Regulate cash-for-gold sales
Published:Friday | July 16, 2010 | 12:00 AM
THE EDITOR, Sir:
I HAVE watched in amazement the recent birth of the cash-for-gold industry here in Jamaica and am simply amazed that the Government is apparently sitting back and watching it mushroom with little or no apparent regulation.
Where do the powers that be feel that the majority of this gold being 'pawned' has come from? Is it really persons turning in their old gold or is the vast majority of it stolen chains, etc, that criminals now have a 'legal' and immediate market to dispose of their ill-acquired assets?
One would be interested to know the true statistics of theft of such items since the cash-for-gold trade has been introduced to Jamaica.
What is the real purpose of someone reporting their stolen jewellery to the police, giving detailed descriptions, when persons are allowed to exchange these items for cash, and the buyers can legally smelt the gold and export same? At some point, the issue of buying stolen goods must come to the fore.
While not being certain as to exactly how this industry can be regulated, I am sure that keeping it unregulated in its present form will only result in increased crime against our citizens. Instead of targeting the scrap-metal industry alone, might I also suggest the cash-for-gold industry as well?
I am, etc.,
R. STEWART