Republican State Rep. Frank Farry of Langhorne said he is supporting legislation that would require precious metals buyers to keep greater track of their purchases.
Farry is supporting House Bill 350, which was introduced this year by western Pennsylvania Republican State Rep. Jim Rigby. The bill has been referred to the Senate Judiciary Committee.
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The bill would amend the 1984 Pennsylvania Precious Metal Sale Regulation Law that governs the record keeping and documentation required by precious metals buyers. Farry’s office said precious metals buyers are currently only required to hold an purchased item for three days before it can be sold or melted down with no requirement on how buyers must describe items in records.
The new legislation would require each purchased item to be photographed, distinguishing details must be documented, a copy of the seller’s identification, and the items must be kept for 10 business days.
Farry said his support of the bill and previous legislation came after his 2012 meeting of a local burglary victim.
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“One of the most troubling parts of the current law surrounds the short period of time which pawn shops are required to hold a precious metal purchase before it is resold or melted down,” Farry said. “In some cases, such as a theft by a relative, a victim may not have even realized their jewelry was stolen before the three-day window passed.”
It is not uncommon for burglars or those looking for quick cash to feed drug addiction to flip stolen items with precious metals buyers, like those at pawn shops. Numerous local burglary and theft investigations over the years have led to Levittown-area police showing up at local precious metals buyers
