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Replace coin from spotted 50th Anniversary Krugerrand


PolarPanda

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Hi all, 

Recently i bought the 50th Anniversary Silver Krugerrand set (with the bar). The set contains a 1 OZ Premium Uncirculated Krugerrand silver coin and a 2 OZ silver bar. 

Upon arrival i noticed that there is a huge milk spot on the front of the Krugerrand coin. I contacted the supplier, but given the fact that it's a 'Premium Uncirculated' coin and not a poof version, they don't want to replace it. Now i ask myself if i could just take the coin out of the set (the coin is just loose in the bar, so it's very easy to remove it) and replace it with another 50th Anniversary Krugerrand 1 OZ silver coin? 

What are your toughts about this? I'm very frustrated because of that milk spot on the coin and i want the set really to be in perfect condition.  

I ask this question because normally the normal silver coins are 'brilliant uncirculated' and this one seems to be labeled as 'premium uncirculated'. Does anyone even know the difference between the two? I'm confused... 

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35th Krugerrand? That's the 50th, right? Wasn't the 35th the Libertad?

Refusals to replace BU coins that have defects is very common, and we all know the situation when we buy them. BUT, that isn't a run-of-the-mill BU item you have purchased. You have bought a collector piece, which carries a high premium, where the coin is one element of it and has to be viewed separate to a regular Bu when it comes to the coin insert. You have not bought just a Bu coin here. You bought a boxed presentation piece which is not priced at a level where any defects are excusable. The fact that a Bu 1oz bullion coin is set within the bar was the decision of the manufacturer when assembling the collector piece as a whole package. A defect on the coin is a defect on the whole assembled item. Do not let the supplier you bought from get away with ignoring it. And why should you have to replace the insert coin yourself? You can certainly insist on return for refund on the whole purchase if they continue to fob you off, because it is an assembled collector item and not the same as buying bullion where they can absolutely refuse refund or replacement.

 

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Yes i'm sorry, i ment ofcourse the 50th anniversary of the Krugerrand. I heavely discussed about it with the dealer, but they don't want to replace it. I can't force them to do it... So my original question stays. Is there a difference between the coin in the bar and the PU that's sold seperate? 

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Are these, or any other coins for that matter, exempt from Consumer Contract Regulations?  I don't believe they are.

If you ordered online then by law you have 14 days to return for a full refund simply for a change of mind.  You will be responsible for return postage costs though unless you can prove the goods were faulty or defective.

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1 hour ago, PolarPanda said:

I heavily discussed about it with the dealer, but they don't want to replace it. I can't force them to do it... So my original question stays. Is there a difference between the coin in the bar and the PU that's sold separate? 

ok, sorry to hear you are not getting anywhere with the dealer. I really do think you should not let them off though, and instead of discussing a replacement with them, i would now be telling them to expect the complete item returned for a full refund, which they must honor being a defective collector piece and not a bullion purchase. And if they don't you will be making every collector forum of which you are a member aware by naming the dealer and the fact they refuse to stand by the quality of premium collectible purchases also, not just bullion coins.

I understand though, at this point you just want to fix the problem with the set you have in hand, and will someone just answer the question already! :)

Honestly - i don't know. I decided never to buy the silver Krugs what with the cheekiest premiums ever for a new issue 1million mintage. But i would make a fairly Strong guess that there is no difference at all between the one set in the bar, and the standard issue. The term 'Premium Uncirculated' has always smacked of slick sales speak for justifying a whopping added premium on what is a mass produced bullion coin. But hopefully someone who has the 3oz set and the single Bu to compare will let you know for certain.

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1 hour ago, Goldhooked said:

Are these, or any other coins for that matter, exempt from Consumer Contract Regulations?  I don't believe they are.

If you ordered online then by law you have 14 days to return for a full refund simply for a change of mind.  You will be responsible for return postage costs though unless you can prove the goods were faulty or defective.

Pm is not covered by this regulation, due the changing nature of PM prices, you could argue that the coin is covered due to the high value nature not being connected to spot but I don't think they would entertain you.

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Quote

Pm is not covered by this regulation, due the changing nature of PM prices, you could argue that the coin is covered due to the high value nature not being connected to spot but I don't think they would entertain you.

I agree for BU coins (investment coins) as their prices are constantly  indexed with the spot price, but I am not convinced that it does work for collectible coins : they are often at fixed prices, at a very high premium and they have nothing to do with the spot price. from my experience, I have had refund or exchanges for  them.

So at 500% premium for the limited edition of the 3oz Krugerrand set, I definitely consider it as a collectible set, and an (honest) seller has to refund it if it is defective.

I hope you will find a solution 

 

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