US Mint Cuts Return Period to 7 Calendar Days
The US Mint just posted a new return policy which becomes effective tomorrow.
Under the new policy, customers must return items within 7 calendar days of receipt. The previous policy allowed a 30 day return period.
This policy was likely implemented to combat the perceived potential for abuse stemming from their new pricing policy, which adjusts prices of gold and platinum products weekly. Customers could return gold and platinum products and reorder them at lower prices, if precious metals prices declined.
In my opinion this is a bit of an overreaction. 7 calendar days is very short and will probably prevent many legitimate returns from taking place.
The US Mint could have implemented a separate return policy for gold and platinum products. They also could have allowed a longer return period for defective products.
Mint News Blog Post.
Under the new policy, customers must return items within 7 calendar days of receipt. The previous policy allowed a 30 day return period.
This policy was likely implemented to combat the perceived potential for abuse stemming from their new pricing policy, which adjusts prices of gold and platinum products weekly. Customers could return gold and platinum products and reorder them at lower prices, if precious metals prices declined.
In my opinion this is a bit of an overreaction. 7 calendar days is very short and will probably prevent many legitimate returns from taking place.
The US Mint could have implemented a separate return policy for gold and platinum products. They also could have allowed a longer return period for defective products.
Mint News Blog Post.
Tags: usmint
Views: 6
Replies to This Discussion
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Permalink Reply by Johnny Joe on -
I am getting tired of the mint changing the rules as they go. What gives and when will this stop?
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Permalink Reply by ONE CENT on
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This tells me that gold will drop in 2009 and people wont be able to return there (UHR) when the value drops but how much will it drop ?
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Permalink Reply by ONE CENT on
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Effective February 10, 2009, at 8:00 am (ET), the United States Mint will institute a 7-day return policy on all products (except $1 coin direct shipments,which are not considered numismatic products.) Under this new policy, United States Mint customers will have the opportunity to return products within 7 calendar days from the date they receive their orders.
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Permalink Reply by Gary on -
I don't think this is the kind of coin you buy for the gold content, but for collectable purposes since it's priced so high over the bullion price. The gold eagle is more for that purpose of bullion.
ONE CENT said:This tells me that gold will drop in 2009 and people wont be able to return there (UHR) when the value drops but how much will it drop ?
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Permalink Reply by GoOgLyMoOgLy on
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ONE CENT said:This tells me that gold will drop in 2009 and people wont be able to return there (UHR) when the value drops but how much will it drop ?
Good question...except that they're printing money like mad, so I don't know how long the plunge protection team can keep up the charade.
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Permalink Reply by FiremanDev on -
Michael-
I recently received a shipment of coins from 'The Mint' and was reading through their return policy inluded with my shipment. It states, and I quote;
"If for any reason within 7 days of product shipment you are dissatisfied with your purchase, return the entire product for replacement, refund, or exchange." (bold emphasis added)
It says something completely different on 'The Mint's' web site;
"If for any reason within 7 days (except for Circulating $1 Coin Direct Ship Rolls) of receiving your product you are dissatisfied with your purchase, return the entire product for refund or replacement. Shipping charges will not be refunded." (emphasis added)
Here's my question...If I adhere to the former policy, and if it takes 8 days to receive your product, does this mean you can no longer return it to 'The Mint'? As an example...
My Lincoln Commem's shipped on 2/20/09. I just checked FedEx tracking and they are not due to be delivered until 2/28/09 technically putting me outside of the 7 day window. So, if I'm reading 'The Mint's' policy correctly, I would be screwed if I found the product damaged or I was "dissatisfied"? If this is the case, then a lot of folks may have an issue and not be aware of it...??
If I go by the latter policy, I'd be OK...maybe...I think. It's 'The Mint' after all...Which policy to believe?
What do you think? Which return policy is correct??
Anyone? Please....???
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Permalink Reply by coinnetwork on -
FiremanDev said:I recently received a shipment of coins from 'The Mint' and was reading through their return policy inluded with my shipment. It states, and I quote; "If for any reason within 7 days of product shipment you are dissatisfied with your purchase, return the entire product for replacement, refund, or exchange." (bold emphasis added)
I think they have badly mis-worded the statement included with the shipment. On their official notice published in the Federal Register, it reads:
Under this new policy, United States Mint customers will have the opportunity to return products within seven calendar days from the date they receive their orders. (bold added)
http://regulations.justia.com/view/134585/
At any rate, I still believe that 7 days is just too close for comfort. I receive my shipments at a PO Box and sometimes I don't pick them up for a few days. If a weekend falls in between, that's another day, and time has almost run out.
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Permalink Reply by FiremanDev on
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coinnetwork said:FiremanDev said:I recently received a shipment of coins from 'The Mint' and was reading through their return policy inluded with my shipment. It states, and I quote; "If for any reason within 7 days of product shipment you are dissatisfied with your purchase, return the entire product for replacement, refund, or exchange." (bold emphasis added)
I think they have badly mis-worded the statement included with the shipment. On their official notice published in the Federal Register, it reads:
Under this new policy, United States Mint customers will have the opportunity to return products within seven calendar days from the date they receive their orders. (bold added)
http://regulations.justia.com/view/134585/
At any rate, I still believe that 7 days is just too close for comfort. I receive my shipments at a PO Box and sometimes I don't pick them up for a few days. If a weekend falls in between, that's another day, and time has almost run out.
Thanks, Michael...when reading through the policy included in my shipment I kinda freaked when I noticed the language in this policy was distinctly different from that on the web site. And that just begged the question...
Unfortunately, the conflict (albeit a minor one) still remains. As a former gov't employee responsible for enforcing various laws, regulations and codes, I have a pretty good grasp of what a minor difference like this one can do if and when it comes to a dispute, and let me tell ya...it ain't pretty.
Man, I wish somebody over there would get their heads outta the sand...or elsewhere.
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