New York & New Jersey Jewelry Buyers
Mar 20, 2013 2:32 pm
If you we're thinking of selling gold be sure to bring a drivers license or other government issued identification with you! Recently a potential customer walked in and we made and offer to buy, although his license became an issue upon inspection and sadly - he was turned away!
The first reason gold buyers require ID is the federally mandated Patriot Act, enacted after September 11th. One provision requires every gold buyer to implement an "Anti Money Laundering Policy" in order to prevent and report suspicious activity.
Additional regulations are mandated by NYC Department of consumer affairs ( or your local jurisdiction ), these rules are in place to prevent NYC gold buyers from purchasing stolen merchandise from less than honest gold sellers. so before you run out of the house with a fistful of gold ready to cash out, remember to bring ID.
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