A license is required when any precious metal dealer engages in the business of buying secondhand items containing more than one percent by weight of silver, gold or platinum. A precious metal dealer license authorizes the dealer to transact business only at the location or locations designated in the license.
A precious metal dealer is defined as any natural person, partnership or corporation, either as principal or agent, engaging in the business of buying secondhand items containing precious metal, including, but not limited to, jewelry, watches, eating utensils, candlesticks and religious and decorative objects. Dealers may include pawn shops, coin dealers and some jewelry stores.
“Precious metals” are silver, gold and platinum. Items containing precious metal are made in whole or in part of metal and containing more than one percent by weight of silver, gold or platinum.
The county Auditor’s Office issues and administers precious metals dealer licenses for precious metals dealers conducting business in Otter Tail County. To apply or renew a license, please contact the Auditor’s Office.
Otter Tail County Precious Metals Dealers License Application Requirements
- Completed Precious Metal Dealer License Application form
- $25 fee payable to Otter Tail County Treasurer
- Completed MN License Applicant Information form
- Completed Certification of MN Workers Compensation Compliance form