A Houston ABC News affiliate reported last week that the city council passed an ordinance that would order bullion dealers to photograph and fingerprint sellers. Gold-buying businesses must also photograph the items that are being sold to the dealer.
The purpose of this new measure is to tackle criminals who resell stolen valuables. A similar ordinance has already been implemented for scrap metal sellers and dealers.
“It’s going to allow us the tools necessary to combat a lot of the high-end jewelry thefts that’s going on in the city, whether it’s robberies or burglaries,” Houston Police Officer Rick Barajas told the news outlet.
Global Gold News reported last month of the Illinois state legislature introducing SB3341 “Precious Metal Purchasing Act,” a bill that would require the registration and even tracking of all purchases of precious metals. The legislation would order a person to obtain proof of ownership, establish a record of the sale and verify the identity of the seller.
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