Green’s Dictionary of Slang

(UK Und./police) a receiver of stolen goods.

1930		(con. 1910s) D. Mackenzie Hell’s Kitchen 156: The term ‘fence’ belongs to the Upper-world; receivers of stolen property are known in the Underworld as ‘buyers’.
1935		G. Ingram Cockney Cavalcade 234: Mac was left to dispose of it to the best advantage to one of the known ‘buyers’.
1941		V. Davis Phenomena in Crime 253: A buyer or taker. A ‘fence’.
1956		‘Charles Raven’ Und. Nights 21: The most impressive woman crook I’ve ever known was Bella Bennett, the buyer.
1970		R. Fabian Anatomy of Crime 193: Buyer: Fence.
1977		D. Powis Signs of Crime 176: Buyer Euphemism for a receiver of stolen goods. ‘Go in as a buyer’ means to pretend to be a receiver so as to identify thieves or to discover the whereabouts of stolen property.
1989		J. Morton Lowspeak.