Be Careful What You Buy at a Yard Sale

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Anyone who buys, resells any item containing gold, silver (except dental fillings) will be guilty of a Class E felony if they don't have a permit. Read More
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Be Careful What You Buy at a Yard Sale
Sat, 06/15/2013 - 8:54pm
Posted by Thrasybulus

An amendment to LD 71, ‘An Act To Regulate Dealers in Secondhand Precious Metals’, will be on the Governor's desk - soon.

Under the amendment, anyone who buys and resells any item containing gold or silver (except dental fillings - I guess there is a Third Reich lobby after all :-), such as antique dealers, EBAY patrons, yard sale aficianados, etc. will be guilty of a Class E felony if they don't have a permit issued by their town or city and get a signed sworn statement from the seller (at a yard sale?!) complete with photo ID.

These rules previously applied in part to pawn shops, but LD71 expands it to all who buy or sell - if you pick up some silverware at a yard sale, you will have to very careful not to ever resell it.

This will put a lot of antique dealers out of business in this segment of the market, and any piece that is an unknown metal (Is that lamp silver plated? Is that real gold leaf on the vase, or paint? Who knows?) will be passed over.

Here's hoping the Governor vetoes this overreach on behalf of small business owners.....

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