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ORDINANCE NO. 09 - 96 <br />limited to, jewelry, watches, eating utensils, candlesticks, and religious <br />and decorative objects. Persons conducting the following transactions <br />shall not be deemed to be Precious Metal Dealers: <br />(A) Transactions at occasional "garage" or "yard" sales, or estate sales <br />or farm auctions, except that precious metal dealers must comply <br />with the requirements of Minnesota Statutes, Section 325F.734 to <br />325F.742, for these transactions. <br />(B) Securities transactions regulated by Minnesota Statutes, Chapter <br />80A. <br />(C) Transactions regulated by the Federal Commodity Futures <br />Commission Act. <br />(D) Transactions involving the purchase of precious metal grindings, <br />filings, slag, sweeps, scraps, or dust from an industrial <br />manufacturer, dental lab, dentist, or agent thereof. <br />(E) Transactions involving the purchase of photographic film, such as <br />lithographic and X-ray film, or silver residue to flake recovered in <br />lithographic and X-ray film processing. <br />(F) Transactions involving bullion or ingots. <br />(G) Transactions in which the secondhand item containing precious <br />metal is exchanged for a new item containing precious metal and <br />the value of the new item exceeds the value of the secondhand <br />item, except that a person who is a precious metal dealer by <br />engaging in a transaction which is not exempted by this section <br />must comply with the requirements of Minnesota Statutes, Section <br />325F.734 to 325F.742. <br />(H) Transactions between precious metal dealers if both dealers are <br />licensed under Minnesota Statutes, Section 325F.733, or if the <br />seller's business is located outside of the state and the item is <br />shipped from outside the state to a dealer license under Minnesota <br />Statutes, Section 325F.733. <br />8. Precious Metals. Silver, gold or platinum. <br />9. Secondhand Goods Dealer. Any person engaging in the business of <br />buying and/or selling secondhand items, except: <br />(A) Precious metal dealers and pawnbrokers; <br />(B) Persons conducting transaction at occasional "garage" or "yard" <br />sales, or estate sales or farm auctions; <br />(C) Repurchases of agricultural machinery or implements pursuant to <br />Minnesota Statutes, Section 325E. 05 or 325E.06; <br />(D) Recyclers, including but not limited to motor oil, aluminum, iron, <br />glass, plastics and paper; <br />(E) Dealers of used motor vehicles; <br />PAGE 2 <br />