Buying or Selling Gold? Know the law!
The Pasadena Police Department would like to inform the public that buying gold is against the law unless you are licensed through the California Department of Justice. Gold buyers are required by law to ask for identification from whoever they buy from and maintain a description of the items they are buying. This information is then reported to local law enforcement.
“Given the current economic constraints, selling excess jewelry has become a viable option for some people,” says Chief of Police Phillip Sanchez. “But we want to caution people that care should be taken to buy from and sell to only licensed second hand dealers. This helps to prevent crime and will prevent people from buying stolen property unknowingly.” Businesses that do not possess a second hand dealer’s license and engage in buying and selling gold and other items are breaking the law, are subject to arrest, a $1500.00 fine and accusations of dealing in stolen property.
Several businesses in the City of Pasadena advertise “We Buy Gold” and these businesses must be licensed as a “Second Hand Dealer”. They are regulated by the Pasadena Police Department. Some businesses may knowingly or unknowingly take in stolen property that belongs to a victim of a crime.
This license also applies to those who are buying other used items that bear a serial number or identifying marks such as laptop computers, iPods, cell phones and gaming devices. These goods have been found to constitute a “significant class of stolen goods” and must be reported to law enforcement.
“By using reputable, licensed businesses, the average citizen can curb the buying and selling of stolen goods,” continues Chief Sanchez. “When we make it harder for thieves to sell their ill gotten gains, there is more of a chance to stem property crimes related to burglary.
For more information or to become licensed by the Department of Justice, please call Detective Sergeant Marie Sell at 626-744-3816.