Connect with us

Headlines

Jeweler, Coin Dealer Charged With Precious-Metal Violations

They allegedly failed to meet reporting requirements.

mm

Published

on

YORK, PA – A jeweler and a coin dealer have been accused in Pennsylvania with violating reporting requirements for precious-metal sales.

The York County district attorney filed charges against James Zimmerman of Zimmerman Jewelers and Dennis Steinmetz of Steinmetz Coins and Currency.

A Pennsylvania statute mandates, “A copy of every record of transaction shall be delivered or mailed to the district attorney of the county in which a purchase of precious metals is made by the close of the next working day after the day on which the metal is purchased.”

Both owners were contacted on Jan. 15 advising them that they were to return to compliance, according to a press release from the district attorney’s office. From Feb. 1 to present, Zimmerman Jewelers has had a 37% compliance rate, and Steinmetz Coins and Currency had a compliance rate of 17%, according to the release.

Advertisement

The York County District Attorney’s Office stated that it “has invested significant time and money in an effort to make submissions easier on precious metals dealers by creating a web-based reporting system.” Over the past two years, the program has grown to include Lebanon County and is in the process of expanding to Cumberland County. There are currently over 50 precious metal dealers using the website, who maintain an average 94% compliance rate.

District Attorney Dave Sunday said, “It is the legal obligation of every precious metal dealer in the Commonwealth of Pennsylvania to provide this information to their jurisdiction’s District Attorney. Data from this website has proven to be an invaluable tool, aiding municipal law enforcement officers in solving drug and property crimes, and helping to reunite stolen items with their rightful owners.”

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials | Zadok Master Jewelers

Stick to the Program — And Watch Your Sales Grow

When Zadok Master Jewelers in Houston, Texas, decided to move to a new location (they’d been in the same one for the 45 years they’d been in business), they called Wilkerson to run a moving sale. The results, says seventh-generation jeweler Jonathan Zadok, were “off the charts” in terms of traffic and sales. Why? They took Wilkerson’s advice and stuck to the company’s marketing program, which included sign twirlers — something Jonathan Zadok had never used before. He says a number of very wealthy customers came in because of them. “They said, ‘I loved your sign twirlers and here’s my credit card for $20,000.’ There’s no way we could have done that on our own,” says Zadok. “Without Wilkerson, the sale never, ever would have come close to what it did.”

Promoted Headlines

Most Popular