Precious metals dealers may deal in numismatic or bullion items; and precious gems are traditionally defined as diamonds, rubies, sapphires, and emeralds. As the US dollar continues its historical devaluations, precious metals dealers – particularly gold and silver dealers -- are increasingly popular as a source to hedge against loss of purchasing power.
Such dealers operating in Oklahoma are regulated by the Oklahoma Department of Consumer Credit.
A prerequisite for licensing is that you obtain a $10,000 surety bond at the time you submit your application to the Department. Obtaining the surety bond will be the quickest part of your licensing process.
The $10,000 Oklahoma precious metals and gems dealer bond has a short, standard short bond application which can be taken from you over the phone.
You are already approved for this bond. There is neither a credit check nor a review by an underwriter. What this means for you is that after completion of the application, and payment of the $100 premium, this bond is issued to you immediately.
At your request, a copy of the bond can be emailed to you for no additional charge. The original surety bond, which you will sign as principal, will be mailed to you by the following business day. You will need to sign your bond as Principal before filing.
Your surety bond is active for a period of one year from the day of issuance, and thereafter you must renew your bond by paying a new premium.
The bond serves as a financial guarantee for consumers that a licensed Oklahoma precious metals or gems dealer will faithfully observe all laws, regulations, and any amendments to any existing laws regarding this profession.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Oklahoma. Our agency also provides surety bonds nationwide.
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