How to Become a Gold Dealer in California
Gold dealers are businesses that buy and sell valuable gold items. In the state of California, all resellers and pawnbrokers must hold a license from the government. California does not require a separate license specifically for gold resellers but treats gold dealers the same as antiques stores and other similar businesses. The reseller license application process is used to ensure that only law-abiding and financially sound individuals operate these types of reseller businesses.
Other People Are Reading
Instructions
-
-
1
Request "Form JUS 125," the Secondhand Dealer or Pawnbroker License Application, from the California Department of Justice. This form can also be accessed online from the department's website.
-
2
Fill in the requested personal and business information for Form JUS 125. On the form, select whether the business will operate as a direct gold reseller or will both buy and resell gold as a pawnbroker.
-
-
3
Obtain and complete "Form BCII 8016," the Request for Live Scan Service. This form is available from the California Attorney General, or online. Live Scan is a type of electronic fingerprinting that is used to perform criminal records checks in California.
-
4
Visit a Live Scan fingerprinting location and deliver the completed Form BCII 8016. Perform the electronic fingerprinting procedure. The office will forward the fingerprint data along with the form to the California Department of Justice. A list of Live Scan locations is available at the California Attorney General website.
-
5
Prepare both a $20,000 surety bond and a financial statement of $100,000, if the business will be operating as a pawnbroker. The surety bond is used to cover damages in the case of criminal activity, while the financial statement verifies that the business has sufficient operating assets. These are not required if the gold dealer business is a reseller and not a pawnbroker.
-
6
Pay the required application fees. The application processing fee is $195, while the Live Scan fee is $32. This payment must be made to the California Department of Justice.
-
1
