Gold Seller in Houston must provide fingerprints and mug shots
ttown
Posts: 4,472 ✭✭✭
ttown
Posts: 4,472 ✭✭✭
ttown
Posts: 4,472 ✭✭✭
Comments
Loves me some shiny!
This applies to Crafted precious metals only (i.e. jewelry). Coins and bullion are specifically exempted from the ordinance.
For the specific language, go to this PDF and scroll to page 112: http://www.houstontx.gov/citysec/backup/2013/020513.pdf
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
bogus,
bob
<< <i>Hello Ed, I just thought I'd let you know that yesterday I went to Ambassador Jewelers here in Tucson to sell (sadly) a measly 10 ounces of silver. To do so I had to submit to having my right index finger inked and fingerprinted. When I told them (politely) that I would prefer not to have to have my finger inked up and pressed onto a piece of paper I was informed that they would be unable to purchase the silver. I asked them when this process of finger printing became a standard step they told me January 1st of this year. Furthermore, a few months ago when I went to my bank (Wells Fargo) to cash a check from Ambassador (any time you cash in more then $600 of precious metals here in Tucson you are issued a check instead of cash) the teller at the bank asked me what the check was for. I asked the bank clerk to elaborate on what she meant by 'what the check was for'. The teller (a nice young lady) told me it was now 'required policy to ask everyone who was cashing or depositing a check from a jewelry store, coin store or a coin & stamp store'. I told this clerk that in all fairness it was none of the bank's business why the jewelry store issued me a check. At this the clerk went and got the bank manager. I told the bank manager that it was none of the bank's business why the jewelry store issued me a check. The bank manager told me that he was required to record this information otherwise he could not process the check. I asked him if he couldn't process the check or the bank couldn't process the check (I was starting to get irritated). So I said I worked at the store and this was a paycheck, then said that I had robbed a home, stolen some jewelry and sold that to Ambassador, then I said I had bought them all lunch and this check was to cover my expenses. Admittedly I was being an ass but I was very agitated about this intrusion into my personal business. So we had this little stand off until I said (firmly and evenly) that I sold a couple of my watches. At this they processed my check. Anyway, the reason for my email was to let you/others know that, at least in Tucson, when you sell any precious metals (even 10 measly ounces of silver), you will be fingerprinted. And so it goes ... (down the toilet). All the best, >>
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Several people who commit the crimes, don't take the gold directly into the place to sell, they use other individuals who have clean records to sell it for them. This includes pawn shops, gold buying places, etc
As far as a way around the tax issue, some sellers do not patron a place that pays by check, they go where the cash is paid out. Jan 1 13, the pawn shops around here pay out max 600 cash for PM based gold/silver. The gold buying shops are supposed to do the same, but they all don't necessarily do It like they are supposed too. And there are so many, practically one on every corner. The sellers know who does and don't follow the law.
some place don't even take id's. I have herd some of the gold buying shops almost encourage their patrons (the shady sided ones) to steal, by dropping subtle comments about working with folks to skate around the law and get all you can , just to get them to bring the gold in.
When I ran my store front (which was initially a coin shop, turned gold buying place) I always tried to follow the law and rules , and never knowingly took in stolen property, or even questionable stuff, If I had suspicions I would usually politely pass or decline to take it. But honestly , some people who you would never guess, were as clean cut as they come, turn'd out to be thiefs and thugs. Police came by on more than one occasions investigating robberies, stolen jewelry, coins , etc.
It was good money , but glad I am out of that side of the biz. Not to mention all the safety concerns that went along with operating a store front .
I had a coin stolen in California and it turned up on eBay two years later for sale in Louisiana. Fortunately all my stuff was in a safe deposit box except one which I had bought a few days earlier. The trail went back to Texas where it died at some dealer who claimed ignorance. The cops wouldn't tell me who the scumbag dealer was. IMO if dirt bags like this don't keep records of some kind they should be liable and subject to some sort of penalty.
<< <i>all the burglarly loot will now be sold across the border >>
Or sold to the fronted Cash$4Gold operations and shipped overseas to China and Indian.