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Precious metal and gem dealer bond cost

The Commonwealth of Virginia requires precious metal and gem dealers to post $10,000 surety bonds to legally work within the state.We can issues these bonds instantly for just $100! No credit check is required, so all applicants pay this low rate.

Contact one of our surety specialists to receive a free, personalized bond quote within 1 business day of applying. Call 888.610.4474, or click here, to begin the bonding process.

Why this bond

Virginia precious metal and gem dealer bonds ensure that principals (precious metal and/or gem dealers) comply with all provisions of Chapter 23.2 of the Code of Virginia. Requirements under this code include:

  • having his or her scales inspected by the Virginia Department of Agriculture and Consumer Services
  • holding all purchases within the jurisdiction of sale for 15 days following the sale for police inspection
  • conducting business only from the permanent location listed on the business license and permit applications
  • and more

Prohibited acts under this bond include:

  • selling, trading or disposing of items already included in a dealer purchase
  • changing, cutting or melting items already involved in a dealer purchase
  • removing items from the licensed premises or other locations specified on the application
  • purchasing items from any juvenile under 18 years of age
  • and more

If the principal violates the terms of his or her bond agreement and a consumer is financially harmed as a result, the surety will pay for all damages up to the full bond amount. The dealer, in turn, must reimburse the surety for damages paid out.

Title 54.1, Chapter 41 of the Code of Virginia defines “gems” as any item containing precious or semiprecious stones customarily used in jewelry. “Precious metals” refer to any items other than coins that are composed in whole or in part of gold, silver, platinum or platinum alloys.

Precious metal and gem dealer bonds in Virginia remain in full force and effect until violated by the principal or canceled by the surety. To cancel the bond, the surety or the principal must provide written notice to the other party and to the Virginia Beach Commonwealth’s Attorney 30 days prior to the effective date of termination.

Become a precious metal and gem dealer

According to Section 4106 of Chapter 54.1 of the Code of Virginia, “If any county, city, or town has an ordinance which regulates the purchase and sale of precious metals and gems pursuant to Section 54.1-4111, such bond or letter of credit shall be executed in favor of the local governing body.”

This means that the bond forms for Virginia precious metal and gem dealer’s surety bonds are available through the dealer’s specific location, and licensing requirements vary from county to county.Begin the licensing process by purchasing the surety bond you need for just $100!


Apply for your surety bond

Get a FREE Virginia Precious Metal and Gem Dealer’s Bond Quote Today! Click here to begin