You probably know about the gun control bill that was voted into law this month. Gun manufacturers are threatening to move out of the state. The story is here.
The state is now about to shut down all coin stores. A bill to require complete record-keeping on all sales, including photos of every coin sold, and recording the ID of every buyer and seller, is about to be passed into law. The cost of complying will shut down the stores. Read about it here.
AN ACT CONCERNING PRECIOUS METALS OR STONES DEALERS.
To require precious metals or stones dealers to provide a periodic statement of transactions in an electronic format to the local licensing authority and retain any goods purchased for at least ten days, and to make the requirements applicable to precious metals or stones dealers similar to those applicable to secondhand dealers.
Introduced by: Public Safety and Security Committee
You may recall that the terror of the French Revolution was run by the Committee on Public Safety.
How bad is this proposed bill? Here are the details, from the state’s website.
Property Description. Under the bill, the record’s property description must include:
1. all distinguishing marks, engravings, and etchings;
2. names of any kind, including brand and model;
3. model and serial numbers;
4. affiliation with any institution or organization;
8. vintage; and
9. image represented.
Digital Photographs. The bill requires a digital photograph of property that does not have any identifiable numbers or markings. A number corresponding to the number assigned to the property’s entry in the record-keeping system must be visible in the photograph and remain attached to the property until its disposition or sale.
Bullion and Coins
For bullion and coin sales, in addition to the requirements under current law, the bill requires dealers to keep the record in English, be consecutively numbered, and include the seller’s general description.