N.J. Stat. tit. 51, ch. 6A

in effect

N.J. Stat. § 51:6A-1 Buyer on basis of bulk value; duties; serialized receipts; digital photographs.

1. Any 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: a. Clearly and prominently display at the point of purchase: (1) His name and address; (2) The 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. b. Include his name and address in all advertisements concerning such precious metals. c. Weigh the precious metals in plain view of the seller on State certified scales with the certificate of inspection clearly and prominently displayed. d. Test the fineness of precious metals, if any test is so performed, in plain view of the seller. e. Issue 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: (1) The name and address of the buyer; (2) Date of the transaction; (3) The names of the precious metals purchased; (4) The finenesses of the precious metals purchased; (5) The weights of the precious metals purchased; (6) The prices paid for the precious metals at the standard measures of weight and fineness prescribed by the superintendent; (7) The name, address and signature of the seller of the precious metals. f. Obtain proof of identity from each person who sells precious metals to him. g. Retain any precious metals in the form in which they were purchased for a period of not less than two business days, minimum 48 hours. h. Upon 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. i. Obtain 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. j. Maintain, for not less than one year, digital photographs of the precious metals purchased. L.1981, c.96, s.1; amended 2013, c.247, s.1.

N.J. Stat. § 51:6A-2 Registration of buyer; transient buyer; additional requirements; violation; penalty

A buyer of precious metals as provided for in this act shall, before buying, attempting to buy or offering to buy any precious metals, register with the police of the municipality in which he intends to conduct his business and give his name and address. A transient buyer of precious metals shall, in addition to the information required of a buyer of precious metals, provide the address at which he intends to do business in the municipality and shall reregister if he changes his location of doing business in the municipality or if he discontinues doing business for more than 20 days in the municipality and subsequently wants to resume doing business therein. Any person who violates any provision of this section is a disorderly person. L.1981, c. 96, s. 2.

N.J. Stat. § 51:6A-3 Penalties.

3. Any person who violates any provision of this act shall be liable to a mandatory penalty of not less than $500 nor more than $1,000 recoverable by the Superintendent of Weights and Measures pursuant to the provisions of the "Penalty Enforcement Law of 1999," P.L.1999, c.274 (C.2A:58-10 et seq.). An action for the recovery of a civil penalty for violation of this act shall be within the jurisdiction of and may be brought before the Superior Court or municipal court in the municipality where the offense is committed or where the defendant resides or where the defendant may be apprehended. A summons or warrant against any foreign business entity doing business in this State shall be processed as provided by law. L.1981, c.96, s.3; amended 1991, c.91, s.482; 2013, c.126, s.1.

N.J. Stat. § 51:6A-4 Arrest without warrant

On the violation of any of the provisions of this act within his view, a weights and measures officer may without warrant arrest the offender and conduct him before a court having jurisdiction. L.1981, c. 96, s. 4.

N.J. Stat. § 51:6A-5 Definitions

For purposes of this act: a. "Precious metals" means gold, silver, platinum, palladium and alloys thereof. b. "His name and address" means the name of the buyer and the legal name of the business under which the buyer is doing business, together with the permanent business address. c. "Transient buyer" means a buyer of precious metals as provided for in this act who has not been in any retail business continuously for at least 6 months at the address in the municipality where he is required to register or who intends to close out or discontinue all retail business in the municipality within 6 months. L.1981, c. 96, s. 5.

N.J. Stat. § 51:6A-6 Inapplicability of act to government agencies, banks, or commodity markets

This act is not applicable to government agencies, State or Federally chartered banks or Federally regulated commodity markets. L.1981, c. 96, s. 6.

N.J. Stat. § 51:6A-7 Right of municipalities to enact more restrictive ordinances or resolutions

This act is not intended, and nothing in this act shall be construed to preclude the right of any municipality to adopt and enforce ordinances or regulations more restrictive than this act or any rules or regulations promulgated thereunder. L.1981, c. 96, s. 7.

N.J. Stat. § 51:6A-8 Severability

If the provisions of any section, subsection, paragraph, subdivision or clause of this act shall be adjudged invalid by a court of competent jurisdiction, the order or judgment shall not affect or invalidate the remainder of any section, subsection, paragraph, subdivision or clause of this act and, to this end, the provisions of each section, subsection, paragraph, subdivision or clause of this act are declared to be severable. L.1981, c. 96, s. 8.

N.J. Stat. § 51:6A-9 Certification of weight or measure used by precious metals buyer.

3. a. Upon the first official inspection of any weight or measure used by a precious metals buyer not subject to the provisions of section 2 of P.L.1981, c.96 (C.51:6A-2) that has not been certified as required pursuant to subsection c. of section 1 of P.L.1981, c.96 (C.51:6A-1), the owner of the weight or measure may be afforded two days to have the weight or measure certified. If an owner fails to have the weight or measure certified within two days after the inspection, the weights and measures officer shall immediately take possession of and destroy the weight or measure, unless, in the sole discretion of the superintendent, good cause exists to allow additional time to obtain the certification or take possession of and destroy the weight or measure. b. A weights and measures officer shall immediately take possession of and destroy any weight or measure used by a transient buyer of precious metals as defined by section 5 of P.L.1981, c.96 (C.51:6A-5) that has not been certified as required pursuant to subsection c. of section 1 of P.L.1981, c.96 (C.51:6A-1). No action for damages shall lie or be maintained against a weights and measures officer for the seizure. L.2013, c.126, s.3.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.njleg.state.nj.us/legislative-activity/statutesFetched: 10/17/2026