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what does Mint do with returned coins?
Nooker
Posts: 634
The recent Backordered status, and sell out, of the 2011-W Gold Eagle has made me wonder what the Mint does with returned coins (I have one on Backorder right now, so I have an interest in this . . . I don't want junk that somebody else has sent back)
I would imagine they would re-inspect the coins, and if acceptable, they would put them back in stock. They would have to do this because if I recall correctly, the return slip doesn't allow you to give a reason for the return, just whether or not you wnt a replacement.
but I'm sure there are any number of scenarios that everybody "thinks" happens to the returns, but has the Mint ever said what they actually do with them?
Does anybody really know?
Mark
I would imagine they would re-inspect the coins, and if acceptable, they would put them back in stock. They would have to do this because if I recall correctly, the return slip doesn't allow you to give a reason for the return, just whether or not you wnt a replacement.
but I'm sure there are any number of scenarios that everybody "thinks" happens to the returns, but has the Mint ever said what they actually do with them?
Does anybody really know?
Mark
0
Comments
"returns go back through quality control. Acceptable coins go back on the shelf, unacceptable coins are destroyed."
Now if we can get their definition of acceptable we will have a better idea. I fear the same quality control personnel let them go out in the first place.
No Way Out: Stimulus and Money Printing Are the Only Path Left
...just like a grocery store does with post dated/half opened products................put 'em back on the shelf!
<< <i>I asked the mint that question and this is what I was told:
"returns go back through quality control. Acceptable coins go back on the shelf, unacceptable coins are destroyed."
Now if we can get their definition of acceptable we will have a better idea. I fear the same quality control personnel let them go out in the first place. >>
...should've asked them "is quality control subjective"
<< <i>
<< <i>I asked the mint that question and this is what I was told:
"returns go back through quality control. Acceptable coins go back on the shelf, unacceptable coins are destroyed."
Now if we can get their definition of acceptable we will have a better idea. I fear the same quality control personnel let them go out in the first place. >>
...should've asked them "is quality control subjective"
I worked 25 years with DoD as a nuc quality control specialist. QC is never subjective, it is performed to exact standards. Something either meets the standard or it does not - no judgement call allowed by the inspector. An inspector's decision could always be overridden by a higher authority, usually a cognizant engineer in my case. Of course it was uncommon to find an engineer with a set that big. The US Mint may be the exception.
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>I asked the mint that question and this is what I was told:
"returns go back through quality control. Acceptable coins go back on the shelf, unacceptable coins are destroyed."
Now if we can get their definition of acceptable we will have a better idea. I fear the same quality control personnel let them go out in the first place. >>
I could only assume that any coin that does not have visible damage would be acceptable.
Of course damage is NOT a slight nick from handling or perhaps a slight ding in the rim or even a spot where the artificial cameo frost didn't take.
A lot of folks just buy these things and some never ever get around to even looking at them. I;m thinking that as long as it isn't visible scratched that they're gonna ship them out again.
I think this policy os one reason why folks scramble to order on the first day.
Now from my perspective, if I received a damaged proof coin that was either double struck, clipped, grease filled or some other such error, I would not be sending those back!
The name is LEE!
Now from my perspective, if I received a damaged proof coin that was either double struck, clipped, grease filled or some other such error, I would not be sending those back!
...i think there are a lot of us here that would agree with you.
So I wonder what they do with good coins that get sealed in packaging with junk floating around inside?
<< <i>Derryb is correct in his assessment of Quality... there are standards of acceptability. Undoubtedly the standards are not MS70 or PR70... but they do not have to be such. Especially since grades are, for the most part, arbitrary opinions. Cheers, RickO >>
And also, proof is a method of manufacture, not a standard of quality.
<< <i>If a coin is returned as damaged, the item is destroyed. Otherwise, it is likely (re)inspected and resold. >>
Correct.
When the '08 w/Rev. of '07 ASE craze was in full swing, I ordered tons of '08 W ASEs and sent the non-rev. '07s back. Many of the coins which I received from The Mint were clearly returns from folks doing the same thing that I was doing.
<< <i>Now from my perspective, if I received a damaged proof coin that was either double struck, clipped, grease filled or some other such error, I would not be sending those back!
...i think there are a lot of us here that would agree with you.
My pickup has a broken tail light and I'm sure it occured when it was struck. Is it worth more now?
<< <i>
<< <i>If a coin is returned as damaged, the item is destroyed. Otherwise, it is likely (re)inspected and resold. >>
Correct.
When the '08 w/Rev. of '07 ASE craze was in full swing, I ordered tons of '08 W ASEs and sent the non-rev. '07s back. Many of the coins which I received from The Mint were clearly returns from folks doing the same thing that I was doing. >>
What a wonderful person you are.....NOT.....!!!!!
<< <i>
<< <i>
<< <i>If a coin is returned as damaged, the item is destroyed. Otherwise, it is likely (re)inspected and resold. >>
Correct.
When the '08 w/Rev. of '07 ASE craze was in full swing, I ordered tons of '08 W ASEs and sent the non-rev. '07s back. Many of the coins which I received from The Mint were clearly returns from folks doing the same thing that I was doing. >>
What a wonderful person you are.....NOT.....!!!!! >>
Didn't the mint impose new rules to prevent the abuse of their return policy?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Somehow they always end up in my PO box
that makes 2 of us lol
<< <i>
<< <i>If a coin is returned as damaged, the item is destroyed. Otherwise, it is likely (re)inspected and resold. >>
Correct.
When the '08 w/Rev. of '07 ASE craze was in full swing, I ordered tons of '08 W ASEs and sent the non-rev. '07s back. Many of the coins which I received from The Mint were clearly returns from folks doing the same thing that I was doing. >>
Thanks, I made a killing with your 69's.
No Way Out: Stimulus and Money Printing Are the Only Path Left