Washington — The United States Mint announced an update to its Numismatic Customer Return Policy to address the issue of excessive returns.
For many years, the United States 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 on the vast majority of customers.
About the United States Mint
Congress created the United States Mint in 1792 and the Mint became part of the Department of the Treasury in 1873. As the Nation’s sole manufacturer of legal tender coinage, the Mint is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The Mint also produces numismatic products, including Proof, Uncirculated, and commemorative coins; Congressional Gold Medals; silver and bronze medals; and silver and gold bullion coins. Its numismatic programs are self-sustaining and operate at no cost to taxpayers.
Press release courtesy of the United States Mint.