A precious metal license is required when any precious metal dealer engages in the business of buying secondhand items containing precious metals. Precious "metals" means silver, gold and platinum. "Items containing precious metal" means an item made in whole or in part of metal and containing more than one percent by weight of silver, gold or platinum.
A precious metal dealer license shall authorize the precious metal dealer to transact business only at the location(s) designated in the license. A "precious metal dealer" means any natural person, partnership, or corporation, either as principal or agent, engaging in the business of buying secondhand items containing precious metal. Items containing precious metal include, but are not limited to jewelry, watches, eating utensils, candlesticks, and religious and decorative objects.
How to Apply
In order to apply, a Precious Metal Dealer License Application, Minnesota License Applicant Information Form, and Certification of Compliance with MN Workers' Compensation Law must be completed and accepted by the County Auditor before a license will be issued. You may mail or bring the forms to the County Auditor's office.
Licenses are valid one year from date of issue.
Fees and Applications
- A new or renewal license is $50.00
- We accept cash, check or money order
- Checks are made payable to Kanabec County
- Required Holding Period
Every precious metal dealer shall keep in possession at the dealer's business location or other location within the licensing county from the time of the transaction or as close thereto as possible, for a period of no less than 14 days, every secondhand item containing precious metal purchased by the dealer unless the item is purchased or consigned from another dealer licensed under section 325F.733. The item shall not be altered at the time of sale and shall remain unaltered during the required holding period.
To renew your license you must contact our office or submit the required forms and fee prior to expiration of you license.