A precious metal dealer license, as defined in MN Statute 325F.731 Subd. 2, is required when any precious metal dealer engages in the business of buying secondhand items containing precious metals. A precious metal dealer license authorizes the precious metal dealer to transact business only at the location or locations designated in the license.
"Precious Metals" as defined in MN Statute 325F.731 Subd. 3, means silver, gold, and platinum.
Licenses are valid for one year from the date of issuance.