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United States Mint Updates Collectible Coin Return Policy

The United States Mint announces an update to its Numismatic Customer Return Policy to address the issue of excessive returns.

For many years, the U.S. Mint has been pleased to offer customers the option of returning any Mint product for exchange or refund within seven days of purchase for any reason and without restriction. A review of customer data indicates that the current unrestricted return policy facilitates the practice of excessive returns, which results in significant additional costs to the Mint.

Effective immediately, the Mint reserves the right to limit or refuse returns from purchasers who demonstrate return rates that exceed two percent. This update does not apply to valid issues of product quality. The Mint will advise in writing customers engaging in the practice of excessive returns with a “first notice” and ask them to review their order history and consider making changes to their purchase practices based on the updated return policy.

The Mint will send customers who continue to either return products for refund or exchange above the normal rate a “second notice” advising that the Mint will no longer accept returns from their account. A continued pattern of excessive returns will result in suspension of the customer’s account. Under the modified policy, the Mint reserves the right to charge a fee for excessive returns, but does not plan to implement such a fee at this time.

This minor change will only affect a small percentage of customers. More importantly, it will ensure that the Mint can continue to offer an exceptionally generous return policy with no impact to the vast majority of customers.

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About the United States Mint

usmintThe United States Mint was created by Congress in 1792 and became part of the Department of the Treasury in 1873. It is the Nation’s sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce.

The U.S. Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; and silver and gold bullion coins. The United States Mint’s numismatic programs are self-sustaining and operate at no cost to taxpayers.
 

United States Mint
United States Minthttps://www.usmint.gov/
Since Congress created the United States Mint on April 2, 1792, the primary mission of the Mint is to produce an adequate volume of circulating coinage for the nation. As a self-funded agency, the United States Mint turns revenues beyond its operating expenses over to the General Fund of the Treasury. Other responsibilities include: Maintaining physical custody and protection of the Nation's $100 billion of U.S. gold and silver assets; Manufacturing and selling platinum, gold, and silver bullion coins; and Overseeing production facilities in Denver, Philadelphia, San Francisco, and West Point, as well as the U.S. Bullion Depository at Fort Knox, Kentucky.

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