Mint adds details on product return policy
- Published: Mar 23, 2018, 6 AM
U.S. Mint customers whose return rates are in excess of 2 percent will face possible sanctions under the Mint’s new, more restrictive return policy.
The Mint on March 13 provided at its website more detailed information about the bureau’s revised numismatic product returns policy, including what actions can trigger suspension or cancelation of ordering accounts.
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For more than a decade, the Mint has offered a return privilege for customers to return numismatic products for exchange or refund for any reason within a seven-day window. The Mint absorbed the shipping costs for returning the items.
That seven-day return period is retained, but Mint officials are now establishing some new rules, aimed specifically at customers whose product returns exceed certain levels.
“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,” according to the notice on the Mint’s website.
“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.”
Customers who continue to return products for refund or exchange above the return rate of 2 percent will be provided with a “second notice” advising the customer 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,” according to the Mint. “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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Among the programs for which the U.S. Mint handled thousands of returns were the 2016-W Winged Liberty Head Centennial gold dime and the 2017 225th Anniversary Enhanced Uncirculated Coin set.
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