Precious Metal & Gem Dealer

Oklahoma Precious Metal and Gem Dealer Licensing Act: Title 59 O.S. §§ 1521-1532
Oklahoma Administrative Code: Title 160, Chapters 1,3,5 and 60

This license allows a business which has a location in Oklahoma to take, receive, or transfer USED precious metals or gems in the course of business. Precious metals are platinum, gold, or silver, but not in the form of coins. Gems are precious stones or items containing precious stones. The licensee can conduct business only at the location listed on the license.

The approval process requires up to 60 days to complete.

The fees for this license include: a $425.00 investigation fee, a $400.00 inspection fee, and a $300.00 license fee for a total of $1125.00.

This license is valid for one year, beginning on January 1st.

The business must have a $10,000.00 bond at the time of application, and a full set of fingerprints and photograph of each owner or officer of the company.