The U.S. mint sells back the returned coins!

SilverPlatinum

This is a proof that the U.S. mint sells back the returned coins! So they do not go for melting as some had suggested!
If I were in charge of the U.S. mint, I would put a law to melt the returned coins and shrink the allocated mintage. I think it's unethical to sell returned coins back to customers......That is my opinion.

JBK

You conveniently didn't highlight the last paragraph.

There is no reason to melt order cancellations or undeliverable orders.

As for the quality check, many (most?) collectors do not demand PR70, so these may be OK for them.

The mint is in business to sell coins (in the case of collectors' coins), not to increase rarity by melting coins.

Extremeengineer

@JBK said:
As for the quality check, many (most?) collectors do not demand PR70, so these may be OK for them.

Exactly. As if it is a reasonable expectation to hold the mint to a Six Sigma standard. They are not producing surgical instruments. I often read responses here that make me wonder if there is any numismatic enjoyment, or if there is simply the sterile goal of the highest quantitative analysis of a chunk of metal.

World67

As it reads, I don't have an issue with it.

VanHalen

Any damage pieces are melted.

MFeld

The Mint has no (ethical) obligation to ship coins which will grade 70 at the major grading companies. And I don’t think they’ve ever made any secret of the fact that they re-sell returned coins.

Onastone

@SilverPlatinum said:
This is a proof that the U.S. mint sells back the returned coins! So they do not go for melting as some had suggested!
If I were in charge of the U.S. mint, I would put a law to melt the returned coins and shrink the allocated mintage. I think it's unethical to sell returned coins back to customers......That is my opinion.

I called the Mint awhile ago to bring clarity to this...
Here is the transcript from a live chat:

Hi. I have a question about your process of returns.

Live Chat
Chat started
Hi.
Hello, my name is Sharda, thank you for contacting the United States Mint. With whom do I have the pleasure to chat with today?

This is Bill.

I'll be more than happy to assist you with your inquiry about returns, Bill.
How may I assist you?

I'm a member of the PCGS Forums and we are discussing what happens to coins returned to the mint.
Half of us say the damaged coins are melted. The other half think the mint resells them to other customers.
What is the journey of a returned coin? Does it get re-evaluted for sale or marked for destruction?

One moment please while I find the information you are requesting. Please allow me up to two minutes to research.
Thank you so much.

Thanks for waiting.

They get evaluated for sale.
If they are damaged then they are sent back to the mint.

That is all the information I have at this time.
Is there anything else I can assist you with today?

No. Thank you very much.

Thank you for shopping with the United States Mint, we’re happy to assist you today and in the future. For additional information on our products please visit our website at www.catalog.usmint.gov. Should you need further assistance from the United States Mint, please feel free to contact us at 1-800-USA-MINT (872-6468). For your convenience, we are available seven days a week between the hours of 8 a.m. to 9 p.m. ET.
The operator has ended the chat. Thanks for contacting us.

JBK

Sounds like AI.

In any case, that lines up with what they said about this week's sale.

oih82w8

Not that I am buying anything from this "sale", but does anyone know if the prices have been adjusted from their original sale prices?

SilverPlatinum

@oih82w8 said:
Not that I am buying anything from this "sale", but does anyone know if the prices have been adjusted from their original sale prices?

Yes for sure, this was below $200 back in 2018:

MarkKelley

@oih82w8 said:
Not that I am buying anything from this "sale", but does anyone know if the prices have been adjusted from their original sale prices?

The copy states that the coins will be sold at regular prices.

Namvet69

Everything is for sale and on sale. Just no discount. No bogo here!

ProofCollection

This thread probably belong here: https://forums.collectors.com/discussion/1097916/treasures-await-in-the-united-states-mint-vault-sale-on-cyber-monday#latest

Fraz

That little safe is winking; that oughta be a hint.

BLUEJAYWAY

In regard to any returned errors. Will they be resold or due to the mints, and I quote from that last paragraph "strict quality standards" will they be discarded? Should they have not gotten through QC to begin with,as it's been stated here that they have tightened up those errors being released. I understand that "errors" do occur.

jfriedm56

The only bargain there would have been the 2019-s Enhanced Reverse Proof ASE. Even at $90.00 ( which originally sold for $65.95), today worth possibly $1000.00+! All others simply overpriced.

jmlanzaf

@BLUEJAYWAY said:
In regard to any returned errors. Will they be resold or due to the mints, and I quote from that last paragraph "strict quality standards" will they be discarded? Should they have not gotten through QC to begin with,as it's been stated here that they have tightened up those errors being released. I understand that "errors" do occur.

The standard is not 70. People return 69s all the time. Coins get scratched in shipping, certainly. And I'm sure a few accidentally slip through QC.

People who insist on 70s should buy them slabbed and not waste everyone's time and money by buying raw and returning perfectly acceptable coins.

jmlanzaf

@jfriedm56 said:
The only bargain there would have been the 2019-s Enhanced Reverse Proof ASE. Even at $90.00 ( which originally sold for $65.95), today worth possibly $1000.00+! All others simply overpriced.

That's actually not true. The 2021 Mirgan and Peace would also have been worth buying. A couple of the 4 coin gold proof sets would also have been with buying. If you wanted them.

BLUEJAYWAY

@jmlanzaf said:

@BLUEJAYWAY said:
In regard to any returned errors. Will they be resold or due to the mints, and I quote from that last paragraph "strict quality standards" will they be discarded? Should they have not gotten through QC to begin with,as it's been stated here that they have tightened up those errors being released. I understand that "errors" do occur.

The standard is not 70. People return 69s all the time. Coins get scratched in shipping, certainly. And I'm sure a few accidentally slip through QC.

People who insist on 70s should buy them slabbed and not waste everyone's time and money by buying raw and returning perfectly acceptable coins.

I was referring to minted error coinage being returned.

jmlanzaf

@BLUEJAYWAY said:

@jmlanzaf said:

@BLUEJAYWAY said:
In regard to any returned errors. Will they be resold or due to the mints, and I quote from that last paragraph "strict quality standards" will they be discarded? Should they have not gotten through QC to begin with,as it's been stated here that they have tightened up those errors being released. I understand that "errors" do occur.

The standard is not 70. People return 69s all the time. Coins get scratched in shipping, certainly. And I'm sure a few accidentally slip through QC.

People who insist on 70s should buy them slabbed and not waste everyone's time and money by buying raw and returning perfectly acceptable coins.

I was referring to minted error coinage being returned.

You mean like strike throughs? Same answer applies. Small defects are acceptable. You rarely see any major defects.

Errors are not supposed to leave the Mint.

jfriedm56

@jmlanzaf said:

@jfriedm56 said:
The only bargain there would have been the 2019-s Enhanced Reverse Proof ASE. Even at $90.00 ( which originally sold for $65.95), today worth possibly $1000.00+! All others simply overpriced.

That's actually not true. The 2021 Mirgan and Peace would also have been worth buying. A couple of the 4 coin gold proof sets would also have been with buying. If you wanted them.

Actually I was talking about myself. For me, that was the only bargain worth purchasing. There was ample time to purchase the Morgan and Peace when they first came out and I did to the tune of 26 dollars( 22 Morgan and 4 Peace).

jmlanzaf

@jfriedm56 said:

@jmlanzaf said:

@jfriedm56 said:
The only bargain there would have been the 2019-s Enhanced Reverse Proof ASE. Even at $90.00 ( which originally sold for $65.95), today worth possibly $1000.00+! All others simply overpriced.

That's actually not true. The 2021 Mirgan and Peace would also have been worth buying. A couple of the 4 coin gold proof sets would also have been with buying. If you wanted them.

Actually I was talking about myself. For me, that was the only bargain worth purchasing. There was ample time to purchase the Morgan and Peace when they first came out and I did to the tune of 26 dollars( 22 Morgan and 4 Peace).

Fair enough.

BillJones

When a issue of coins is about to reach the end of its time for direct mint sales, the mint will often send out copy to the effect, "This is your last chance to buy this coin directly from the mint." From experience, I can tell you, "watch out." Don't be surprised if the coin they send you is marked up. It won't be ungradable, but it won't come close to "MS or PR-70 either.

Here is an example. Rumor had it that the Douglas McArthur $5 gold in Uncirculated was a low mintage coin, so I ordered one at the end of its mint run. Here's what I got. Note the mark on McArthur's nose and the two I pointed out on the lamp.