The United States Mint is shortening its standard money-back Return Policy from 30 days to 7 days effective Tuesday, Feb. 10, at 8:00 a.m. ET. The mini-notice, shown below, is currently posted on the Mint’s online shopping entry page.
The existing 30-day policy has been around for years. The new 7-day return period is not unexpected, however, considering the Mint now updates numismatic gold and platinum coin prices based on weekly London Fix bullion averages. For the Mint, the reduced period will make it less likely that a customer will return a coin only to repurchase it later at a lower price.
The new Mint Shipping Information & Return Policy states in part:
If for any reason within 7 days (except for Circulating $1 Coin Direct Ship Rolls) of receiving your product you are dissatisfied with your purchase, return the entire product for refund or replacement. Shipping charges will not be refunded.
Given 7-days includes a weekend and non-shipping Sunday, collectors will have to be markedly swift with their returns. The new policy is not likely to phase collectors who are used to such periods from coin dealers, but it is sure to spark ire with many who feel the Mint itself is often exceedingly slow in shipping its products to customers.