City of Minneapolis, Minnesota - Precious Metals Dealer
Precious Metals Dealer
Overview
What it is.
Precious Metals Dealer
Who usually needs it
Businesses or individuals licensed as precious metal dealers by the City of Minneapolis who are engaged in buying, selling, or dealing in secondhand precious metals (such as gold, silver, or platinum) within the city. The bond is required as part of the licensing process and ensures compliance with local regulations on secondhand goods handling.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateMNBond amount$5,000ObligeeCity of Minneapolis, MinnesotaBond classLicense BondCategoryOtherBondCity of Minneapolis, Minnesota - Precious Metals DealerPlain descriptionPrecious Metals DealerWho needs this bondBusinesses or individuals licensed as precious metal dealers by the City of Minneapolis who are engaged in buying, selling, or dealing in secondhand precious metals (such as gold, silver, or platinum) within the city. T…
