Much like the swell of copper wire theft that hit our state a few years ago due to the rising prices of scrap metal, the rise in gold and silver prices has created a growing number of home robberies.

Rep. Katrina Asay, R-Milton, introduced House Bill 1716 to put in place backstops that would slow the pace of the time between when items made from precious metals are sold, and when they are melted down or resold.

“Besides the budget, what I heard about most in my district last year was the huge increase in home burglaries,” Asay said. “In the last year alone, home robberies in the area increased by 15 percent. That’s when Federal Way police and local officials, concerned with the growing problem and the serious public safety risk posed by the crimes, asked me to put together a workable solution that protects both the public and businesses dealing with second-hand precious metals.

“Working with stakeholders and fellow legislators, I put forward a compromise bill that addresses illegitimate sellers and purchasers of precious metals while allowing a flourishing and legal precious metals market.”

House Bill 1716 would establish and implement stricter standards on transactions involving gold and other precious metal property. The bill would require pawnbrokers buying precious metals to:

• Keep a written record of the transaction, including the name, signature, photo, contact information and description of the seller.

• Include the name of the employee and date of the completed transaction.

• Catalog the items accepted in the transaction, including detailed descriptions of the items such as the color and size of gemstones and other identifying elements, as well as the price paid for the items.

• Hold the metal items in the location for 30 days.

“The goal of the bill is to make sure victims of home burglaries have time to file a police report and attempt to locate their items intact, many of which may be sentimental heirlooms that are irreplaceable,” Asay said. “It was surprising to learn the extent of what was being stolen. Besides jewelry, many things being taken by thieves are those that would normally be overlooked or ignored, such as silver tea sets and silverware.”

Asay added that the bill has nothing to do with consumers who buy gold from any store, and it exempts currency (i.e. stamps, bullion, coins, etc.). Purchasers of these items would not have to give information, nor would seller of gold and silver coins.

House Bill 1716 passed by a vote of 85-12 and will now be forwarded to the Senate for further consideration.