Pennsylvania Bullion Dealers Call Your Senators Today.

CoinZip

Dear PA Bullion Dealer,

Call your senators NOW!

The House of Representatives passed PA H 41 - Precious Metal Sale Regulation Law on March 21, 2017.

ICTA had conversations with the author of the bill, Representative Saccone, and sent a letter to the House Committee on Consumer Affairs objecting to the bill and requesting amendments. The bill was amended, but one of its key objects was not.

Please call and ask your Senator TODAY to oppose HB 41, which passed the House on March 21.

Talking points when calling your Senator:

Tell them who you are:
Identify yourself and your business, using your physical address.
Report the length of time you’ve done in business in Pennsylvania.
Provide your contact information in case the legislator wishes to respond.
Tell them why you are contacting them:
Ask them to oppose House Bill 41 (sponsor Rep. Saccone), a bill relating to “Precious Metal Sale Regulation Law.”
VERY IMPORTANT! Items #1 and #2 above are essential. 1) Fully identify yourself and your business, and 2) ask them to OPPOSE Rep. Saccone’s bill. Mention the bill by number, House Bill 41.

Here is the language we’re opposing in the bill:

(3) A photograph of each item purchased. THE ITEM, IF THE ITEM PURCHASED HAS ANY DISTINGUISHING DETAILS, INCLUDING IDENTIFYING MARKS, INITIALS, INSIGNIAS, INSCRIPTIONS OR OTHER UNIQUE IDENTIFYING FEATURES. The photograph shall be:

(i) taken from two different perspectives;
(ii) no less than 1:1 scale; and
(iii) of sufficient size and clarity to identify any distinguishing details.

Under this bill, you would be required to have two pictures of items per the language above; if you miss something and didn’t send it in, you are held criminally liable.

In calling your representative, state how HB 41 would affect you. For example, “This will bill would substantially increase my cost of doing business. Under this law, I would have to hire an additional person(s) to be able to comply.”

We cannot stress enough the urgency of making these contacts TODAY. Thank you for your time and attention on this very important request.

Please forward this email to other Pennsylvania coin-business owners.

Coinstartled

Seems to offer protection for crime victims.

ricko

That will add significant cost to a business. Cheers, RickO

Coulport

@Coinstartled said:
Seems to offer protection for crime victims.

Hardly.
After working for a shop for 10 years under the onerous city recording and reporting rules, not one item was identified as stolen or not belonging to the seller. The only suspect collection offered was researched on the dealer network and found to be stolen whereby the police were notified and they took the person and collection away.

Those kinds of laws just add time and expense to a business with little or no results to prevent crime or recover stolen merchandise.

asheland

Glad I'm not in PA

cohodk

@ricko said:
That will add significant cost to a business. Cheers, RickO

And potentially lower offers and less liquidity. Something for stackers to ponder.

Coulport

Can you imagine opening a bag of quarters and taking 8000 pictures?
If required, I could imagine someone taking very large high resolution pictures and submitting them electronically to jam up the system to make a point.

Coinstartled

""'(3) A photograph of each item purchased. THE ITEM, IF THE ITEM PURCHASED HAS ANY DISTINGUISHING DETAILS, INCLUDING IDENTIFYING MARKS, INITIALS, INSIGNIAS, INSCRIPTIONS OR OTHER UNIQUE IDENTIFYING FEATURES."""

Is a distinguishing mark something personal that would idea it beyond just being a 1964 quarter for example or is the date and mintmark enough to qualify for imaging?

I agree, 2000 images would be a failure on a bullion purchase. If one coin in the lot is engraved "love moo moo" that would be another issue.

Geckster109

There is no minimum value for objects that must be photographed?

jmski52

This isn't much different from the attempt to have 1099 Forms issued on every retail purchase over $600. Government overreach to the max. Good luck PA.