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News Link • Gold and Silver

Minnesota Bullion Coin Dealers Law

• http://www.numismaticnews.net

(Publisher: If you live in the State of Minnesota then you are that state's livestock and purchasing Gold from anyone anywhere, even out of state, is illegal without the dealer having a license from MN to sell to you... 'cause they can)

Under the law, a dealer who has $5,000 or more of purchases and sales of "bullion coin" with Minnesota consumers in a 12-month period is required to register with the Minnesota Department of Commerce. The $5,000 threshold is determined by looking back to transactions from July 1, 2013, through June 30, 2014.  If a coin dealer passed that threshold during that 12-month period, then he is required to be registered if they want to make any sales to Minnesota customers from July 1 onward. This threshold is also met if a Minnesota consumer makes a sale or purchase with a non-Minnesota dealer at a coin show located outside of Minnesota. -

PDF of Industry Explanation

Other Related News on this issue in Minnesota:
http://www.coincommunity.com/forum/topic.asp?TOPIC_ID=181412

http://stmedia.startribune.com/documents/ProposedBill1.pdf

http://mn.gov/commerce/licensees/bullion-coin-dealer-license/surety-bond-requirements.jsp

http://mn.gov/commerce/licensees/bullion-coin-dealer-license/bullion-coin-dealer-instruction.jsp

http://mn.gov/commerce/licensees/bullion-coin-dealer-license/

https://www.revisor.mn.gov/statutes/?id=80G

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