Jessamine County, KY Business Licensing & Operations: Secondhand Dealers (2026)

Section 113.01 defines a precious metals dealer as any business, excluding banking institutions licensed in the Commonwealth of Kentucky, making second-hand purchases of gold, silver or platinum in any form: bulk metal, coins, watches, jewelry or anything else. A purchase by a retailer or wholesaler from a bona fide manufacturer is not a second-hand purchase. The chapter is a record, reporting and holding regime run through the Jessamine County Sheriff's Department, which furnishes the standard forms.

Under § 113.02 the dealer records every purchase: date, time, amount paid, manufacturer name and pattern if ascertainable, serial number if any, distinguishing marks or engraving, weight, pattern, number of items and settings if any. The seller's name, address, date of birth, age, hair color, race, sex, height, weight, build, general appearance, distinguishing marks, legible right thumb print and a photograph are also required, along with a driver's license number or numbers from 2 IDs, which can include credit cards.

Section 113.03 requires a copy of the completed record form for the preceding day's transactions to reach the Sheriff's Department each day by 11:00 a.m. Dealers must let any member of the department examine the records and, when the records are not enough, the articles still in their possession. Under § 113.04 each article stays attached to its record form and is retained at the place of business, or another location where it can be made readily available to the Sheriff's Department, in the condition received, for 12 consecutive days after receipt. It cannot be resold, exchanged or otherwise disposed of during that time. Coins having no numismatic value, Krugerrands and manufactured ingots are held for 5 consecutive days.

Section 113.05 sets the purchase limits. A dealer cannot buy second-hand gold, silver or platinum from a minor unless a parent or guardian accompanies the minor, and cannot buy goods the dealer knows or has reason to believe are stolen.