Forsyth City Council Votes for Tighter Restrictions On Gold Buyers

FORSYTH, Georgia (41NBC/WMGT) – Forsyth City Council voted on a new set of guidelines that will place tighter regulation on the buying and selling of precious metals and gems.

Under the new ordinance, a $425 regulatory fee has to be paid by dealers every year. Items purchased will have to be held onto for at least 14 days before they’re sold or melted down. The dealer will be required to document transactions in detail including information about the seller and the items. The Forsyth Police Department will have full access to the records.