To combat excessive returns, the Mint is modifying its unlimited seven-day product return policy.
Returns of defective products will continue to be taken without restriction. However, customers who have a history of returning items exceeding a two percent rate might find their returns limited.
The Mint said March 13 that it 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. The Mint says this change to its return policy will affect only a small percentage of customers.
Collectors have complained recently about Mint sellouts that turn out not be sellouts after speculators acquire and then return products to the Mint when they cannot sell them on the secondary market at profit.
A recent example of this was the 2017 Enhanced Uncirculated Set sold last August that was declared a sellout at 225,000 sets but then reversed.
This article was originally printed in Numismatic News Express. >> Subscribe today
More Collecting Resources
• Keep up to date on prices for Canada, United States and Mexico coinage with the 2018 North American Coins & Prices guide.
• The Standard Catalog of World Coins, 1901-2000 is your guide to images, prices and information on coinage of the 1900s.