GOLD BUYING

Hokitika Guardian, 13 July 1932, Page 4

GOLD BUYING

MINES DEPARTMENT ATTITUDE, OUTPUT WATCHED CLOSELY. (l'er Press Association — Copyright.) 7 WELLINGTON, July 10. Tlie business being dene throughout New Zealand in . the disposal of old gold, while the price of the" precious metal remains high, is causing concern in the Mines Department and gold producers, as it has been discovered that alluvial gold is finding its way .into the hands of unlicensed dealers. It is illegal lor anyone but a lice seu . am.! dealer, such as a bank or an authorised •« ,S f d‘ person to buy alluvial go-d, but it is r . feared that some hundreds of pounds worth of this metal has been disposed of to unlicensed dealers recently. ' The Dominion’s gold output is watched closely, and a record is kept of all alluvial gclcl purchased by licensed dealers. It is regarded as serious that leakages should occur for alluvial gold sold to unlicensed dealers would, it is feared, most likely have been come by, dishonestly. It is possible that a move may be made to tighten the law concerning the traffic in geld. At present, a dealer may buy old gold or wrought gold, but he must bo specially licensed to purchase alluvial gold.