“I’m reaching out as a local business owner in the jewelry and coin industry, and I would prefer to remain anonymous. I’m not looking to promote my business. I’m concerned about a growing number of out-of-town gold, jewelry, and coin buyers coming into Reno and potentially taking advantage of local residents.
The old “hotel gold buyer” model seems to have evolved. These companies now rent neighborhood clubhouses, community spaces, and recognizable local venues such as Bartley Ranch, which can give consumers the impression they are established or affiliated with the local community.
Local dealers are required to maintain business licenses and comply with regulations surrounding the purchase and holding of secondhand property. We have reached out to both city and county officials regarding these traveling buyers, trying to determine what permits and licenses they are operating under and whether they are subject to the same regulations. So far, no one we’ve contacted seems to know exactly how these operations are permitted, who is responsible for overseeing them, or appears willing to enforce the same requirements local dealers are expected to follow…