Thursday, January 31, 2013

HOT LINKS: New Bill Requires Gold & Silver Registration


Bundled up against the extreme cold, Julie Caruso of Akron, Ohio, waits in a long line for a tour of the White House on Inauguration Day.
Morning reading.
New Bill Requires Gold & Silver Registration With State
It has been introduced in Illinois, the most anti-gun state in the U.S.
Snip:
Creates the Precious Metal Purchasing Act.  Provides that a person who is in the business of purchasing precious metal shall obtain a proof of ownership, create a record of the sale, and verify the identity of the seller.  Provides that a person who is in the business of purchasing precious metal shall not pay for the precious metal in cash and shall record the method of payment.  Requires the purchaser to keep a record of the sale for one year or, if the purchase amount is over $500, for 5 years.  Provides that a person who violates the Act is guilty of a petty offense and subject to a fine not exceeding $500. Provides that the Attorney General may inspect records, investigate an alleged violation, and take action to collect civil penalties.

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