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Division of Occupational and Professional Licensing
Summary of Recent Changes to Law Regulating Secondhand Precious Metal Object Dealers and Pawnbrokers
- Maryland Licensing of Secondhand Precious Metal Objects Dealers & Pawnbrokers
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- HB 206 -
Securing and Tagging Items (PDF document)
Permits dealers to place all items that were acquired in a single transaction in a container
for which prior approval from local law enforcement has been granted if 1) each item has a
separate written record and 2) the container is secured and tagged with the transaction
number that corresponds to the transaction number on the daily report forms and filed with
the local law enforcement agency. The transaction number must remain on each item for as
long as the item remains in the dealer's inventory.
- HB 195 -
License Application and Renewal Fees (PDF document)
Increased the initial fee for a license to $300; and increase the fee to renew the license to $265.
- HB 1116 -
30-Day Holding Period- Price Georges County Licensees (PDF document)
Requires dealers who hold a secondhand precious metal object dealers license in Prince
Georges County to hold acquired precious metal objects in a location in Prince Georges
County for a period of 30 days after the item was reported to the County's police department.
- HB 1143 -
Exempted Transactions and Record Keeping Requirements (PDF document)
Exempts jewelers who accumulate pieces of precious metals during the course of performing repairs,
remountings, fabrications or custom orders from the provision of the law.
Also, items must
remain tagged for the entire period they remain in the dealer's inventory. This law
the primary (local) police department to adopt a procedure for a dealer to amend a transaction
report filed with the police department.
- HB 319 -
Limitations on Non-Business Location Transactions; Advertising Requirements (PDF document)
Limits authorized transactions to judicial or estate sales and private sales between a dealer
and owner of a precious metal object at the home of the owner.
Prohibits "Hotel Gold Shows"
and "Home Gold Parties" where a transaction is completed on site.
Requires all advertisement
concerning a dealers acquisition of secondhand precious metal objects to include the dealer's
name and DLLR's license number. Prohibits an unlicensed individual from advertising the purchase
of a secondhand precious metal object. Requires the written record of each transaction to remain
in the dealer's place of business. Allows a dealer to request an extension of 48 hours to file a
- SB 597 -
Electronic Reporting Requirements for Daily Transaction Reports (PDF document)
Requires dealers to electronically report daily transaction reports to local law enforcement agencies.
- HB 422 -
Definition of Dealer(PDF document)
Adds to the definition of dealer as an individual "who for compensation arranges
for the sale or delivery of a secondhand precious metal object on behalf of a person
who does not hold a license. Explicitly requires the fixed business address of a licensee
to be located in Maryland."