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- Precious Metal & Gem Dealer
Precious Metal & Gem Dealer
Loudoun County Code (Chapter 830) requires that a dealer purchasing precious metals or gems (PMG) from the public must obtain a permit. PMG dealer permits are issued by the Loudoun County Sheriff's Office. Loudoun County limits the number of precious metal and gem dealers, to 15.
A precious metal or gem dealer is any person, firm, partnership or corporation engaged in the business of (i) purchasing secondhand precious metals or gems, (ii) removing in any manner precious metals or gems from manufactured articles not then owned by such person, firm, partnership or corporation, or (iii) buying, acquiring or selling precious metals or gems removed from such manufactured articles. This definition shall not be construed so as to include persons engaged in the following activities:
- Purchasing of precious metals or gems directly from other dealers, manufacturers or wholesalers for retail or wholesale inventories, provided the selling dealer has complied with the provisions of the ordinance
- Purchasing of precious metals or gems from a qualified fiduciary who is disposing of the assets of an estate being administered by such fiduciary
- Acceptance by a retail merchant of trade-in merchandise previously sold by such retail merchant to the person presenting that merchandise for trade-in
- Repairing, restoring or designing jewelry by a retail merchant, if such activities are within his normal course of business
- Purchasing of precious metals or gems by industrial refiners and manufacturers, insofar as such purchases are made directly form retail merchants, wholesalers, dealers or by mail originating outside the Commonwealth of Virginia
- Person regularly engaged in the business of purchasing and processing nonprecious scrap metals which incidentally may contain traces of precious metals recoverable as a by-product
The following are required by the Loudoun County Sheriff's Office to apply for a Precious Metal and Gem Dealer permit:
- Application form, Release of Personal Information form, and Reporting Agreement form; all need to be signed and notarized.
- Valid, unexpired government issued picture identification.
- Applicants who were born outside of the United States must provide valid, unexpired proof of employment authorization such as a Permanent Resident Card, Employment Authorization Card, or proof of U.S. citizenship.
- Copy of Loudoun County Business License from the Office of Commissioner of the Revenue.
- Surety bond, payable to Loudoun County, Virginia in amount of $10,000.
- Copy of Virginia "Placed in Service" report for trade scales inspected by an approved technician with the Virginia Office of Weights and Measures.
- Submit a fingerprint card (fingerprints may obtained at the Records Section at the Sheriff's Office at the time of application).
- Payment of $200 payable to Loudoun County Sheriff's Office by cash, check, or money order. Credit cards are not accepted for payment of permit fees.
Please review these requirements carefully. Failure to provide any of the required information will delay issuance permit.