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ORDINANCE 94- 677 <br /> • <br /> Page 2 <br /> including a foreign, domestic, or nonprofit corporation; a <br /> trust; a political subdivision of the state; or any other <br /> business organization. <br /> 6. "Precious Metal Dealer" means any person engaging in the <br /> business of buying coins or secondhand items containing <br /> precious metal, including, but not limited to, jewelry, <br /> watches, eating utensils, candlesticks, and religious and <br /> decorative objects. <br /> 7 . "Precious Metals" means silver, gold, or platinum. <br /> 8 . "Secondhand item" means tangible personal property, <br /> excluding motor vehicles, which has been previously used, <br /> rented, owned or leased. <br /> 812 . 10 License Required. No person shall engage in the <br /> trade or business of pawnbroker or precious metal dealer within the <br /> City unless such person is currently licensed under this ordinance. <br /> 812 . 15 Exceptions to License Requirement. <br /> • 1. Precious Metal Dealers conducting the following <br /> transactions are not required to obtain a license under this <br /> Section. <br /> a. Transactions at occasional "garage" or "yard" sales, <br /> or estate sales or farm auctions held at the decedent's <br /> residence, except that precious metal dealers must comply <br /> with the requirements of Minnesota Statutes, Sections <br /> 325F.734 to 325F.742 , for these transactions. <br /> b. Transactions regulated by Minnesota Statutes, <br /> Section 80A. <br /> c. Transactions regulated by the Federal Commodity <br /> Futures Commission Act. <br /> d. Transactions involving the purchase of precious <br /> metal grindings, filings, slag, sweeps, scraps, or dust <br /> from an industrial manufacturer, dental lab, dentist, or <br /> agent thereof. <br /> e. Transactions involving the purchase of photographic <br /> film, such a lithographic and x-ray film or silver <br /> residue or flake recovered in lithographic and x-ray film <br /> • processing. <br /> f. Transactions involving coins, bullion, or ingots. <br />