NUMISMATIC AND BULLION DEALERS

Salt Lake City Code tit. 5, div. II, ch. 5.47

in effect

Salt Lake City Code § 5.47.010 DEFINITIONS

5.47.010: DEFINITIONS: For purposes of this chapter, the following words shall have the meanings as defined in this section: BULLION: Items of or containing gold, silver, platinum or palladium in any form or shape including, but not limited to, bars, ingots or medallions which: A. Are gold or silver coins originally minted or manufactured as legal tender in their country of origin, but which, because of their physical condition, have little or no numismatic value and which are bought, sold, bartered or exchanged based on the value of the gold or silver they contain and are commonly known as "junk silver" or "junk gold"; or B. Carry a hallmark which: 1. Identifies the manufacturer, 2. States the degree or percentage of purity, and 3. States the weight of the item; and C. Are of a purity at or exceeding eighty percent (80%), i.e., the item is composed of or contains eighty (80) parts of gold, silver, platinum and/or palladium to twenty (20) parts of other metal(s). Bullion does not include sterling silver flatware or utensils and does not include jewelry containing gold, silver, platinum or palladium. BULLION DEALER: Any person who engages in the business of purchasing, selling, bartering or exchanging bullion. COINS: Pieces of metal money issued by any government as legal tender in the country of origin and includes commemorative coins, mint sets and proof sets, but does not include items manufactured primarily for transfer as bullion including, but not limited to, Krugerrands, Maple Leafs and Austrian Coronas. "Coin" refers to a single piece of money as defined in this subsection. CURRENCY: Paper money or money of a material other than metal which was originally printed, minted or manufactured as legal tender in the country of origin and includes commemorative currency. NUMISMATIC DEALER: Any person who engages in the business of purchasing, selling, bartering or exchanging coins or currency. (Ord. 31-90 § 10, 1990)

Salt Lake City Code § 5.47.020 LICENSE; REQUIRED

5.47.020: LICENSE; REQUIRED: It is unlawful for any person to operate as a numismatic dealer and/or bullion dealer without first obtaining a license to do so. (Ord. 31-90 § 10, 1990)

Salt Lake City Code § 5.47.030 LICENSE; FEE

5.47.030: LICENSE; FEE: The license fee for a numismatic dealer and/or bullion dealer shall be as shown on the Salt Lake City consolidated fee schedule. (Ord. 24-11, 2011)

Salt Lake City Code § 5.47.040 RECORDKEEPING REQUIREMENTS

5.47.040: RECORDKEEPING REQUIREMENTS: A. It is unlawful for any person licensed pursuant to this chapter to fail to keep upon the licensed premises a substantial and well bound book, in which such person shall enter in the English language at the time of receiving any goods, including those on consignment, and including coins, currency or bullion: 1. An accurate account and description of each item received, including, but not limited to, all names, numbers and other identifying marks, and including all indications of ownership thereon; except that bullion coins may be described in bulk by identifying the number of coins, their metallic composition, their denomination, and their face value; 2. The amount of money paid or value of property traded; 3. The date, both day and hour, of receiving such items; 4. The name, address and description of the person making the transaction; and 5. A numerical identifier obtained from identification containing a photograph of the person making the transaction. The person presenting the identification must be the same person whose photograph appears upon the identification. B. The description required by subsections A1 and A4 of this section shall include such further information or description or identification marks as may be required by the City Police Department in bulletins given to licensees from time to time. C. Each licensee shall also keep a separate record which shall be sent to the Police Department and which shall be cross referenced to the book referred to in subsections A and B of this section, and which shall contain, in addition to the requirements of said subsections: 1. A certificate, accompanied by the signature of the person delivering such item(s), that he/she has the legal right to sell the items; and 2. A legible signature of the person receiving the item at the time of transaction of each item. D. No entries on any record shall be erased, obliterated or defaced; all entries shall be made with nonerasable ink in a legible manner; and the receiving licensee shall keep the record available during business hours for inspection by any police officer. E. The records required to be maintained by this chapter shall be maintained by the business for a period of two (2) years from the date of the transaction. (Ord. 31-90 § 10, 1990)

Salt Lake City Code § 5.47.050 RECORDS; COPIES TO POLICE DEPARTMENT

5.47.050: RECORDS; COPIES TO POLICE DEPARTMENT: It is unlawful for any person licensed pursuant to this chapter to fail to submit a copy of all entries required to be maintained by this chapter to the City Police Department upon request by such agency. (Ord. 31-90 § 10, 1990)

Salt Lake City Code § 5.47.060 EQUIVALENT ALTERNATIVE METHODS OF REGULATION

5.47.060: EQUIVALENT ALTERNATIVE METHODS OF REGULATION: A. Whenever a person regulated under this chapter alleges that specified requirements of this chapter are impracticable or excessively burdensome as applied to such person, he/she may file with the Mayor a written petition setting forth such allegations and presenting suggested methods of regulation of such person by the City in lieu of enforcement of the specified requirements of this chapter so objected to. The Mayor may either approve or deny the proposed alternative methods of regulation proposed by the petitioner or may approve other alternative methods of regulation. Upon approval by the Mayor, such alternative regulation(s) shall be as obligatory upon the petitioner as if such had been specific requirements set forth in this chapter, the violation of any of which alternate regulations shall constitute a violation of this chapter. B. The standard for approval of any such alternative regulation(s) shall be that they are equivalent to the requirements of this chapter which they would supplant, in meeting the objectives which underlie this chapter; namely, inhibiting theft and trafficking of stolen merchandise and providing adequate opportunity for examination by the police of transactions governed by this chapter. (Ord. 31-17, 2017)

Salt Lake City Code § 5.47.070 HOURS OF BUSINESS

5.47.070: HOURS OF BUSINESS: It is unlawful for any person licensed pursuant to this chapter to keep his or her place of business open for trade before the hour of seven o'clock (7:00) A.M. or after seven o'clock (7:00) P.M.; provided, however, that on Saturday of each week, and on days preceding legal holidays, and the last fifteen (15) days of December of each year, it shall be lawful for such licensees to keep his or her place(s) of business open until eleven o'clock (11:00) P.M. (Ord. 31-90 § 10, 1990)

Salt Lake City Code § 5.47.080 FURNISHING OF FALSE INFORMATION

5.47.080: FURNISHING OF FALSE INFORMATION: It is unlawful for any person to wilfully give the licensee or his or her agents or employees false or misleading information which the licensee is required by this chapter to obtain from such person. (Ord. 31-90 § 10, 1990)

Salt Lake City Code § 5.47.090 DEALING WITH CERTAIN PERSONS PROHIBITED

5.47.090: DEALING WITH CERTAIN PERSONS PROHIBITED: It is unlawful for any person licensed pursuant to this chapter, or any employee of any person licensed pursuant to this chapter, to receive any items from a person who is under eighteen (18) years of age, or who is either intoxicated or obviously mentally deficient. (Ord. 31-90 § 10, 1990)

Salt Lake City Code § 5.47.100 ITEMS WITH ALTERED IDENTIFICATION NUMBERS

5.47.100: ITEMS WITH ALTERED IDENTIFICATION NUMBERS: No business licensed pursuant to this chapter shall receive any item which has obviously had the manufacturer's serial number or an owner's personal identification mark altered, defaced or obviously mutilated or removed. (Ord. 31-90 § 10, 1990)

Salt Lake City Code § 5.47.110 LIABILITY FOR ACTS OF EMPLOYEES

5.47.110: LIABILITY FOR ACTS OF EMPLOYEES: The holder of a license under this chapter is strictly liable for any and all acts of his or her own employees and for any violation by them of any provisions of this chapter. (Ord. 31-90 § 10, 1990)

Source: Salt Lake City, Utah, City Code (American Legal Publishing, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/saltlakecityut/latest/saltlakecity_ut/0-0-0-46965Fetched: 11/1/2026