CA. Police Department would like to inform the public that buying gold is against the law

[teacherone]

PASADENA - As soaring gold prices tempt many to sell off jewelry and other gold items, police are working to keep thieves from taking advantage of the trend by making it difficult to sell stolen gold.

With gold selling for more than $1,400 per ounce, officials remind the public that there are laws governing the buying and selling of gold, Pasadena police said in a written statement.

"The Pasadena Police Department would like to inform the public that buying gold is against the law unless you are licensed by the California Department of Justice," the statement said.

In addition, police added, "Gold buyers are required by law to ask for identification from whoever they buy from and maintain a description of the items they are buying. This information is then reported to law enforcement."

"We want to caution people that care should be taken to buy from and sell to only licensed second-hand dealer," Police Chief Phillip Sanchez said. "This helps to prevent crime and will prevent people from buying stolen property unknowingly."

When not complying with the law, according to the police statement, "Some businesses may knowingly or unknowingly take in stolen property that belongs to the victim of a crime."

Business operators that buy or sell gold without a license are subject to arrest, a $1,500 fines and accusations of dealing in stolen property, police added.

Read more: http://www.pasadenastarnews.com/news...#ixzz1ANoBVj5K

[txaslftist]

But buying TVs and Stereos and tools and a host of other crap that could be lifted in a burglary is still perfectly okay, citizens, so carry on fences.

But goldbugs beware!! We are watching you.

[Dr.3D]

Well, now that they have said that, we can expect people to buy and sell more gold than ever.

[Bern]

California sounds awesome!

[muzzled dogg]

f'n wow

[Philhelm]

Uh oh! We better not use cash either. You never know, I could have mugged someone, or picked up a bill on the ground, before buying that candy bar.

[Liberty_Mike]

"The Pasadena Police Department would like to inform the public that buying gold is against the law unless you are licensed by the California Department of Justice," the statement said.

Does this mean you have to have a license to buy any piece of jewelery that contains gold?? The state is a joke!

[outspoken]

Perhaps someone should inform CA and all government that it is against that law of man and conscience to make government greater than the individual. This kind of crap is right up their with the Catholic Church in the dark ages charging people to be forgiven of their sins. CA has a serious God Complex and need to be reminded!

[Austrian Econ Disciple]

Let California collapse. All you liberty lovers in California please think about moving to New Hampshire.

[oyarde]

This is california , so , I suspect the license is expensive and they need everyone to buy one .

[Reason]

Do we even know if that is remotely true?

"buying gold is against the law unless you are licensed by the California Department of Justice"

[squarepusher]

Let California collapse. All you liberty lovers in California please think about moving to New Hampshire.

cam i collect CA unemployment while in New Hampshire?

[Agorism]

Is this just a Ca thing?

[Bern]

Someone on another forum looked into this and this is what he found:

21628: Every secondhand dealer or coin dealer described in Section 21626 shall report daily, or on the first working day after receipt or purchase of the property, on forms either approved or provided at actual cost by the Department of Justice, all tangible personal property, except for firearms, which he or she has purchased, taken in trade, taken in pawn, accepted for sale on consignment, or accepted for auctioning...

21627(d): As used in this article, "tangible personal property" does not include coins, monetized bullion, or commercial grade ingots of gold, silver, or other precious metals.

21637: ... no city, county, or city and county or any other state agency shall adopt the following:
(a) Holding, reporting, or identification requirements for transactions involving coins, monetized bullion, or commercial grade ingots of gold, silver, or other precious metals.

http://www.leginfo.ca.gov/cgi-bin/wa...ction=retrieve

... the code seeks to regulate the acquisition of tangible personal property in the course of primary business. The code specifically exempts PM coins and "Persons who... infrequently conduct their business directly with members of the general public. As used in this subdivision, "infrequently" means occasional and without regularity." [21629 (f)].

CALIFORNIA BUSINESS AND PROFESSIONS CODE
SECTION 21625-21647
http://www.leginfo.ca.gov/cgi-bin/di...le=21625-21647
http://www.leginfo.ca.gov/statute.html

It would seem that the Pasadena police and Pasadena Star News have overstated the case.

[mczerone]

What other things would the purchase of them require such laborious state licenses? Guns?

This is a base metal that is being traded, how do the Legislators justify these restrictions? It's not like gold can be used to go on a shooting spree.

The only thread that ties the purchase of gold to the purchase of guns is that they can be used to defend the individual from depredations by the State - and the State can't allow that.

[cindy25]

Is this just a Ca thing?

certainly not; many states have onerous 2nd hand laws, such as Florida. and some even have holding laws, where a coin dealer is required to hold for 15 or 30 days the coins, so the police can go on fishing expeditions every time some old bitch reports her 1921 silver dollar has been stolen.

[Carson]

"The Pasadena Police Department"

Aiding and abetting illegal aliens is against the law also. Not upholding your oath of office in the manner in which they do is tyranny in my estimation.

This must be some of that free trade they've be touting about.

[Pauls' Revere]

Let California collapse. All you liberty lovers in California please think about moving to New Hampshire.

So, silver is okay then?

Yes, I've thought about other countries entirely.

[CaliforniaMom]

Just for the record, it's not illegal to buy gold in California. There's even a coin shop in the mall nearby that sells gold coins to anyone, and buys gold from people as well. I think the journalist who wrote this article was confused.

[Carson]

This story sort of reminds me of the stories of thugs going around collecting their protection payments.

More accurately would be that they want to make sure that people are paying their capital gains on False Profits.

A while back I heard a story about a company that was paying wages with silver coins. Since the silver was worth about ten, but said one dollar on it, the company didn't have to withhold any taxes. When the government tried to take them to court the court said since the face values says a dollar they owe taxes on a dollar.

I heard to fix this the government passed a law saying that you have to pay something like a third of the gain you make when you sell the coins in capital gains.

It is reality paying taxes on False Profits.

Something like silver, gold, or stocks should be a safe way to protect your savings from inflation. With the capital gains taxes on False Profits they once again suck the life out of life.

This shows how many times over they have counterfeited the money supply.



See the little bumps during times of war? That is when they printed up counterfeit money and introduced it into the system to pay for wars. It looks like they are now at war with all of us.

Here is how the stock market has followed the devaluation of the dollar.



This may have had something to do with it.

[cindy25]

Just for the record, it's not illegal to buy gold in California. There's even a coin shop in the mall nearby that sells gold coins to anyone, and buys gold from people as well. I think the journalist who wrote this article was confused.

what they mean is that in order to buy gold from the public, at a coin shop, motel, mall etc you need to jump thru their hoops, give up your rights