No more "Silver-ware" Parties

By HBTV
Monday, July 12, 2010 | 11:07 AM
https://hbtv.us/news/?story_id=367

The State of Alabama is cracking down on “Silver-ware” parties, so the next time you are at a friend’s house to sell your gold, silver or other precious item, you will want to ask to see the buyer’s license. Alabama law now requires anyone who buys “precious items for the purpose of reselling” to purchase a business license and to have a permanent place of business.

The law, effective July 1, also requires dealers to maintain records concerning precious items bought for re-sale, to transmit these records to local law enforcement, and to hold items for 15 business days after reporting them. Anyone who violates the new law is guilty of a Class B misdemeanor.