IPFS 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. -
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