§ 30-53. Definitions.

The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:

Agent or employee means a person who, for compensation or valuable consideration, is employed either directly or indirectly by a dealer.

Dealer means a person that in whole or in part, engages in the ordinary course of repeated and recurrent transactions of buying or receiving precious items from the public in the city.

Gold means elemental gold having an atomic weight of 196.967 and the chemical element symbol of Au, whether found by itself or in combination with its alloys or any other metal or substance.

Jewelry means an ornamental item made of a material that includes a precious gem.

Platinum means elemental platinum having an atomic weight of 195.09 and the chemical element symbol of Pt, whether found by itself or in combination with its alloys or any other metal.

Precious gem means a diamond, alexandrite, ruby, sapphire, opal, amethyst, emerald, aquamarine, morganite, garnet, jadeite, topaz, tourmaline, turquoise, or pearl.

Precious item means jewelry, a precious gem, or an item containing gold, silver, or platinum. The term "precious item" does not include the following:

(1)

Coins, commemorative medals, and tokens struck by, or on behalf of, a government or private mint;

(2)

Bullion bars and discs of the type traded by banks and commodity exchanges;

(3)

Items at the time they are purchased directly from a dealer registered under this chapter, a manufacturer, or a wholesaler who purchased them directly from a manufacturer;

(4)

Industrial machinery or equipment;

(5)

An item being returned to or exchanged by the dealer from whom the item was purchased and which is accompanied by a valid sales receipt;

(6)

An item which is received for alteration, redesign, or repair in a manner that does not substantially change its use and returned directly to the customer;

(7)

An item which does not have a jeweler's identifying mark or a serial mark and which the dealer purchases for less than $5.00;

(8)

Scrap metal which contains incidental traces of gold, silver, or platinum which are recoverable as a byproduct;

(9)

Jewelry which a customer trades for other jewelry having a greater value, and which difference in value is paid by the customer.

Silver means elemental silver having an atomic weight of 107.869 and the chemical element symbol of Ag, whether found by itself or in combination with its alloys or any other metal.

(Prior Code, § 7.70; Ord. No. 93-09, 5-17-1993)

State law reference

Similar definitions, MCL 445.482.