Bullion Coin Dealers must register first and must have been approved before submitting a Bullion Coin Dealer Representative application.
Follow these steps in order to apply for a Bullion Coin Dealer registration:
Go to PulsePortal.com, select "Minnesota Department of Commerce" as the “Program” and "Bullion Coin Dealers" as the “Board”. Then click on "Submit License Application.” Click “Organization” as the “Entity Type” and “Bullion Coin Dealer” as the “License Type.”
Enter the name of the company, the state, and the company’s Federal Employer Identification Number (FEIN).
Continue filling out the required information within the electronic application.
Fees are paid at the end of the application. The initial registration fee is $30.00. In accordance with Minn. Stat. §16E.22, this fee includes a $5.00 OET surcharge, which is being collected on behalf of the Minnesota Office of Enterprise Technology to fund a statewide electronic licensing system. In addition to the registration fee, the online system vendor also charges a $9.95 transaction fee and a $1.00 credit card fee.
At the end of the application, you will receive a “Confirmation Number” that can be used to check the status of the application within Pulse Portal by using the “Application Status Inquiry” feature. If a discrepancy is found or the application is approved, that will be indicated by the “Application Status Inquiry” feature.
After the registration is issued, you can print a copy of it.
A "State ID and PIN number will be printed on page 2 of the registration. These numbers must be used to set up an account on PulsePortal.com. Once the account is set up for your business, you will be able to submit individual coin dealer representative registration applications and perform other functions on the system.
The original Minnesota Surety Bond for the place of business must be mailed to the Minnesota Department of Commerce. The Power of Attorney document must also be attached to the Surety Bond.