Effective Date: June 14, 2025

1. Introduction

Welcome to Royal Element. We are committed to maintaining the trust and confidence of our clients. This Privacy Policy outlines our practices regarding the collection, use, protection, and disclosure of your personal information when you use our services at our Vancouver, Washington location. As a buyer of precious metals, we are obligated to collect certain information to comply with local, state, and federal regulations. We are dedicated to handling your information securely and respectfully.

By engaging in a transaction with Royal Element, you agree to the terms of this Privacy Policy.

2. Information We Collect

To conduct transactions and comply with the law, we may collect the following types of personal information:

  • Personally Identifiable Information (PII): This includes your full name, physical address, telephone number, and email address.
  • Government-Issued Identification: We are required by law to view and record details from a valid, unexpired government-issued photo ID (such as a driver’s license, state ID card, or passport). This may include retaining a physical or digital copy of the ID.
  • Transaction Details: We maintain a detailed record of each transaction, including a description of the items being sold (e.g., “gold jewelry,” “silver coins”), the weight and purity of the metals, the transaction amount, and the date and time of the transaction.
  • Video Surveillance: For the security of our clients, staff, and assets, our premises are monitored by video surveillance cameras.

3. How and Why We Collect Your Information

We collect this information to:

  • Complete Your Transaction: To accurately process the sale of your precious metals and provide payment.
  • Comply with Legal Obligations: To adhere to anti-money laundering (AML) laws and regulations governing dealers of precious metals. This includes record-keeping and reporting requirements mandated by Washington state and federal law, which may involve reporting transaction details to law enforcement agencies through systems like LeadsOnline or as otherwise required.
  • Protect Against Fraud: To verify your identity and prevent fraudulent activities.
  • Communicate with You: To respond to your inquiries or provide information about your transaction.

4. How We Use and Share Your Information

Royal Element does not sell, rent, or trade your personal information. Your information is shared only under the following limited circumstances:

  • With Law Enforcement: We are legally obligated to share transaction data, including personal information, with local and federal law enforcement agencies upon their valid request or as part of our routine reporting duties.
  • As Required by Law: We may disclose information if required to do so by law, court order, or other governmental or law enforcement authority or regulatory agency.
  • To Prevent Harm: We may disclose information if we believe it is necessary to prevent imminent physical harm, financial loss, or to report suspected illegal activity.

5. Data Security

We take the security of your personal information very seriously. We implement a combination of physical and electronic security measures to protect your data, including:

  • Physical Security: All paper records containing personal information are stored in secure, locked cabinets accessible only to authorized personnel.
  • Digital Security: Electronic records are stored on secure, access-controlled systems with encryption to protect against unauthorized access.
  • Staff Training: Our employees are trained on the importance of confidentiality and privacy and are bound by internal policies to protect your information.

6. Data Retention

We retain your personal information for the period required to comply with our legal and regulatory obligations. This retention period is determined by Washington state and federal laws governing dealers in precious metals. After this period, your personal information is securely and permanently destroyed.

7. Your Rights

While we must retain your data for legally mandated periods, we respect your rights regarding your information. Subject to our legal obligations, you may have the right to request access to the personal information we hold about you. Due to the nature of our business and compliance requirements, the right to deletion may be significantly restricted until the legal retention period has passed.

8. Children’s Privacy

Our services are not intended for individuals under the age of 18. We do not knowingly collect personal information from minors. If we become aware that we have inadvertently collected such information, we will take steps to delete it immediately.

9. Changes to This Privacy Policy

We may update this Privacy Policy from time to time to reflect changes in our practices or for other operational, legal, or regulatory reasons. The updated policy will be posted at our location with a new effective date.

10. Contact Us

If you have any questions or concerns about this Privacy Policy or our data practices, please do not hesitate to contact us.

Royal Element

1101 Broadway St. Suite 230A Vancouver, WA

564-237-7332.