The US Mint and what they do with returned silver coins?

I noticed that at least a couple of people here on CT returned their American Silver Eagle Coin Sets 2012 because of spots, milk spots. Do you really think the US Mint just takes those returned coins and sells them to someone else? I mean if they send it through a process that removes the milk spots then I guess it's alright but just to turn around and send them out to the next buyer doesn't seem right. What do you think?

 

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If the mint is like any other business, they would have their QC department make a decision on it such as resell, reprocess, rework, or destroy. I doubt that they use the last one too often unless it comes back radioactive or something.

 

They re-sell them.

 

Returned sets

Last week I received my fours sets and upon inspecting them six out of eight coins were unacceptable. So I believe I was the victim of mint returns. One coin had been sealed with what appeared to be two grease spots. Almost greenish in color. Another had been sealed with some foreign material on the coin. One reverse proof had two large nicks on Liberty's gown. Very obvious with the naked eye two feet away. Some had nicks on letters. Others had scratches in the frosted cameo. All four reverse proofs were unaccepatable. I wrote them a letter of concern obout their quality control, not that it will matter,so I returned them and replacements are due in this week. I can hardly wait to see what they send me this time. Now you know what they with the returns....keep sending them out.

 

If they really do sell their returned coins then they're more ghetto than I thought and that's just one more reason for me to stay away from them.

 

I buy a lot of stuff from the mint and the quality is quite good. I try to buy early to avoid getting other people's returns. I do believe that they inspect all returns prior to resale. Also, they read the reason for the customer's return and use that in their inspection process. I could be wrong, but I believe that is their process.

 

Well think about it. The cost associated just for striking these in the first place, compared to the cost of just re-selling them.

 

Repalcement AE Sets arrived today

My four replacement US Mint 2012 ASE Sets arrived today. Upon inspection all looked very good except one 2012 ASE proof. It obv appeared to have three small black marks on the bottom hem of Libety's gown and on the rev, the coins has an nick in the rim edge. All four rev proofs look fine. Not sure what I will do with the imperfect proof.

 

I remember reading about this but I don't have the source. I read that they do recycle the coins if they are determined to be defective but it I guess it is up to the individual receiving the returned coins to determine if they are defective or if they will just be re-sold.

 

WOW! Received my one set today that I ordered in the last half hour of sales. I was ready to return it, as I’ve received rejects before. I went over every millimeter at every angle with a 5x and both coins are perfect, they have to be 70’s. This is the first time I have inspected ASE’s that don’t have a problem, every other one I inspected had a problem. So, I’d say if you received bad one’s, return them as there is a chance you’ll receive better coins – there’s no way the set I received was a previous return.

 

this subject really chaps my hide. I really find this practice (that the mint certainly DOES engage in) very unethical.

 

Someone goes to your local Wal-Mart and buys a jacket, takes it home, tries it on, then decides they don't like it after all and they return it. Wal-Mart puts new tags on it, and places it on the rack.

You come along, see it, buy it, take it home.

No difference at all really, except the cost of melting down the ASE, re-manufacturing it into a blank, then planchet, then re-striking it; is far more than a jacket being re-made.

 

Mint customers sometimes buy many of the same item and pick out the 70s and return the rest. The Mint will inspect returns and put them back in stock if they are "no problem" coins.

On returns that ARE problem coins they are destroyed. These are usually from customers that purchased a single item and was displeased.

 

These coins are a specific collector item and they are extremely condition sensitive. I just can't accept the comparison that you are trying to make.

 

I just do not accept that. Specifically with the spouses. More than half of the spouses have a defect of some sort- that is just unacceptable on coins that cost $1000+-

 

I almost always agree with you but on this one I find that (with the Spouses) there is a very high percentage of problem coins. I guess you have not purchased any gold Spouse coins? Also you will find that about 1/4 of the proof sets will have a dollar or cent with discoloration (to me that is a "problem coin"). It is really not fair to people who are new to the hobby to put out info stating that the mint sells very few problem coins, newbys need to be forewarned of this.

 

The only comparison I'm making Dan is Wal-Mart would no more send that jacket back to the manufacturer or destroy than the Mint would destroy an ASE because one person didn't like the appearance of it.

Read my sig line and you'll understand.