The state of Tennessee set laws to protect both buyers and sellers of gold. With the price of the precious metal soaring in recent weeks, law enforcement said these rules are especially important.
Anyone selling gold in Tennessee must show identification, and give an address. Buyers must document this information, pass it along to law enforcement, and hold the gold thirty days. This way, if the item was stolen, authorities have a better chance of tracking it down.
Knox County Sheriff Public Information Officer, Martha Dooley said as the price of gold has risen, so has the number of thefts.
"That's enabled us then, to spot stolen goods and its also helped us to recover stolen goods and return them then to the rightful owner," explained Dooley.
Traveling companies like Great Estate Road Show, based in Atlanta must also abide by state law. The group visited Knoxville this week to purchase gold from interested sellers.
"We follow the exact same rules as every location," said manager Rick Cicchelli.
The only difference, Cicchelli said, is in the thirty-day hold rule. Great Estate Road Show still keeps the item around, but not in Tennessee.
"We have a secure facility in Atlanta, where we are headquartered, where everything is held for "X" amount of days, depending on local laws,"
Anyone selling gold in Tennessee must show identification, and give an address. Buyers must document this information, pass it along to law enforcement, and hold the gold thirty days. This way, if the item was stolen, authorities have a better chance of tracking it down.
Knox County Sheriff Public Information Officer, Martha Dooley said as the price of gold has risen, so has the number of thefts.
"That's enabled us then, to spot stolen goods and its also helped us to recover stolen goods and return them then to the rightful owner," explained Dooley.
Traveling companies like Great Estate Road Show, based in Atlanta must also abide by state law. The group visited Knoxville this week to purchase gold from interested sellers.
"We follow the exact same rules as every location," said manager Rick Cicchelli.
The only difference, Cicchelli said, is in the thirty-day hold rule. Great Estate Road Show still keeps the item around, but not in Tennessee.
"We have a secure facility in Atlanta, where we are headquartered, where everything is held for "X" amount of days, depending on local laws,"
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