Black Hills Knowledge Netowork

June 28, 2013

Gem and Precious Metal Dealers Question Revision

The City of Rapid City is considering a revision to an existing ordinance which has local gem and precious metal dealers up in arms.

The City of Rapid City is considering a revision to an existing ordinance which has local gem and precious metal dealers up in arms. The revision would seek to regulate businesses that deal in gems and precious metals, placing them under the same framework as pawn shops. According to the Rapid City Journal, gem and precious metal dealers feel that the new regulations would have a negative impact on their businesses. The City of Rapid City is considering the revision in an effort to inhibit the sale of stolen goods in the area, and to update an ordinance that’s more than 30 years old.

The proposed ordinance can be read in the agenda item summary. Comments made by local dealers can be found in the meeting minutes. For more Legal & Finance coverage, please visit our archive.

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