{"data":{"id":"us-nj/n.j.-stat.-51-6a-1","jurisdiction":"us-nj","citation":"N.J. Stat. § 51:6A-1","heading":"Buyer on basis of bulk value; duties; serialized receipts; digital photographs.","body":"1.\tAny person in the business of buying precious metals who buys, attempts to buy or offers to buy precious metals on the basis of bulk value from any person who is not in the business of selling precious metals shall:\na.\tClearly and prominently display at the point of purchase:\n(1)\tHis name and address;\n(2)\tThe price being offered or paid by the buyer for precious metals expressed as price per standard measure of weight and fineness as prescribed by the Superintendent of Weights and Measures.\nb.\tInclude his name and address in all advertisements concerning such precious metals.\nc.\tWeigh the precious metals in plain view of the seller on State certified scales with the certificate of inspection clearly and prominently displayed.\nd.\tTest the fineness of precious metals, if any test is so performed, in plain view of the seller.\ne.\tIssue to the seller and keep for his own records, for not less than one year, a serialized receipt for each purchase of precious metals containing the following:\n(1)\tThe name and address of the buyer;\n(2)\tDate of the transaction;\n(3)\tThe names of the precious metals purchased;\n(4)\tThe finenesses of the precious metals purchased;\n(5)\tThe weights of the precious metals purchased;\n(6)\tThe prices paid for the precious metals at the standard measures of weight and fineness prescribed by the superintendent;\n(7)\tThe name, address and signature of the seller of the precious metals.\nf.\tObtain proof of identity from each person who sells precious metals to him.\ng.\tRetain any precious metals in the form in which they were purchased for a period of not less than two business days, minimum 48 hours.\nh.\tUpon reasonable request, allow the inspection of the serialized receipts or precious metals provided for in subsections e. and g. respectively of this section by any law enforcement officer or weights and measures official.\ni.\tObtain a bond in an amount and form prescribed by regulations of the Office of Weights and Measures.  The bond shall be obtained from a surety company authorized by law to do business in this State.  The bond shall run to the State for the benefit of any person injured by the wrongful act, default, fraud or misrepresentation of the buyer of precious metals.  No bond shall comply with the requirements of this subsection unless the bond contains a provision that it shall not be cancelled for any cause unless notice of intention to cancel is filed in the Office of Weights and Measures at least 30 days before the day upon which cancellation shall take effect.  This subsection shall only apply to transient buyers.\nj.\tMaintain, for not less than one year, digital photographs of the precious metals purchased.\nL.1981, c.96, s.1; amended 2013, c.247, s.1.","path":["TITLE 51 STANDARDS, WEIGHTS, MEASURES AND CONTAINERS"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"8508efa90d2861484c51bed048a4555aaa81cab8a201e9bf77afc31a3082030d","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-51-6-10","next":"us-nj/n.j.-stat.-51-6a-2"},"notice":"GroundRules: Original legal text. Not legal advice."}