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Police issue warning about buying and selling gold
Pasadena Star News ^ | 1/3/11 | Brian Day Staff Writer

Posted on 01/03/2011 10:25:09 AM PST by Nachum

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."

(Excerpt) Read more at pasadenastarnews.com ...


TOPICS: News/Current Events
KEYWORDS: gold; issue; police; warning
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To: GeronL
You need a license to buy gold?? really??

In Virginia, you need a license to be a dog.

21 posted on 01/03/2011 10:44:48 AM PST by freespirited (Truth is the new hate speech. -- Pamela Geller)
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To: Nachum

Bump for later


22 posted on 01/03/2011 10:47:04 AM PST by KarlMalarky
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To: freespirited

That should cut down on demonrat women living there.


23 posted on 01/03/2011 10:50:22 AM PST by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: freespirited

I’m in Texas. So I can be a dog if I want to.

*woof*


24 posted on 01/03/2011 10:55:18 AM PST by GeronL
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To: Zakeet

I saw this on Zero Hedge. It was hilarious.


25 posted on 01/03/2011 10:56:14 AM PST by Frantzie (Slaves do not have freedom only the illusion of freedom & their cable TV to drool at)
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To: Zakeet

lol. Thats funny.


26 posted on 01/03/2011 11:00:04 AM PST by GeronL
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To: freespirited
In Virginia, you need a license to be a dog.

So, to bring Teresa in here to the Old Dominion, John Kerry would have to stop at the nearest county office to the border and ask "where can ah git me a dawg license?"

27 posted on 01/03/2011 11:01:13 AM PST by ScottinVA (The West needs to act NOW to aggressively treat its metastasizing islaminoma!)
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To: Beagle8U
That should cut down on demonrat women living there.

We've done well in elections the past 15 months. The plan is working!

28 posted on 01/03/2011 11:03:05 AM PST by ScottinVA (The West needs to act NOW to aggressively treat its metastasizing islaminoma!)
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To: pgyanke

Buying gold requires a license?

People buy gold every day in jewelry stores, etc.

What kind of nonsense is this???


29 posted on 01/03/2011 11:07:19 AM PST by ridesthemiles
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To: Nachum

Cash can be stolen also. Perhaps its use should be prohibited as well?

Or, at least heavily regulated?

Oh, wait, the use of cash already is regulated. Any transaction over $10000 must be reported on Form 8300 to the US Treasury and any combination of business transactions over $600 during a year must be reported to the IRS on Form 1099.

In case anybody has forgotten, the USA used to be the leader of the free world. Now it’s not even a free country.


30 posted on 01/03/2011 11:28:00 AM PST by Skepolitic
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To: ScottinVA
So, to bring Teresa in here to the Old Dominion, John Kerry would have to stop at the nearest county office to the border and ask "where can ah git me a dawg license?"

He would have to have her rabies certificate in hand.

31 posted on 01/03/2011 11:35:38 AM PST by freespirited (Truth is the new hate speech. -- Pamela Geller)
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To: Skepolitic
In case anybody has forgotten, the USA used to be the leader of the free world. Now it’s not even a free country.

Between 1933 and 1974, there basically was no private ownership of gold in the U.S. Some people see certain parts of that time period as an era when the U.S. was the leader of the free world.

32 posted on 01/03/2011 11:38:38 AM PST by Prokopton
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To: freespirited
He would have to have her rabies certificate in hand.

Aha! Therein lies the problem. Her foaming at the mouth is a dead giveaway.

33 posted on 01/03/2011 11:53:32 AM PST by ScottinVA (The West needs to act NOW to aggressively treat its metastasizing islaminoma!)
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To: Nachum
I have to disagree with the prevailing attitude in this thread. I bought scrap gold during the Carter inflation years. I put an ad in the local paper, traveled to sellers' locations and paid cash on the spot. Most of my clients were glad to get money for items like old class rings.

But it wasn't long before I noticed some very shady people were calling me. I recall one very uncomfortable session with a guy in a motel room who was obviously trying to fence gold and silver jewelry from a burglary. And there were many teen-agers trying to generate drug cash from family jewelry they'd stolen.

I refused to buy from anyone I had suspicions about. I gladly registered with local law enforcement and reported any suspicious sellers. I held on to everything I bought for a specified time so any thefts could be reported and checked out. I'd been victimized by a home burglary myself years before and lost items of great sentimental value like my Mother's wedding ring which was probably pawned for drug money. I didn't want the same thing to happen to to others. While I think many things are over-regulated, I have no problem with this.

34 posted on 01/03/2011 12:29:08 PM PST by Bernard Marx
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To: ScottinVA

No, but they might stop him and ask to see his gigolo license


35 posted on 01/03/2011 1:22:06 PM PST by NonValueAdded (Palin 2012: don't retreat, just reload)
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To: Zakeet

I was able to squint enough to read the entire letter.
LOL.
It was worth the effort!


36 posted on 01/03/2011 2:33:50 PM PST by TheConservativeParty (Read my lipstick, I am Sarah Palin)
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