Northwest Territorial Mint Lawsuit
This dispute between Northwest
Territorial Mint and the Attorney General of
Washington is about our policy of pricing of
Furthermore, the press release issued by the
Attorney General of Washington is inaccurate and
Investors from around the United States and
Canada can buy and sell precious metals such as
gold, silver, platinum, and palladium from
Northwest Territorial Mint without having a
Northwest Territorial Mint locks its clients in
to the current price of metal at the time of
purchase or sale.
We then expect those clients who buy from us to
remit payment within two business days, or, if
selling, to ship within two business days.
In case of buying from us, whence this dispute
arises, clients may pay with a personal check,
cashier’s check, money order, or bank wire.
To protect against bad checks or counterfeit
checks, it is our policy to hold these checks
ten business days after receipt.
It is our policy to ship our clients’ products
within 30 days of check clearance.
All of our terms and policies are clearly stated
on our web site, in the e-mail receipt we send
confirming their order, the statement mailed to
them, and reiterated with an e-mail after we
receive their payment.
Northwest Territorial Mint sells over 2,000
different products, some of which we buy
wholesale from such government entities as the
U.S. Mint and the Royal Canadian Mint.
Occasionally, some of the 2,000 products we
carry are delayed in shipping for various
reasons. It is these delays that have caused the
dispute between Northwest Territorial Mint and
the Attorney General of Washington.
At any time after our client purchases his
metal, he may sell that metal back at current
market value — even before receiving his metal.
We feel this policy is fair to both our clients
and Northwest Territorial Mint, as these
commodities in question can be volatile at
The Attorney General, citing a Federal Trade
Commission rule on consumer products, says that
we must refund clients their original purchase
price if we are late shipping clients’ metals.
We feel the Federal Trade Commission rule is for
consumer products and not investment products,
and if we were allowed to refund clients’ moneys
in a rising market, it would be inherently
unfair to our clients.
The Attorney General’s Office simply does not
understand the nature of our business. Last year
Northwest Territorial Mint did just under 69,000
transactions, resulting in complaints from just
11 individuals, or one complaint to the Attorney
General per 6,272 transactions.
We have never been contacted by the Federal
Trade Commission, and to our knowledge they have
never received any complaints.
We currently have a satisfactory record with the
Better Business Bureau, and to our knowledge all
complaints alleged by the Attorney General of
Washington have been satisfactorily addressed.
No client has ever lost money or been defrauded
by Northwest Territorial Mint.
Northwest Territorial Mint Is A Good Corporate
Citizen. Northwest Territorial Mint employs 135
people in three states. Northwest Territorial
Mint has been recognized by the State of
Washington for its work in mainstreaming
marginal workers when possible, and has been
lauded for its work for the U.S. military,
police departments, and fire departments around
the nation. In 2007, it was named Medium Private
Employer of the Year by the Governor’s Committee
on Disability Issues and Employment.