For the purpose of this chapter the following definitions shall apply unless the context clearly indicates or requires a different meaning.
"DEALER." Any person who advertises through any media, by mail or direct solicitation as being engaged in the buying or purchase of precious metals, precious or semiprecious stones or gems and buys or purchases (which shall include accepting or exchanging in trade) for his business inventory or for resale either in the form purchased or in another form after being melted down, cut, or altered with the intent to obtain a monetary profit for himself or for a principal.
"PRECIOUS METAL." Any metal which during the preceding 30 days has traded on any commodities exchange within the United States at more than $5 per ounce, the "PRECEDING 30 DAYS" meaning that time period from one day to the next and not from the enactment date of this chapter.
"PRECIOUS OR SEMIPRECIOUS STONE OR GEM." Any stone or gem that is rare or costly or any stone or gem that is of lower value than those classified as precious.
('64 Code, § 18-A-1) (Ord., passed 11-4-80; Am. Ord., passed 8-23-88)