§ 43.54. Precious Metals—Definitions of Terms Used in Sections 43.55 through 43.58.

(1)

Precious Metal means any item containing any gold, silver, or platinum, or any combination thereof, excluding:

(a)

Any chemical or any automotive, photographic, electrical, medical, or dental materials or electronic parts.

(b)

Any coin with an intrinsic value less than its numismatic value.

(c)

Any gold bullion coin.

(d)

Any gold, silver, or platinum bullion that has been assayed and is properly marked as to its weight and fineness.

(2)

Precious Metals Dealer means any person who buys used precious metal for resale excluding:

(a)

Any person, firm or corporation the principal business of which is the retail sale of new goods and which accepts for trade-in previously owned precious metal in a transaction involving the sale of new goods, provided the traded-in precious metal was originally purchased from that person, firm, or corporation.

(Ord. of 5-18-1981, § 1; Ord. of 10-5-1981, § 1; Ord. of 9-16-1985, Doc. #19714)