Is Just Nuts’

Well, if you live in Washington State, you may want to take notice of NIBS HB 1716 (PDF) which changes the current law in the following manner:

(2) ((This)) For any transaction involving property consisting of
a precious metal, every secondhand dealer or temporary, transient
secondhand dealer doing business in this state shall maintain wherever
that business is conducted a record in which shall be legibly written
in the English language, at the time of each transaction, the following
(a) The signature and photo of the person with whom the transaction
is made. If the amount paid is greater than one hundred dollars, then
the signature, photo, and fingerprint of the person with whom the
transaction is made;
(b) The time and date of the transaction;
(c) The name of the person or employee or the identification number
of the person or employee conducting the transaction, as required by
the applicable chief of police or the county’s chief law enforcement
officer. If the amount paid is greater than one hundred dollars, then
the name of the person or employee or the identification number of the
person or employee conducting the transaction;
(d) The name, date of birth, sex, height, weight, race, and
residential address and telephone number of the person with whom the
transaction is made;
(e) A complete description of the property pledged, bought, or
consigned, including the brand name, serial number, model number or
name, any initials or engraving, size, pattern, and color of stone or
stones, and in the case of firearms, the caliber, barrel length, type
of action, and whether it is a pistol, rifle, or shotgun;
(f) The price paid. If the amount paid is greater than one hundred
dollars the amount may not be by cash but must be by a written
instruction to pay signed by the person giving the instruction;

(g) The type and identifying number of identification used by the
person with whom the transaction was made, which shall consist of a
valid driver’s license or identification card issued by any state or
two pieces of identification issued by a governmental agency, one of
which shall be descriptive of the person identified, and a full copy of
both sides of each piece of identification used by the person with whom
the transaction was made.
At all times, one piece of current
government issued picture identification will be required; and
(h) The nature of the transaction, a number identifying the
transaction, the store identification as designated by the applicable
law enforcement agency, or the name and address of the business or
location, including the street address, and room number if appropriate,
and the name of the person or employee, conducting the transaction, and
the location of the property.

2) Property consisting of a precious metal bought or received on
consignment by any secondhand dealer with a permanent place of business
in the state may not be removed from that place of business except
consigned property returned to the owner, within forty-five days after
the receipt of the property.

It is a class C felony under chapter 9A.20 RCW for a secondhand
dealer to commit a second or subsequent violation of subsection (1) of
this section involving property consisting of a precious metal.

So not only does the small business person have the privilege of having to gather the sellers fingerprints (and hopefully store those in an appropriate manner), but they are unable to sell the item for 45 days. With the fluctuating price of precious metals what sane business person would consent to that?

A hearing is scheduled for today.

Feb 15 Scheduled for public hearing in the House Committee on Public Safety & Emergency Preparedness at 10:00 AM

If Washington State residents feel that this is a NIB that would be best stopped in Committee, here are the individuals to contact:

Committee Contact Information

Click through the above link to find the individuals that may represent you.

Introducing Legislator:

Rep. Katrina Asay


Rep. Christopher Hurst

Rep. Brad Klippert

Rep. Mark Miloscia

Rep. Kirk Pearson

News Media Concerning HB 1716:

Cash for gold buyers regulated under proposed WA bill

Bill aims to make it harder for crooks to sell jewelry

Neely, the South Hill businessman, said he doubts the bill would catch its intended target. He said he doesn’t think police will be able to, or have time to, enforce the law against transient operations.

Neely’s secondhand dealer’s license with Pierce County for his business at 14003 Meridian E. already requires him to hold items for 15 days, he said. He said he logs the seller’s name, address, phone number and driver’s license number.

Neely also objected to the legislation barring cash payment for amounts greater than $100 and requiring fingerprints.

“It’s just going to be really cumbersome having to write $100 checks when we normally pay cash,” Neely said.

“Now, I’ve to get their fingerprints? That’s just nuts.”

However the Freshman legislator thinks otherwise:

“The honest ones will be able to comply,” said Asay, who proposed the bill at the urging of Federal Way officials. “This gives the police officers the tools to make sure they’re legitimate.

“Hopefully,” the freshman legislator said, “it will dramatically reduce the break-ins in the homes.”

Actually, what just might reduce the possibility of break-ins would be the ability of a Homeowner to defend their home through the use of a handgun to deter individuals who don’t care to read HB 1716 and won’t comply anyhow.

February 15, 2011 by Lynn Swearingen

Source: The PPJ Gazette

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