- Terms and Conditions
Terms of Service
AS USED IN THE TERMS AND CONDITIONS, THE TERM "YOU" SHALL MEAN ANY VISITOR TO THIS PMIG of Texas WEBSITE WHO ACKNOWLEDGES AND AGREES TO THESE TERMS AND CONDITIONS.
By accessing and using this Website, you agree to each of the Terms And Conditions ("TAC") set forth herein.
FACTS, RISKS AND POLICIES THAT COLLECTORS AND PURCHASERS SHOULD KNOW:
PMIG of Texas recommends that coins, rare currency and bullion should only be part of a diversified portfolio.
If you are purchasing coins, rare currency or bullion for investment purposes, they should be considered a long-term investment.PMIG of Texas believes that rare coins and currency should be held for at least 3-5 years and, preferably, 5-10 years to maximize your potential for gains. Any specific holding period may be affected by current market conditions which may require a longer or shorter holding period.
When you decide to sell your coins or currency, PMIG of Texas appreciates the opportunity to purchase them at our current bid/buy price. PMIG of Texas is familiar with the quality and marketability of the items sold by it, and does not charge any additional fees or commissions when making such purchases. Depending upon market conditions and your original purchase price, you may receive less than what you paid for the coins and currency. The law prohibits guaranteeing to repurchase coins. Therefore, PMIG of Texas's buy-back policy is not a guarantee and is subject to change without notice.
All packages shipped to PMIG of Texas's clients are insured. Your acquisitions will be delivered within twenty eight (28) days of payment of good funds (unless your State requires a different delivery period). If a shipment is lost or damaged, at PMIG of Texas's option, PMIG of Texas will either replace the items or refund your purchase price.
Please inspect the shipment thoroughly upon receipt to ensure you have received your order and that the items track the description on your delivery invoice. Any variance from your order must be reported within five (5) days of receipt of your shipment and you must have all original packing materials intact.
All investments involve risk. Coins, currency and bullion are no exception. The precious metals, rare coin and rare currency markets are speculative, unregulated and volatile. Prices for these items may rise or fall over time. The value of a bullion coin is largely determined by the current spot or market price of bullion. This price fluctuates throughout the trading day. PMIG of Texas does not guarantee any client buying for investment purposes will be able to sell for a profit in the future. Bullion, rare coins and currency can go down as well as up in value. These items may not be suitable for everyone. PMIG of Texas does not determine the suitability of any specific person to purchase rare coins or currency or bullion.
The value of a numismatic or rare coin is determined by multiple factors which can and do fluctuate independently from bullion prices. These factors include: the perceived scarcity of the coin, its quality, current demand, market sentiment and economic factors.
You should consult with your independent financial advisor regarding whether an investment in rare coins or currency or bullion is right for you. You should not acquire any products from PMIG of Texas if you are not competent or qualified to make your own financial decisions. You should obtain a thorough understanding of the coin and bullion items before you acquire these items as a collector or investor. You should evaluate its current market value, potential for appreciation and liquidity. Since rare coins, currency and bullion can decline in value, you should have adequate cash reserves and disposable income before you consider acquiring a coin, currency or precious metals. Early withdrawal from accounts or securities which may result in substantial penalties or fees is not recommended. You should consult with your independent financial advisor before disposing of any security, annuity, Certificate of Deposit or other investment to acquire rare coins, currency or bullion.
The prices charged by PMIG of Texas are subject to change based on market conditions. Prices are set internally based upon analysis of a variety of factors and are not necessarily tied to the prices quoted by any other organization. The price differential or "spread" between PMIG of Texas's selling price (the "ask" price) and the buy-back price (the "bid" price) is often referred to as a "transaction cost." The profit before operating expenses may be more or less than the spread based on various factors including, but not limited to: quantity purchasing, favorable or unfavorable purchases and positive and negative market conditions. PMIG of Texas acts as a principal, not as a broker, and generally owns the coins and precious metals it buys and sells.
PMIG of Texas does not recommend exchanging rare coins and/or currency (trading one coin or currency for another) unless you fully understand the costs involved in the buy and the sell transactions including, among other things, the spread for each item involved in any exchange transaction, since you must overcome both spreads before you make a profit.
Bullion, including bars, rounds and coins, may be acquired with credit card, bank wire, cashier's check or personal checks (dollar limits may apply to certain payment options). PMIG of Texas will only provide a firm price for your purchase upon receipt and verification of funds, and receipt of a signed Account and Storage Agreement and your agreement to these TAC. Your personal check is welcome; however, bank wire is faster and allows for much prompter completion of the order and shipment. There is a $25 service fee for all unpaid checks.
For your protection and convenience, PMIG of Texas provides clients with the right to a refund on their first transaction for coins and currency without any reason whatsoever (this refund policy does not apply to bullion purchases.) To receive a refund, the client must notify PMIG of Texas of his or her cancellation of their first transaction within ten (10) calendar days from the date the written trade confirmation is mailed to the customer (based upon the postmark) or delivered to a third-party carrier such as Federal Express. Notice must be in writing via US Postal Service, facsimile or email and sent no later than the last day of the refund period as determined by the postmark if mailed, date of fax transmission if faxed, or date of email as set forth in the email header. All other transactions are final upon taped confirmation by a PMIG of Texas representative and are not subject to cancellation. (Your State may have additional refund and cancellation rules which supersedePMIG of Texas's refund policy, above; please consult the terms and conditions set forth on the back of your invoice for specific rules which may apply to your purchase.)
Please mail returned items in certified mail to 616 Elm St, Portland, TX 78374. All refunds will be processed after the item is received. Please read our Refund Policy for details on obtaining a refund.
The Account Managers at PMIG of Texas are generally commissioned salespersons. Their commissions are usually greatest on rare coins and semi-numismatic coins and least on bullion related items. Their work experience, knowledge, background and training vary widely. They and/or PMIG of Texas may receive, from time to time, undisclosed compensation for recommending specific coin or currency items (including but not limited to contests, cooperative advertising, and trading profits in coins that they may own and/or sell).PMIG of Texas's personnel are not licensed as investment advisors and are not authorized to recommend the purchase or sale of any product as an investment or sell any other product other than the items specifically sold by PMIG of Texas. Check with a licensed professional with expertise in a particular market before making a decision to buy or sell any security, bond, annuity or financial instrument. Further, PMIG of Texas's personnel are not tax advisors and may not provide any advice regarding taxability, tax rates or related issues for any product PMIG of Texas sells. You should consult with your tax advisor regarding any questions about the tax implications of buying or selling bullion, rare coins or currency.
PMIG of Texas uses the numerical Sheldon Scale grading system which rates uncirculated rare currency and uncirculated coins from 1 to 70. Typically, the higher the grade, the more a coin or currency is priced. The grade assigned to a coin reflects its strike, luster, marks, scratches and overall eye appeal. Grading is a subjective art and subject to the opinion of the person grading the coin or currency. Thus, grading can and does vary from rare coin firm to rare coin firm, from grading service to grading service and from expert to expert. A difference of one grade (e.g., MS64 to MS65) can result in a significant change in the valuation of a rare coin or currency. Grading standards may continue to change, becoming more or less stringent. Grades and descriptions of rare coins and currency are opinions based on standards and interpretations that can and do change over time, not statements of fact or guarantees.
When you acquire a coin or currency from PMIG of Texas that is independently graded by a third party grading service, such as Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC) for coins and Currency Grading & Certification Incorporated (CGC), Paper Money Guaranty (PMG) or PCGS Currency for rare currency, please note that PMIG of Texas relies entirely on the expertise/determination of the grading service and upon definitions provided by these independent grading services, including definitions of such terms as PCGS' "First Strike®" which refers to coins packaged and delivered by the US Mint in the thirty (30) day period following the initial sales date of a new product. PMIG of Texas does not re-grade or independently evaluate the product's grade in its sealed holder, although from time to time PMIG of Texas does remove items from their sealed holder and re-submits them to the grading services. PMIG of Texas reserves the right to deliver independently graded coins that have been graded by an independent grading service of its choice, such as PCGS or NGC. PMIG of Texas guarantees that the rare coins and other items it sells are genuine.PMIG of Texas EXPRESSLY DISCLAIMS ANY OTHER WARRANTIES WITH RESPECT TO COINS OR OTHER ITEMS, EXPRESS OR IMPLIED, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.
FOR YOUR PROTECTION.
Telephone calls may be monitored and/or recorded in an effort to assure quality control and policy compliance. Your privacy is important to PMIG of Texas. If at any time you no longer wish to be contacted by a PMIG of Texas representative, please call or write and ask to be placed on PMIG of Texas Do Not Call list. Please make all payments payable to PMIG of Texas. Please do not send cash, money orders or traveler’s checks. Your payment options are: Bank wire, cashier’s check, personal check and for some transactions credit card. All metal/coins/currency must be sent US Postal Service (registered insured, return receipt requested) to PMIG of Texas. Check with your Account Manager for special packaging and address requirements. Please promptly notify PMIG of Texas in writing if you change your address or want to change your account title and include a signature guarantee or notarized letter plus a copy of your driver's license or a utility bill. Be sure to include your account number and sign all correspondence.
DISCLAIMER OF WARRANTIES.
PMIG of Texas MAKES NO EXPRESS OR IMPLIED WARRANTIES, REPRESENTATIONS OR ENDORSEMENTS WHATSOEVER WITH RESPECT TO THE WEBSITE OR ITS CONTENT. PMIG of Texas EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, WITH REGARD TO THE WEBSITE, ITS CONTENT, AND ANY ITEM FURNISHED OR TO BE FURNISHED VIA THE WEBSITE. PMIG of Texas DOES NOT WARRANT THAT THE FUNCTIONS PERFORMED BY THE WEBSITE WILL BE UNINTERRUPTED, TIMELY, SECURE OR ERROR-FREE, OR THAT DEFECTS IN THE WEBSITE WILL BE CORRECTED. PMIG of Texas DOES NOT WARRANT THE ACCURACY OR COMPLETENESS OF ITS CONTENT, OR THAT ANY ERRORS IN ITS CONTENT WILL BE CORRECTED. THE WEBSITE AND ITS CONTENT ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS.
LIMITATION OF LIABILITY.
IN NO EVENT WILL PMIG of Texas BE LIABLE FOR ANY DAMAGES WHATSOEVER, INCLUDING, BUT NOT LIMITED TO ANY DIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY OR OTHER INDIRECT DAMAGES ARISING OUT OF (I) THE USE OF OR INABILITY TO USE THE WEBSITE OR ITS CONTENT, (II) ANY TRANSACTION CONDUCTED THROUGH OR FACILITATED BY THE WEBSITE; (III) ANY CLAIM ATTRIBUTABLE TO ERRORS, OMISSIONS, OR OTHER INACCURACIES IN THE WEBSITE AND/OR ITS CONTENT, (IV) UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA, OR (V) ANY OTHER MATTER RELATING TO THE WEBSITE OR ITS CONTENT, EVEN IF PMIG of Texas HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IF YOU ARE DISSATISFIED WITH THE WEBSITE, ITS CONTENT, OR WITH THE PROVISIONS OF THIS TAC, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE WEBSITE.
BECAUSE SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU. IN SUCH STATES, PMIG of Texas'S LIABILITY IS LIMITED AND WARRANTIES ARE EXCLUDED TO THE GREATEST EXTENT PERMITTED BY LAW, BUT SHALL, IN NO EVENT, EXCEED ONE HUNDRED DOLLARS ($100.00).
ACCURACY OF INFORMATION.
The Website may contain technical inaccuracies or typographical errors or omissions. PMIG of Texas is not responsible for typographical, pricing, product information, advertising or other errors on the Website. Advertised prices and available quantities are subject to change without notice. PMIG of Texas reserves the right to make changes, corrections and/or improvements to the items and programs described on the Website at any time without notice.
PMIG of Texas is not responsible for communication malfunctions, failures, difficulties, or lost, stolen, or misdirected, transmissions, messages or entries, or the security of any such communications. Further, PMIG of Texas is not responsible for incorrect or inaccurate entry information, whether caused by user(s) or by any of the equipment or programming associated with the Website, or by any technical or human error that may occur in the processing of any information related to the Website. PMIG of Texas is not responsible for any damages that may arise as a result of any orders you request or make on the Website which are not processed or accepted for any reason.
TIMELINESS OF INFORMATION.
All materials that are contained on PMIG of Texas’s Website were, to the best of PMIG of Texas’s knowledge, timely and accurate when first presented. However, the passage of time can render information stale, and you should not rely on the continued accuracy of any such material beyond the date of issuance. PMIG of Texas has no responsibility to update any information contained in any such material. All viewers should carefully check the dates of issuance of the material contained in the Website.
ALL DISPUTES ARISING OUT OF OR RELATING TO THIS TAC OR YOUR USE OF THE WEBSITE WILL BE EXCLUSIVELY RESOLVED UNDER BINDING ARBITRATION HELD IN CORPUS CHRISTI, TEXAS. THE ARBITRATOR’S AWARD WILL BE BINDING AND MAY BE ENTERED AS A JUDGMENT IN ANY COURT OF COMPETENT JURISDICTION. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, NO ARBITRATION UNDER THIS TAC WILL BE JOINED TO AN ARBITRATION INVOLVING ANY OTHER PARTY SUBJECT TO THIS TAC, WHETHER THROUGH CLASS ARBITRATION PROCEEDINGS OR OTHERWISE. NOTWITHSTANDING THE FOREGOING, PMIG of Texas WILL HAVE THE RIGHT TO SEEK INJUNCTIVE OR OTHER EQUITABLE RELIEF IN STATE OR FEDERAL COURT LOCATED IN CORPUS CHRISTI, TEXAS TO ENFORCE THIS TAC. IN THE EVENT EQUITABLE RELIEF IS SOUGHT, EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE PERSONAL JURISDICTION OF SUCH COURT.
ENTIRE AGREEMENT/NO WAIVER.
These TAC constitute the entire agreement of the parties with respect to the subject matter hereof. No waiver by PMIG of Texas of any breach or default hereunder shall be deemed to be a waiver of any preceding or subsequent breach or default.
ENFORCEMENT/ CHOICE OF LAW.
If any part of these TAC is or are determined by a court of competent jurisdiction to be invalid or unenforceable, it will not impact any other provision of this TAC, all of which will remain in full force and effect. Any and all disputes relating to this TAC, your use of the Website, any other PMIG of Texas Website, are governed by, and will be interpreted in accordance with, the laws of the State of Texas, without regard to any conflict of laws provisions.