This bill establishes a new crime related to the sale of counterfeit items, specifically targeting fraud involving gold, silver, or other precious metals. A person would be guilty of a third-degree crime if they engage in deceptive practices such as creating false impressions about the composition or value of coins or bullion, or misrepresenting the grading and authentication of these items. The bill also mandates that individuals convicted under this statute must pay compensation to victims amounting to three times the damages sustained.

Additionally, the bill introduces enhanced penalties for offenses committed against senior citizens, defined as individuals aged 62 and older. If the victim is a senior citizen, the defendant faces a mandatory prison sentence that is at least one-third to one-half of the imposed sentence or one year, whichever is greater, and they would be ineligible for parole during this time. The bill clarifies that convictions under this new statute will not merge with other offenses, ensuring that offenders face separate consequences for each violation.