Indiana gold dealers operate under new rules

January 13, 2014

Indiana "cash for gold" dealers now must register with the secretary of state and local police as part of a new state law designed to help authorities track stolen jewelry.

Secretary of State Connie Lawson said the new requirements, which took effect Jan. 1, will help police locate stolen gold and other jewelry sold to precious metal dealers before it's melted down.

Lawson also said the new reporting requirements will let consumers know the precious-metal dealers are operating fairly.

Dealers must report sales daily to local police, including the price of sale and either the Social Security number or driver's license number of the seller.

Dealers can apply online at the secretary of state's website. They must pay a $100 registration fee.

The legislation was passed last year by Indiana lawmakers.

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