Mint Returns
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Replies to This Discussion
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Permalink Reply by Buffalo on -
I returned two gold Buchanan coins due to problems to get them replaced. It was an ordeal with multiple charges and refunds to my bank account and a slow process getting the replacements, but the replacements were good and the Mint also refunded my expenses in shipping the defective coins back. Call the Mint on the phone and they should help with info on how to get your shipping charges refunded. It was aggravating but it all worked out OK in the end so I would exchange it if it has a significant problem.
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Permalink Reply by Ike on -
I have returned 3 coins. 1 replacement had more flaws & I sent it back & I think they sent my original coin back---LOL even though, they said that’s not their policy. I could not get a straight answer as to what they do with the returned coins. 1 was an improvement (no flaws but was poorly struck). Another 1 was about equal to the one I sent back (1 less spot). They did reimburse me for shipping and insurance. I'm not sure how many times they would reimburse you for returning the same coin if the replacements were as bad as the ones you sent back. Since it is a proof, I would send it back, but the replacement may also disappoint you. I also think if enough people do send back flawed coins, the mint might get tired of paying shipping & insurance charges & check the coins before shipping them!! ----or quit reimbursing you for the returns--lol. If you do send it back, let us know the results. Thanks---Ike
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Permalink Reply by Craig Thomas on -
Buffalo and Ike, thanks for your input. I will call the Mint Monday and arrange a return. It's really more than smug, more like a very noticeable scratch in the middle of her forehead. I had my friend take a look, and she immediately noticed it. She said for $900 it ought to not to be obviously flawed. I just hope I don't receive a new coin worse than the one I return. Until as of late, I really never looked at my first spouse coins under a magnifing glass, but looking at the Perce coin, it also has a scratch. Oh well, I'll be looking at things more closely now and try to buy near opening as apposed to waiting. But sometimes the cash flow just isn't there. The Mary Todd Lincoln box was a little bit bent, a first from the previous first spouse coins I have purchased, so I do suspect it had already been returned.
I got my ATB 5 oz coins today, and I must say they look a little ridiculous. Almost like something for a cheesey board game. But the price was ok, so I really can't complain. I really didn't visulize what they would look like in person.
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Permalink Reply by abe pickens on
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Now you all can see how much damage Moy did to the U.S. Mint. It may never recover. I have received a number of defective proof coins and never attempted to return them because I did not expect to receive anything better if I even got a replacement coin back. We have a crooked government that has instilled their criminality in their workers.
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Permalink Reply by Craig Thomas on
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So now that prices went up, will I have to pay the higher price for the replacement? I ordered this on April 4th, but prices went up this past Thursday and my go up again if there's another run up, ($1487 or so was the spot market close). Maybe I ought to just keep the inferior coin. I don't know!
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Permalink Reply by Buffalo on
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Craig, you should not have to pay a higher price for an exchange. If you returned them for a refund and then ordered new ones you would, but you should not have to pay any price difference on an exchange.
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Permalink Reply by Craig Thomas on
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Thanks, Buffalo. I will give it a shot.
Buffalo said:Craig, you should not have to pay a higher price for an exchange. If you returned them for a refund and then ordered new ones you would, but you should not have to pay any price difference on an exchange.
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Permalink Reply by Louis on
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I think one of the reason's opening sales for most coins is much stronger than later sales is that a lot
of people want to make sure they don't get someone else's return. Plus most people figure gold will be
higher if they wait.
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Permalink Reply by Craig Thomas on
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I'm sure you're right. I used to wait, hoping the price might go down, but I won't do that any longer. Other times, I just don't have the available cash on hand. I think that is an issue with some others as well...I beleive it's one of the reasons Julia Tyler had such a low mintage...it came on the heals of the Letitia Tyler coin. We may see that again with the one month separation between the Johnson and Grant first spouse coins.
Louis said:I think one of the reason's opening sales for most coins is much stronger than later sales is that a lot
of people want to make sure they don't get someone else's return. Plus most people figure gold will be
higher if they wait.
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Permalink Reply by Louis on
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Thanks, Craig. Good point on the Johnson and Grant, but I suspect the Johnson will be on sale quite a while. But then you just never know given all the early sell-outs. Keep the secondary market in mind too. I've bought a lot of mine that way cheaper than the Mint, often getting, for example, 70's for the same as the current Mint price. Do you, and other spouse collectors here, tend to keep yours in OGP, or do you have them graded? I just don't know how else to store them, which is one of the reasons I like them slabbed. And then later you can put them in a slab album to see them all together! I had some graded recently and got 70's on some of the key coins, which was awesome!
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Permalink Reply by Craig Thomas on
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Louis, I haven't had any of mine slabbed. I keep all of the OGP, even the cardboard box they are shipped in. I storee all the coins at the bank and just keep the packaging here. I started with Dolley Madison, so I had to pick up the first three on Ebay. Besdies the cost, I don't like the fact that they won't fit in the OGP once they are slabbed. I really like all the details of this series, each with a unique obverse and reverse. I really think with the low mintages and being .9999 fine gold, there will be a great return one day. Of coarse, some of them already have more than doubled in value.
Louis said:Thanks, Craig. Good point on the Johnson and Grant, but I suspect the Johnson will be on sale quite a while. But then you just never know given all the early sell-outs. Keep the secondary market in mind too. I've bought a lot of mine that way cheaper than the Mint, often getting, for example, 70's for the same as the current Mint price. Do you, and other spouse collectors here, tend to keep yours in OGP, or do you have them graded? I just don't know how else to store them, which is one of the reasons I like them slabbed. And then later you can put them in a slab album to see them all together! I had some graded recently and got 70's on some of the key coins, which was awesome!
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Permalink Reply by Craig Thomas on
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Well, I called the Mint and the lady told me to take it to a UPS store and include the shipping receipt. She also said keep a copy for myself. When it came to shipping, the kid asked if I wanted it insured for $100. I told him the contents were worth about $900, and didn't want to pay for more postal insurance than I would be reinbursed for. He then decided, I really didn't need extra insurance after all, and for $9.68 it would be delivered by Friday afternoon. So I'll see how this works out. I just hope I don't get a coin back with a bigger flaw than the one I returned. For nearly $900 these should look better than the one I received. By the time Eliza Johnson is released, we will be paying what? The PM's are going crazy!
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