MONROE — The price of gold may be hitting record levels, but don’t think about selling it or other precious metals or jewels in the township without a license.
At its March 2 meeting, the Township Council unanimously adopted an ordinance regulating the selling and purchasing of gold, silver and other precious metals.
When asked if any specific incidents had prompted the ordinance, township Business Administrator Wayne Hamilton said the ordinance was drafted at the request of the police department. Hamilton said that most of the regulations being put in place are comparable to those found in other municipalities.
No one under the age of 21 would be allowed to participate in such transactions, he noted.
According to the ordinance, no individual, person, partnership or corporation shall engage in the business of purchasing precious metals and gems, and all forms of previously owned jewelry, without first obtaining a permit from the township zoning officer and a license from the municipal clerk. The initial application for the license fee will cost $200, and there is an annual renewal fee of $50 for each premise on which the regulated activity is conducted. Also, licensees must deliver a bond to the township clerk in the amount of $10,000, executed by the applicant as the principal with a surety company authorized to do business in the state.
Upon receipt of the application and fee, the township clerk will refer the application to the chief of police, “who shall institute such investigation of the applicant’s moral character and business responsibility as he deems necessary for the protection of the public welfare,” according to the ordinance.
The police chief may recommend that the license be denied for reasons including information that the applicant is not of good moral character or has questionable business responsibility, or if the applicant has been convicted of any crime or disorderly persons offense involving dishonesty, fraud, deceit or misrepresentation or for failure to execute a waiver authorizing a criminal history check to be conducted.
In addition, the ordinance prohibits anyone from going from house to house soliciting the purchase of old gold, old silver or other precious metals. Violations may be punished with a maximumfine of $2,000 or 90 days of imprisonment, or both, at the discretion of the municipal judge.