A Precious Metal and Gem Dealer's Bond is required by Section 54-859.21 of the Code of Virginia in order to legally conduct business in the Commonwealth of Virginia. The surety bond must be in the penal sum or coverage amount of Ten Thousand Dollars ($10,000.00) and the purpose of the bond is to ensure that the precious metal and gem dealer complies with the provisions of Chapter 23.2 of the Code of Virginia. This surety bond may be cancelled by the surety bond company by giving thirty (30) days notice in writing to the Virginia Beach Commonwealth's Attorney. In addition to the Commonwealth bond requirement, the cities of Norfolk, Falls Church, and Martinsville may require a Precious Metal and Gem Dealer's Bond. Surety Bonds Direct is fully licensed and authorized to provide these bonds for you.
