Crafted precious metal
Also called crafted precious metal dealer
Crafted precious metal is a category defined in the Texas Occupations Code for items made wholly or partly of precious metal, and it's the basis of Texas's rules for crafted precious metal dealers.[1]
The definition excludes items that sell at or above a set multiple of their scrap value, which is why a dealer trading watches at market value is likely outside the regime, while scrap and melt buyers are inside it.[1]
The Texas guide explains the exclusion and the duties for dealers who are covered.
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Learn the trade, not just the word
Plain-English guides to buying, pricing and selling watches as a business. Free, and written to be used at the counter.