IB 
Union Calendar No. 402 
111TH CONGRESS 
2D SESSION 
H. R. 4501 
[Report No. 111–673] 
To require certain return policies from businesses that purchase precious 
metals from consumers and solicit such transactions through an Internet 
website. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 21, 2010 
Mr. WEINER introduced the following bill; which was referred to the 
Committee on Energy and Commerce 
DECEMBER 7, 2010 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
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A BILL 
To require certain return policies from businesses that pur-
chase precious metals from consumers and solicit such 
transactions through an Internet website. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Guarantee of a Legiti-
mate Deal Act of 2009’’. 
SEC. 2. RETURN REQUIREMENTS FOR PURCHASERS OF 
PRECIOUS METALS. 
(a) UNLAWFUL CONDUCT.—It shall be unlawful for 
any online purchaser of precious metals to— 
(1) refine through melting or otherwise perma-
nently destroy an item of jewelry or precious metal 
which the online purchaser of precious metals has 
made an offer to purchase before receiving an af-
firmative acceptance of such offer from the con-
sumer to whom such offer was made; 
(2) fail to promptly return to the consumer any 
jewelry or other precious metal if the consumer de-
clines the offer to purchase made by the online pur-
chaser of precious metals; or 
(3) fail to insure any shipment of such jewelry 
or precious metals in an amount equal to— 
(A) 60 percent of the melt-value of the 
jewelry or precious metals; or 
(B) the amount the consumer insured the 
shipment of the jewelry or precious metals to 
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the online purchaser of precious metals, if the 
consumer provides the online purchaser of pre-
cious metals with proof of such insurance. 
(b) DEFINITIONS.—As used in this Act— 
(1) the term ‘‘online purchaser of precious met-
als’’ means a person who— 
(A) is in the business of purchasing jewelry 
or other precious metals directly from con-
sumers; and 
(B) maintains an Internet website through 
which such person solicits such transactions; 
and 
(2) the term ‘‘melt-value’’ means the estimated 
value of any item of jewelry or precious metal, as de-
termined by the online purchaser of precious metals, 
once such item has been processed and refined by 
the online purchaser of precious metals. 
SEC. 3. ENFORCEMENT BY THE FEDERAL TRADE COMMIS-
SION. 
(a) UNFAIR AND DECEPTIVE ACT OR PRACTICE.— 
A violation of this Act shall be treated as an unfair and 
deceptive act or practice in violation of a regulation under 
section 18(a)(1)(B) of the Federal Trade Commission Act 
(15 U.S.C. 57a(a)(1)(B)) regarding unfair or deceptive 
acts or practices. 
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(b) POWERS
OF COMMISSION.—The Commission 
shall enforce this Act in the same manner, by the same 
means, and with the same jurisdiction, powers, and duties 
as though all applicable terms and provisions of the Fed-
eral Trade Commission Act (15 U.S.C. 41 et seq.) were 
incorporated into and made a part of this Act. Any person 
who violates such regulations shall be subject to the pen-
alties and entitled to the privileges and immunities pro-
vided in that Act. 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Guarantee of a Legiti-
mate Deal Act of 2010’’. 
SEC. 2. RETURN REQUIREMENTS FOR PURCHASERS OF 
PRECIOUS METALS. 
(a) UNLAWFUL CONDUCT.—It shall be unlawful for 
any purchaser of precious metals to— 
(1) sell, transfer to a third party, or refine 
through melting or otherwise permanently destroy an 
item of jewelry or precious metal before the purchaser 
of precious metals has received an affirmative accept-
ance of an offer to purchase the item for a specific 
price from the consumer to whom such offer was 
made; 
(2) fail to promptly return to the consumer any 
jewelry or other precious metal if the consumer de-
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