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Thursday, May 15, 2008

Buyer of coins, collectibles returns to Roanoke County

Cashtown Estate Buyers will be contacted today by local authorities.

In March, Roanoke County's commonwealth's attorney office found a state law that gave police the authority to shut down breeze-into-town buyers of precious metals and jewelry.

So, how did Cashtown Estate Buyers manage to return to Roanoke County, secure a permit from police, set up in the Sleep Inn near Tanglewood Mall and begin buying Wednesday?

Cashtown told police, and made distinctions in its advertising, that it was interested only in buying coins, other collectibles and watches.

Thus, at least initially, Cashtown seemed to be in compliance with a state law that reads: "The business of a dealer [buying precious metals and gems] shall be conducted only from the fixed and permanent location specified in his application for a permit."

But complaints to the commonwealth's attorney office in Roanoke County raised questions about whether buying watches, especially high-end brands such as Rolex, could be considered buying precious metals.

Lt. Chuck Mason, a spokesman for Roanoke County's police department, said a detective will talk to Cashtown today about how it is buying watches.

Roanoke County Commonwealth's Attorney Randy Leach said that even if Cashtown is somehow bending the rules, it could be tough to build a case.

"The county police do a good job -- but they're not jewelers," he said.

Leach said his office has received a host of complaints about Cashtown, but no one has described a specific incident that might constitute a violation of state law.

"I'd advise people to be very careful about choosing buyers," he said.

Mason said bird-dogging out-of-town buyers of precious metals or gems normally would not be a priority for Roanoke County police detectives who investigate burglaries, robberies and other felony crimes.

But the price of gold ($865.40 per ounce, as of Wednesday) and other precious metals has spawned outfits who set up temporarily in town, buy what they buy and then move on, he said.

But because police must issue permits to the buyers, officers are spending time trying to enforce related laws.

Paul Mullenix answered the phone for Cashtown.

"We're not buying any jewelry whatsoever. We can buy watches," he said.

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