The following words and phrases when used in this act shall have the meanings given to them in this section unless the context clearly indicates otherwise:

“Dealer in precious metals.” An individual, partnership, association, corporation or business entity, who or which purchases precious metals from the general public for resale or refining or any individual who acts as agent for such individual, partnership, association, corporation or business entity for such purchase or purchases. Excluded from this definition are financial institutions licensed under Federal or State banking laws, the purchaser of precious metals who purchases from a seller seeking a trade-in or allowance, the manufacturers of jewelry or of other items composed, in whole or in part, of gold, silver or platinum and the purchaser of precious metals for his, her or its own use or ownership and not for resale or refining.

“Gold.” Any alloy of the element gold, ten karat or of greater fineness. A karat is 1/24 part, by weight, of the alloy of the metallic element gold.

“Platinum.” Any alloy of the element platinum, 750/1000 or more parts per thousand, by weight, of pure platinum.

“Precious metals.” Items containing or being of gold, silver or platinum, including, but not limited to, jewelry and silver services, but excluding coins, ingots, bullion or photographic film or any article containing less than 5% of gold, silver or platinum by weight.

“Silver.” Any alloy of the element silver, 900/1000 or more parts per thousand, by weight, of pure silver.

“Working days.” Excludes Saturdays, Sundays and Federal or State legal holidays.