Precious Metals Dealer Permit

Any person wishing to deal in a precious metal (gold, silver, platinum, or palladium but excluding coins, medals, medallions, tokens, numismatic items, art ingots, or art bars) in the City of King must obtain a permit for their business from the Police Department.  That permit must be renewed annually for that dealer to stay in compliance.  Before any permit can be issued to a precious metals dealer, that dealer must provide a copy of documentation proving that they have executed a “satisfactory cash or surety bond or establish a trust account with a licensed and insured bank or savings institutions in North Carolina in the sum of $10,000.”  They must then proceed as follows: 

1.    Furnish the Police Department a completed and notarized Application for Precious Metals Dealer Permit;  

2.    Submit a recent photograph and set of fingerprints;

3.    Provide a record of any felony convictions and/or record of other conviction in the past five years;

4.    Pay a non-refundable administrative application fee of $180; 

5.    A waiting period of 30 days will follow.  Then, if approved, the Police Department will issue a certificate of compliance to the dealer after receiving an additional fee of $10.  This certificate may be renewed annually for only $3, plus the annual fee of $180. 

Note that these fees are set by the state statute, not by the City.       

The application form and other pertinent documents can be found at http://www.nccrimecontrol.org under Precious Metal Business Forms.