                                 CODE OF VIRGINIA

DEFINITIONS (§ 54.1-4100)

For the purposes of this chapter, unless the context requires a different
meaning:
		&#8220;Coin&#8221; means any piece of gold, silver or other metal fashioned
into a prescribed shape, weight and degree of fineness, stamped by authority of
a government with certain marks and devices, and having a certain fixed value as
money.
		&#8220;Dealer&#8221; means any person, firm, partnership, or corporation
engaged in the business of (i) purchasing secondhand precious metals or gems;
(ii) removing in any manner precious metals or gems from manufactured articles
not then owned by the person, firm, partnership, or corporation; or (iii)
buying, acquiring, or selling precious metals or gems removed from manufactured
articles. &#8220;Dealer&#8221; includes all employers and principals on whose
behalf a purchase is made, and any employee or agent who makes any purchase for
or on behalf of his employer or principal.
		The definition of &#8220;dealer&#8221; shall not include persons engaged in
the following:

1. Purchases of precious metals or gems directly from other dealers,
manufacturers, or wholesalers for retail or wholesale inventories, provided that
the selling dealer has complied with the provisions of this chapter.

2. Purchases of precious metals or gems from a qualified fiduciary who is
disposing of the assets of an estate being administered by the fiduciary.

3. Acceptance by a retail merchant of trade-in merchandise previously sold by
the retail merchant to the person presenting that merchandise for trade-in.

4. Repairing, restoring or designing jewelry by a retail merchant, if such
activities are within his normal course of business.

5. Purchases of precious metals or gems by industrial refiners and
manufacturers, insofar as such purchases are made directly from retail
merchants, wholesalers, dealers, or by mail originating outside the
Commonwealth.

6. Persons regularly engaged in the business of purchasing and processing
nonprecious scrap metals which incidentally may contain traces of precious
metals recoverable as a by-product.
			&#8220;Gems&#8221; means any item containing precious or semiprecious stones
customarily used in jewelry.
			&#8220;Precious metals&#8221; means any item except coins composed in whole
or in part of gold, silver, platinum, or platinum alloys.

HISTORY: 1981, c. 581, § 54-859.15; 1988, c. 765.