New Jersey Precious Metals Dealer Bond
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How much will my New Jersey valuable metals dealer bond cost?
Precious metal dealer bonds are required by the State of New Jersey in the amount of $25,000 or $50,000. $25,000 NJ metal dealer bonds can be purchased online for as little as $150 while $50,000 bonds cost as little as $400. These bonds are subject to underwriting consideration, meaning the price you may will vary depending on a review of the applicant's credit and financials.
Why do I need this bond?
Precious metal dealer bonds are required by the State of New Jersey. These bonds protect any person injured by a fraudulent act committed by a precious metal dealer. The principal (dealer of precious metals) must comply with all provisions stated in the New Jersey Statutes Annotated. If a principal violates any of the terms of the bond and a consumer is harmed, the surety will initially cover any damages up to the full bond amount.
Get a free, no obligation quote on your New Jersey valuable metals dealer bond. Contact a bond expert today!
What’s the fine print?
The State of New Jersey requires all dealers of precious metals to be bonded. Dealers must purchase a surety bond in the amount of $5,000 or $10,000. Each bond will have a one-year term, which must coincide with the license term. This bond will not be canceled unless the surety files a ‘notice of intention’ with the state 30 days prior to the requested cancellation date.
There is not a specific bond form for New Jersey precious metals dealer bonds, so all bonds should be filed on a generic license and permit bond form.
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