For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
AGENT or EMPLOYEE. A person who, for compensation or valuable consideration, is employed either directly or indirectly by a dealer.
CHIEF OF POLICE. The Chief of Police of the Village of Franklin.
DEALER. Any person that in whole or in part engages in the ordinary course of repeated and recurrent transactions of buying or receiving precious items from the public in the village.
GOLD. Elemental gold having an atomic weight of 196.967 and the chemical element symbol of Au, whether found by itself or in combination with its alloys or any other metal or substance.
JEWELRY. An ornamental item made of a material that includes a precious gem.
PLATINUM. Elemental platinum having an atomic weight of 195.09 and the chemical element symbol of Pt, whether found by itself or in combination with its alloys or any other metal.
PRECIOUS GEM. Diamond, alexandrite, ruby, sapphire, opal, amethyst, emerald, aquamarine, morganite, garnet, jadeite, topaz, tourmaline, turquoise or pearl.
PRECIOUS ITEM. Jewelry, a precious gem or an item containing gold, silver or platinum. PRECIOUS ITEM does not include the following:
(1) Coins, commemorative medals and tokens struck by or in behalf of a government or private mint;
(2) Bullion bars and discs of the type traded by banks and commodity exchanges;
(3) Items at the time they are purchased directly from a dealer registered under this chapter, a manufacturer or a wholesaler who purchased them directly from a manufacturer;
(4) Industrial machinery or equipment;
(5) An item being returned to or exchanged by the dealer from whom the item was purchased and which is accompanied by a valid sales receipt;
(6) An item which is received for alteration, redesign or repair in a manner that does not substantially change its use and returned directly to the customer;
(7) An item which does not have a jeweler’s identifying mark or a serial mark and which the dealer purchases for less than $5;
(8) Scrap metal which contains incidental traces of gold, silver or platinum which are recoverable as a by-product;
(9) Jewelry which a customer trades for other jewelry having a greater value and which difference in value is paid by the customer.
SILVER. Elemental silver having an atomic weight of 107.869 and the chemical element symbol of Ag, whether found by itself or in combination with its alloys or any other metal.
(O.C. § 7.21)