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F. Transactions involving coins or bullion in ingots. G. Transactions in which the secondhand item containing precious metal is exchanged for a new item containing precious metal and the value of the new item exceeds the value of the secondhand item. H. Transactions between precious metal deal- ers if both dealers are licensed under Minnesota Statutes, Section 325F.733, or if the seller's business is located out- side of the state and the item is shipped from outside the state to a dealer li- censed under Minnesota Statutes, Section 325F.733. I. Transactions in which the buyer of the secondhand item containing precious metal is engaged primarily in the business of buying and selling antiques and the items are resold in an unaltered condition except for repair, and the items are resold at retail, and the buyer paid less than two thousand five hundred dollars ($2,500) for secondhand items containing precious metals purchased within any period of twelve (12) consecutive months. 7. Precious Metals - Silver, gold or platinum. 8. RedemDtion Period - The date by which an item of property that has been pawned must be redeemed by the pledger without risk that the item will be sold. Such date must be a day on which the pawnbroker or precious metal dealer is open for regular business. 122.040. Applications. for Licenses. Every applica- tion for licenses under this section, whether for a natural person, partnership, corporation or other organization shall be made on a form supplied by the City and shall contain all information as required on that form by law. 122.050. Investiqation by Police Department. All applications shall be referred to the Police Department for verification and investigation of the facts set forth in the application. The ~olice Department shall make a written report and recommendation to the City Council as 4-21-94/1011.18/122.ord 3