Gold bought at second hand shops may soon have to sit on the shelf a little longer.
Vendors of second hand gold and silver in the Village of Waverly will soon have to wait at least thirty days before reselling the precious metals to customers.
That’s because Village Council members were provided Tuesday with the second reading of an ordinance designed to give local law enforcement more time to make sure that gold doesn’t already belong to some one else.
Area gold dealers have not been specifically regulated in the past but due to an increase of gold and silver thefts in the area, law enforcement officials say the legislation is an important step in curbing the sale of stolen gold.
Second hand dealers currently hold items made of precious metals for only five days.
Council members will hear the third and final reading of the ordinance during their next session on Tuesday, September 18th.
In other business, as part of the Ohio Attorney General's $75 million dollar settlement with mortgage lenders, Pike County is set to receive a grant of $107,000 dollars that will be used for the demolition of delapitated and condemend residental structures throughout the county.
For more information, contact the Pike Metropolitan Housing Authority at 740-289-4534.
