The Minnesota Department of Commerce regulates Bullion Product Dealers and Dealer Representatives.
A Bullion Product Dealer is any person who buys, sells, solicits, or markets bullion products or investments in bullion products to consumers and is incorporated, registered, domiciled, or otherwise located in this state; has a dealer representative located in this state; or does business with a consumer at an address in this state, or delivers or ships a bullion product or makes a payment to a consumer at an address in this state, unless the transaction occurs when the consumer is at a business location outside of this state.
A Bullion Product Dealer Representative is any natural person acting as an employee, contractor, or agent of a dealer and who has interactions with consumers for the purpose of the buying, selling, solicitation, or marketing of bullion products or investments in bullion products. This term does not mean a natural person who has interactions with consumers solely for administrative purposes.
Bullion product is defined as any coin, round, bar, or ingot containing silver, gold, platinum, palladium, or other precious metal.