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Your Confidentiality & Security

December 27, 2008 by Administrator 

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With increased business being conducted by buyers and loan providers of gold, jewelry, diamonds, and watches, consumer concerns have been raised regarding personal confidentiality, as well as public security. In response to these concerns, and to clear up any potential confusion, we at the San Diego Luxury Pawn Shop Report thought it would be good if we laid down the kinds of security and confidentiality polices that your jewelry buyer or pawn shop should have in place.

PERSONEL CONFIDENTIALITY

Your jewelry buyer should not share the names or personal information of sellers or loan receivers with any third parties, except those required by law. If the buyer buys gold, diamonds, watches, or some other valuable item in excess of $10,000, the IRS will be notified via the required filing of the IRS 8300 form.

PUBLIC SECURITY

Your jewelry buyer or pawn shop should dutifully follow the federal guidelines regarding anti-money-laundering, and has in place written policies and procedures to detect and report suspicious transactions to the government. They should strictly follow California State laws, and submit a list of all merchandise received every day to the local police. This is done so that the police can compare the items against records of stolen merchandise, which protects both the business, as well those people who may have had objects stolen.

All legitimate San Diego gold buyers and jewelry loan providers who qualify under the law should be following these procedures. And you are encouraged to ask buyers about the policies that they have in place before doing business with them. By working together, we can work toward ensuring a secure environment surrounding the buying and selling of diamonds, gold, and other precious items.

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Now that you feel more secure about selling your fine jewelry to a San Diego jewelry buyer, don’t just go running out to sell your items to the first buyer. Read our informative sellers articles first, like: Selling Your Diamond Engagement Ring.

San Diego Pawn Shops, Gold Buyers, Gold Refineries, & More

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