§ 17-23-102 - Exemptions.
17-23-102. Exemptions.
The provisions of this chapter shall not apply to the following:
(1) Transactions involving the sale or transfer of precious metals from one (1) retail jeweler or licensed dealer under this chapter to another retail jeweler or licensed dealer under this chapter;
(2) Transactions involving the sale or transfer of precious metals by a wholesale jeweler to a retail jeweler or licensed dealer;
(3) Transactions involving the acquisition of precious metals as a trade-in on any item where the amount allowed as trade-in for the precious metal is less than fifty percent (50%) of the purchase price of the item purchased;
(4) Transactions involving coins regardless of whether or not such coins contain precious metals;
(5) Any financial institution, which is covered by federal or state deposit insurance, or any person doing business under the laws of this state;
(6) Any person doing business under the laws of this state or the United States relating to any broker-dealer, or commodity futures commission merchant, or commodity trading advisor or agent duly registered and regulated by the State Securities Department or the United States Commodity Futures Trading Commission; or
(7) Pawn brokers.