Mint News Blog

News, Information, and Commentary on US Mint Products

Monday, February 9, 2009

US Mint New Return Policy

The US Mint has announced a new return policy, which cuts the eligible return period from 30 days to only 7 calendar days. The new policy will go into effect tomorrow February 10, 2009 at 8:00 AM.

This new return policy was no doubt created in response to the US Mint's recently implemented precious metals pricing policy. Under the new pricing policy, the prices for gold and platinum numismatic products can be adjusted as often as weekly if the price of gold or platinum moves across certain thresholds.

Since the prices for products could be adjusted weekly and the old return policy allowed customers to return products for up to 30 days, this gave customers the opportunity to return products and reorder them if precious metals prices moved against them. Under the new return policy, this opportunity is greatly diminished.

In fact, I think many customers may have trouble complying with the policy when trying to return products for non precious metals inspired reason. Seven calendar days is a very short period of time.

The new policy seems to be an overreaction, which swings the pendulum from an extremely liberal policy to an extremely strict policy. The US Mint could have easily taken a different approach that would have preserved an element of customer service while protecting them from precious metals price exposure.

They could have potentially implemented a separate return policy for gold and platinum products. (The US Mint does have a separate return policy in place for Direct Ship Circulating $1 Coin orders.) They also could have allowed a longer return period for obviously defective products. Under the new policy, if you receive coins with obvious manufacturing defects and don't send them back within 7 days, you are apparently stuck with them.

Do you think 7 calendar days is too short? Discuss on Coin Network.

Here is the exact wording of the return policy from the US Mint's website:

Returns, Replacements, and Exchanges


* 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.

* The United States Mint will not accept partial returns nor will it issue partial refunds. For example, if you receive a United States Mint Silver Proof Set™ where one coin is in unacceptable condition, you must return the entire Proof Set, not just the one coin, to receive a refund.

* To return your product, use the reverse side of your packing slip to let us know why you decided to return your item(s) and your desired resolution (replacement, refund, or exchange) for each item. Use the provided return label or address your package to:

FULFILLMENT CENTER
2799 REEVES ROAD
PLAINFIELD IN 46168
USA

* For your protection, we strongly recommend that you return your order by insured mail and save the receipt for your records. The United States Mint is not responsible for lost return shipments.

* All refunds will be credited in United States Dollars.


Note:
The US Mint's policy posted online lists the first line of the return address as "Fulfillment Center" however recent receipts have this listed as "PBGS."

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4 Comments:

At February 9, 2009 at 3:59 PM , Blogger astroguy said...

Is it just me, or is this the wrong address? Isn't it PBGS in Indiana, where "Fulfillment Center" was the old place in Tennessee?

 
At February 9, 2009 at 4:05 PM , Blogger Michael said...

The street address, city, state and zip are correct. I have a recent US Mint shipping receipt that lists the same.

However, the first line is listed as "PCGS."

"Fulfillment Center" is what the US Mint has on the policy posted online. I'll add a note to the main post.

 
At February 9, 2009 at 5:16 PM , Anonymous Anonymous said...

PBGS- Stands for Pitney Bowes Government Solutions who are the newly contracted firm for the Mint Call Center and Fulfillment Facility in Indiana.

 
At February 25, 2009 at 12:00 PM , Anonymous Anonymous said...

HOT OFF EMAIL FROM THE US MINT:

Dear Customer,

The United States Mint is pleased to announce that we will resume shipping of the 2009 Ultra High Relief Double Eagle Gold Coin during the week of February 22, 2009. However, because of production problems with the Companion Book, you may receive only the COIN and presentation box at this time. If you are a customer who receives the COIN without the Companion Book, we will ship the Companion Book to you, at no extra charge, when it becomes available.

If you ordered your 2009 Ultra High Relief Double Eagle Gold Coin between January 22, 2009, and February 9, 2009, you are under the 30-day return policy. If you ordered on or after February 10, 2009, you are under the seven-day return policy. The return timeframe for the 2009 Ultra High Relief Double Eagle Gold COIN and presentation box will begin on the date you receive it. If you are dissatisfied for any reason with your 2009 Ultra High Relief Double Eagle Gold COIN, you may send it back to the United States Mint within the applicable return period for a full refund or replacement. If you return your COIN for any reason prior to receiving the Companion Book, we will cancel your shipment of the Companion Book. If you receive the Companion Book within the applicable return period, you must return both for a full refund.

If your Companion Book is shipped separately, the exchange timeframe for it also will begin on the date you receive it and under the same return policy – 30 days or seven days – as applicable. We will make no refunds for the Companion Book; we will make exchanges for damages only.

Customers’ orders will be shipped on a first-come, first-served basis. You will be notified by email when your order has shipped. If you do not receive the Companion Book with your COIN, you will receive a second e-mail notification when we ship the Companion Book.

If you ordered the 2009 Ultra High Relief Double Eagle Gold Coin between January 22 and February 23, 2009, we expect to ship it by April 24, 2009.

If you place your order for the 2009 Ultra High Relief Double Eagle Gold Coin on or after February 24 (and up until March 24, 2009), we expect to ship it by May 24, 2009.

Thank you for your interest in United States Mint products.

 

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