Watch out for that is…
Gold buyers in Washington state may have to document who is selling the gold, and even fingerprint them, under a proposed bill.
The bill to regulate those who buys gold, typically at local hotels on weekends, is sponsored by Rep. Katrina Asay, R-Federal Way. Asay says police requested the regulations.
“They’ve had a rash of home burglaries where all that’s taken is jewelry,” Asay said.
Individual buyers are currently not required to document who is selling them jewelry. Under Asay’s bill, for all purchases over $100, a buyer would need to photocopy the seller’s identification and take their fingerprints. The buyer would also have to hold onto the merchandise for 45 days.
Typically, gold is immediately melted down, making it untraceable and unrecoverable by police, said Asay.
“Hopefully, it will curtail those who aren’t so legitimate,” she said.
The bill would hold gold buyers to the same restrictions pawnbrokers must currently follow.
Aww, I remember when I was that naive. I wonder if this jackass still believes in Santa Clause too.
The only “curtailing” that is going to happen is the thieves will curtail their trips to the pawn shop and will instead go to non-shop owning individuals who can run a small smelter in their garage. He’ll pay 25-50% less than current market spot value for whatever precious metals the thieves can pocket, but they’ll still get their money and not have to show ID.