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 Replies: 11 / Views: 1,975 |
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Pillar of the Community
United States
2077 Posts |
The US Mint no longer accepts exchanges, only returns. They used to set aside a portion of the inventory to be used only for exchanges. This meant that if you bought an item and it sold out right after your order, you could still get it replaced. Not any more. If it sells out, you are out of luck. This also has an effect on the total mintage. If there is a limited run of 50,000 and they receive 5,000 returns, the new mintage is 45,000. Any thoughts on this?
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Pillar of the Community
United States
1903 Posts |
I think, long term, this is a fantastic policy! Why? Because if they stick to this policy and they consistently get lots of returns, it will force them to up their quality control. If their leadership on the other hand doesn't have this perspective, what we may see is an increase in premiums to cover the lost profit from returned product ( the incurred the cost of manufacturing the returned product which they pass along to the sets that are kept...based on estimates of percent returned in the future production)
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Moderator
 United States
187537 Posts |
The new policy saves them money from fewer returns. Many will lower their standards and keep problem items once they factor in the chance of not getting a replacement.
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Valued Member
United States
406 Posts |
Perhaps the Mint is hoping people will decide to hedge their bets and purchase more copies of their offerings, and thus increase the Mint's sales.
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Pillar of the Community
United States
4901 Posts |
I have seen nothing that says that they will not repackage the returns for sale.
There was a Mint rep a couple of months ago that admitted that they repackage those returns and ship them....I cannot find the link for that interview though.
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Pillar of the Community
 United States
2077 Posts |
I'd have no problem with that unless the coins were returned because of defects.
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Pillar of the Community
United States
8137 Posts |
 , If the coin has defects then it's the Mint's problem and the should have the option of a replacement or a refund if that is the case. |
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Bedrock of the Community
United States
17884 Posts |
Quote:
I have seen nothing that says that they will not repackage the returns for sale.
There was a Mint rep a couple of months ago that admitted that they repackage those returns and ship them....I cannot find the link for that interview though. There was also a thread on one of the forums recently from someone who recently ordered one of the Kennedy clad sets and one of the sets he received was apparently a returned set. It had a piece of masking tape next to one of the coins with a note on it explaining the defect on the coin. So it wasn't repackaged, just reboxed and shipped again. Edited by Conder101
11/13/2014 12:07 pm
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Valued Member
United States
462 Posts |
So what happens if an item sells out, they mark it as so, and then they get 100 returns? Do they then show them as in stock and offer those for sale again?
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Pillar of the Community
United States
604 Posts |
Quote:
someone who recently ordered one of the Kennedy clad sets and one of the sets he received was apparently a returned set. It had a piece of masking tape next to one of the coins with a note on it explaining the defect on the coin. The people working at the mint can't be that lazy. I mean seriously, how can something like this happen? They should have at least removed the note...  |
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Pillar of the Community
United States
2077 Posts |
Quote:
someone who recently ordered one of the Kennedy clad sets and one of the sets he received was apparently a returned set. It had a piece of masking tape next to one of the coins with a note on it explaining the defect on the coin. Wow. That's bad. You'd think they'd at least see if the coins were there. Maybe I'll return my Kennedy set with no coins to see if they'll notice. |
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Pillar of the Community
United States
7184 Posts |
I'm crossing my fingers on returning and repurchaseing the silver Kennedy set. Disappointed that the return shipping clearly showed an option for replacement.
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Replies: 11 / Views: 1,975 |
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Posted 11/12/2014 3:07 pm
