Oklahoma Precious Metal and Gem Dealer Bond
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How much does a $10,000 precious gem and metal dealer bond cost in Oklahoma?
Oklahoma precious gem and metal dealer bonds are issued instantly and cost $100. Simply click Buy Now to purchase your bond online directly from our site. It only takes a few minutes to be on your way to getting bonded as a precious gem and metal dealer in Oklahoma.
Why do I need this bond?
The Oklahoma Department of Consumer Credit requires precious metal and gem dealers to post a surety bond in the amount of $10,000.
Oklahoma precious metal and gem dealer license bonds ensure that dealers of used precious metals and gems follow all rules, laws and regulations stated in the Oklahoma Precious Metal and Gem Dealer Licensing Act (Title 59 - Chapter 37A). This bond specifically covers dealers of gems, which refers to any precious or semiprecious stone or item containing a precious or semiprecious stone customarily used in jewelry or ornamentation, and precious metals, which refers to platinum, gold, or silver not in the form of coins.
What’s the fine print?
Oklahoma precious metal and gem dealer bonds are continuous until canceled. If the surety chooses to cancel this bond for any reason, 30 days’ notice must be provided to the Administrator of the Oklahoma Department of Consumer Credit prior to cancellation.
How to become a precious metal and gem dealer in Oklahoma
Oklahoma precious metal and gem dealer’s licenses allow businesses with a permanent location in Oklahoma to take, receive, or transfer used precious metals or gems in the course of business. The licensee can conduct business only at the location listed on the license.
Payment of the following fees is also required prior to receiving a license:
- Investigation fee ($425)
- Inspection fee ($400)
- License fee ($300)
Licenses are valid for 12 months beginning on January 1 and they are to be renewed annually by submitting renewal documentation before December 1.
When submitting the application, the applicant must have a proof of a $10,000 surety bond as well as a full set of fingerprints and photographs for each owner or office of the company.