(A) The original record of each secondhand transaction in any item containing any precious metal shall be subject to inspection and examination by any member of the Police Department and any member of the Police Department shall be permitted to examine and inspect any and all items purchased by a precious metal dealer which fall within the scope of this article.
(B) There is specifically excepted from the terms of this article any transaction by a person engaged in business within the city who is either accepting returns for cash, credit or replacement of any item originally purchased from that person, or exchanging an item for another item of greater value. In addition, the terms of this article shall not include any purchase by a retailer from a bona fide manufacturer, nor any banking institution licensed to do business in the state.