• Precious Metals Dealers

The Division of Financial Institutions regulates precious metals dealers pursuant to Chapter 4728 of the Ohio Revised Code.

Licensing

A person wishing to engage in the business of purchasing articles made of or containing gold, silver, platinum, or other precious metals or jewels of any description if, in any manner, including any form of advertisement or solicitation of customers, the person holds himself, herself or itself out to the public as willing to purchase such articles must first obtain a license.

Instructions and the forms required to apply for a precious metals dealer’s license can be obtained at http://com.ohio.gov/fiin/forms.aspx. The Division will investigate the applicant to determine they meet all the statutory requirements for licensure under the act.

Licenses must be renewed annually. Each precious metals dealer location must be individually licensed. If an office is to be relocated, the licensee must obtain a new license from the Division prior to conducting business at the new location.

Compliance

Registrants and licensees are responsible for understanding and complying with the applicable statutes. The Division will periodically examine registrants for compliance with Ohio law and has the power to issue subpoenas in the process of conducting examinations and investigations.

In addition, the Division may deny applications for registration, revoke, suspend, or refuse to renew certificates of registration, or impose fines against registrants and licensees pursuant to the Ohio Administrative Procedures Act, Chapter 119 of the Ohio Revised Code.

Questions regarding the industries regulated by Consumer Finance may be e-mailed to: webdfi-cf@com.state.oh.us