Ocean County officials have fined a traveling gold buyer $40,000 and banned him from doing business in the county after an investigation found multiple violations tied to how he was buying gold from residents.
The case began in 2025 after a complaint about gold-buying activity at a hotel on Route 70 near the Brick/Lakewood border. Investigators looked into Tal Kalif, who was operating under the names Estate Buyers and TK Diam, Inc.
Authorities say the business failed to follow key consumer protection rules. In New Jersey, gold buyers must be properly registered, use certified scales, and provide accurate receipts. Investigators found that these requirements were not being met. Three scales were seized during the investigation, including one that was not weighing items accurately in the customer’s favor.
As part of a settlement agreement, Kalif agreed to permanently stop operating in Ocean County. The agreement was finalized in January and later presented in Lakewood Municipal Court in March.
Officials say they are stepping up enforcement as gold prices surge, warning residents to be cautious when selling valuable items. The county says it will continue investigating complaints involving gold and precious metal sales.
The investigation was conducted by the Ocean County Division of Weights & Measures with assistance from the Lakewood Township Police Detective Bureau.
