Sioux City, IA Business Licensing & Operations: Secondhand Dealers (2026)

Iowa's regulatory framework for pawnbrokers and secondhand dealers is codified primarily at Iowa Code Chapter 555C ('Reporting of Personal Property Transactions'). Chapter 555C applies to pawnbrokers, secondhand dealers, precious-metals dealers, coin shops, jewelers buying scrap, and consignment shops that take in 'reportable property' (generally serialized goods, jewelry, precious metals, electronics). Key requirements: (1) Transaction Records: Iowa Code §555C.3 requires the dealer to obtain a government-issued photo ID from the seller, record a detailed description (including serial numbers), and capture a thumbprint or photograph. (2) Daily Electronic Reporting: §555C.4 requires the dealer to transmit transaction data daily, in electronic form, to the local law enforcement agency - in Sioux City, the Sioux City Police Department, which uses the LeadsOnline web service. (3) Hold Period: §555C.5 requires the dealer to hold each item at the registered premises for at least 10 business days before resale or melting. (4) Recordkeeping: dealers must retain records for at least 4 years. (5) Stolen Property: §555C.6 establishes procedures for police holds and seizure of suspected stolen property. Sioux City also requires every pawn broker and precious-metals dealer to post a Pawn Broker and Precious Metals License Bond with the City Clerk as a financial guarantee of compliance with local and state regulation, and to hold a Sioux City business operating license under the city's general licensing chapter. Zoning compliance under Title 25 is also required - pawnshops are commonly conditional uses in C-1/C-2 commercial districts and are restricted near schools and residential zones.