Nicholasville, KY Business Licensing & Operations: Secondhand Dealers (2026)
Key Facts
- Covered metals
- Gold, silver, platinum, copper and aluminum
- Daily report
- Copy of prior day's record to the police department by 11:00 a.m.
- Holding period
- Six consecutive days; five for coins without numismatic value, Krugerrands and ingots
- Minors
- No secondhand purchase of covered metals from a minor
- Aluminum cans
- No form or holding period required
Summary
Nicholasville regulates secondhand purchases of gold, silver, platinum, copper and aluminum through Chapter 16. Dealers must keep a purchase record on police department forms, send a copy of the prior day's record to the police department each day by 11:00 a.m., and hold items for six consecutive days. Section 16-3 bars purchases from minors.
(a) Any business meeting the definition of precious metals dealers shall keep a record of all purchases of gold, silver, platinum, copper, or aluminum. The police department shall furnish one set of standard forms to a dealer for such purposes, which shall at a minimum require the following information: date; time; amount paid by the dealer for the item; ... (b) All precious metals dealers shall furnish to the police department each day by 11:00 a.m., a copy of the completed record form for all transactions which took place during the preceding day. ... (c) Each and every article or set of articles received by a precious metals dealer shall be kept with the aforementioned record form attached, ... for a period of six (6) consecutive days after their receipt, during which time they shall not be resold, exchanged or otherwise disposed of. Coins having no numismatic value, Krugerrands and manufactured ingots, shall be so retained for five (5) consecutive days.
Official source re-checked November 3, 2026: no newer edition of the code had been published (publisher’s edition: Local legislation current through Ord. No. 175-2024, dated 1-13-25 | State legislation current through 2024 Acts).
Full Breakdown
Chapter 16 of the Nicholasville Code of Ordinances is the city's secondhand-purchase rule, and it is limited to metals. Section 16-1 defines a precious metals dealer as any business, excluding banking institutions licensed to do business in the state, making any secondhand purchase of gold, silver, platinum, copper, or aluminum, whether in the form of bulk metal, coins, watches, jewelry or any other form. A purchase by a retailer or wholesaler from a bona fide manufacturer is not a secondhand purchase.
Section 16-2(a) requires a record of all purchases. The police department furnishes one set of standard forms to a dealer, and the form requires at a minimum the date, time, amount paid, manufacturer name and pattern if ascertainable, serial number, distinguishing marks or engraving, weight, number of items and settings. For each seller the dealer records name, address, date of birth, age, hair color, race, sex, height, weight, build, general appearance, distinguishing marks, a legible right thumb print, a driver's license number or numbers from one means of identification, and a photograph.
Under § 16-2(b), a copy of the completed record form for the preceding day's transactions goes to the police department each day by 11:00 a.m., and any member of the police department can inspect the records and, if needed, the articles still in the dealer's possession. Section 16-2(c) requires each article to stay at the place of business with its record form attached for six consecutive days after receipt, during which it cannot be resold, exchanged or otherwise disposed of. Coins having no numismatic value, Krugerrands and manufactured ingots are held for five consecutive days. Under § 16-2(d), a person selling aluminum cans is not required to complete the form, and the dealer does not have to hold the cans.
Chapter 16 prints no license application, license fee or license term, and it is the only chapter in the Code export that uses the word secondhand.
Violations & Fines
Section 16-3 provides that in no case shall a precious metals dealer make a secondhand purchase of gold, silver, platinum, copper, or aluminum from a minor, or buy goods the dealer knows or has reason to believe are stolen. Chapter 16 prints no penalty of its own, so § 1-10(a) applies: a fine not exceeding $250 and not less than $10 where no specific penalty is provided.
Frequently Asked Questions
Does Nicholasville require a secondhand dealer license?
What must a metals dealer record about a seller?
How long must a dealer hold purchased items?
When is the report due to the police?
Sources & Official References
Other rules in Nicholasville
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