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Ellen, Attorney
Category: Business Law
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Experience:  25 years of experience helping people like you.
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Internet Besiness

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Do I need a license to buy pecious metal on the internet inthe state of Md.

Thank you for choosing me to assist you. I apologize for the delay, it seems that there have been some recent changes in the law which I needed to sift through.

The Department of Labor, Licensing, and Regulation (DLLR) requires a license for all dealers who acquire or trade secondhand precious metal objects, including gold, iridium, palladium, platinum, silver, precious and semiprecious stones, and pearls. Title 12, Business Regulation Annotated Code of Maryland defines a Dealer” as an individual who acquires commercially from the public or trades commercially with the public in secondhand precious metal objects.

There is no exception for internet buying in the Statute. I went back and read the House Bill and it appears that one of the purposes of the Statute is to require licensing for internet dealers.

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