South Holland Creates Special Metals Dealer License

Village officials passed an ordinance on Monday that would mandate the purchase of a South Holland, IL business license by all local precious metals dealers.

Ironically, there are currently no gold or jewelry dealers in South Holland, a village in Cook County, Illinois. Village leaders, however, decided that the increase in precious metals dealings across the nation may soon find its way to South Holland, and they want to be prepared for that eventuality. As NWI quotes Village President Don De Graff having said, "If someone applies for a business license, we want to be in a position to regulate that business."

In order to qualify for the South Holland precious metals dealer license, business owners would have to abide by a number of regulations. Not only would they have to keep written records of every purchase and sale, they would also have to videotape every transaction and have these records available for police investigations. Business can only be conducted with adults over age 18 and dealers would have to hold on to any item sold to them for seven days before reselling it.

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