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Is it possible to get a in-home precious metals license?

I'm an Ebay seller turning my hobby into a small in-home business from my house. I used to sell strictly collectibe/rare things, but lately, I have taken an interest in the idea of buying and re-selling gold and silver coins from the various bulk lots on Ebay. Some are from private individuals, some are from auction places selling off an estate's coin lot in bulk, some are actual dealers who sell on Ebay. I have basic knowledge about gold and silver. I'm not some former coin dealer or pawn broker or anything. I have a simple setup of a mailing scale, thermal printer, etc. I would like to deal in internet sales only, through Ebay only. As with anyone who sells anything on Ebay, I sometimes have someone from my own state purchase something. With that being said, I know the basics about the licenses. I have a state tax id number already (which in my state, is apparently a re-seller's license, as well). I know that I need a business license and plan to get one. My main concern is...what are my chances of getting a "precious metals and gems" license from my local city clerk office? I live in the city of Decatur in the state of Georgia. Per our laws, it states that "In the state of Georgia, one must have a Precious Metals and Gemstone Dealers Permit, they must have a physical location that the Permit is attached to and they must buy in that location and hold all buys from 7 to 30 days and must report their buys within 24 hours to their local sheriff or police department." I understand the concept of this law somewhat. However, for Ebay/Internet (which I see hundreds of thousand of dealers using), does this law apply? Can I get this for a residential house in which I would be doing the buying and selling through the Internet only? Obviously, with that case...it's impossible to "fingerprint" anyone, take a photo, make sure they are the right age (though Paypal/Ebay's job is to do that at signup) and such. So will I be able to do this online only? Is everyone else who is doing this "flipping" of gold/silver online just breaking the law? I saw that the dealer permit is $300. I understand that the law is designed to stop thieves from stealing these items and then selling them to others to melt down immediately. But how would that happen online, especially if I sold to another state? I could say that I would only deal with other states, but then isn't that nullifying my Georgia Tax ID and evading Georgia taxes if I do that? Case in point: This is the salvation army selling 419 grams of silver scrap online. Are they a dealer, pawn shop, etc.? No. Do they take a photo/signature of every person that they sell this stuff to? Probably not. So are they breaking the law, as well? http://www.ebay.com/itm/419-5-Grams-of-Sterling-925-Silver-Scrap-Wearable-All-Tested-or-Marked-/330835292571?pt=LH_DefaultDomain_0&hash=item4d0751f19b Yet that is my local Atlanta, Georgia location selling that and it's online.

Asked By: sls.spec - 12/1/2012
Best Answer - Chosen by Asker
my brother would argue--I claim selling commodities is not a business. HE did earn a few... More
Answered By: kemperk - 12/1/2012
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