The federal Act on the Control of the Trade in Precious Metals and Precious Metal Articles (Precious Metals Control Act, PMCA) regulates the trade of raw materials, melting materials and melting products, as well as goods such as watches and jewelry from precious metals. Precious metals include gold, silver, platinum and palladium.
The commercial purchase of old precious metals (melt material), the manufacturing of melting products and the testing of the standard of fineness in melted products are activities which require a license. The commercial trade of banking precious metals by trade assayers is also an activity requiring a license under the Money Laundering Act.
