Houston To Crack Down On Gold And Jewelry Buyers
by: Laurie Johnson, January 30, 2013 3:01:00 pm
Next week, city councilmembers will vote on an ordinance to put new restrictions on gold and jewelry buyers.
These restrictions include things like taking digital pictures of the pieces they buy as well as a photo of the person selling the item and their thumbprint.
Houston Mayor Annise Parker says it's much easier for a home burglar to carry out a ring or bracelet than a flat screen TV and the gold is easier to get rid of on the open market.
"We did a similar process when the theft of copper pipes went into the stratosphere, to try to clamp down. And at this point, you can steal gold and sell it more easily than you can steal someone's copper pipes and sell them."
Gold buyers will also be required to report their daily purchases on an internet database, where law enforcement can cross check them against theft reports.
"These precious metal dealers, 'We Buy Gold, We Buy Silver,' that everybody sees, have popped up like mushrooms almost overnight. Pawn shops are fairly heavily regulated by the state. These gold buyers need to be regulated at least as much."
Parker points out personal jewelry often has sentimental value for the owner and if this ordinance passes next week, companies will be required to wait several days before they can melt down the pieces they buy.