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Bill would require coin dealers to keep records, photos

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A bill introduced into the Connecticut legislature would require all coin dealers, precious metal dealers, and precious stone dealers to keep detailed records of every purchase they make.

Everything you need for collecting U.S. coins is on this CD.

Everything you need for collecting U.S. coins is on this CD.

That would include any identifying information on the items purchased, photographs of each item purchased, as well as name, address, phone number, and photo identification of each person they buy something from.

Senate Bill 928 would require precious metals or gemstones dealers to provide a periodic statement of transactions in an electronic format to the local licensing authority and retain any goods purchased for at least 10 days.

Dealers have raised concern over the amount of time it would take to photograph large purchases of coins.

Progress on the bill can be tracked here.

 

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