On April 19, 2016, the Court granted preliminary approval of a class action settlement involving Golden State Mint, Inc. The lawsuit captioned as Andrew Roseman v. Golden State Mint Inc., et al, Civil Action No. 5:15-cv-01100-VAP-SP, was filed in the United States District Court for the Central District of California, Western Division, on behalf of all persons who are residents of the United States who purchased a “1 oz Silver Round Walking Liberty Design” (collectively “Round” or “Rounds”) without the word “COPY” inscribed thereon, that was manufactured, or sold by Golden State Mint, Inc. between June 1, 2009 and April 19, 2016. The complaint alleges that the Round, which Plaintiff claims can be mistaken for United States minted coins, should have been inscribed with the “COPY” so as to remove any possible confusion that they are not United States minted coins, but rather privately minted silver rounds that Plaintiff claims is of a similar design. Defendant denies any wrongdoing and denies the claims and allegations asserted by Plaintiff. The Court has not ruled on the merits of the Plaintiff’s claims and has made no determination that Golden State Mint, Inc. has violated the law in any way. This settlement is for the resolution of a disputed claim that both Plaintiff and Defendant Golden State Mint, Inc. have agreed to resolve on terms they both believe represent a fair, adequate, and reasonable resolution that accounts for the disputed facts of this case and the parties’ respective claims and defenses.
WHAT ARE THE TERMS OF THE CLASS ACTION SETTLEMENT WITH GOLDEN STATE MINT? Defendant Golden State Mint, Inc. has agreed, subject to court approval, that each Class member who submits a timely Claim, with the appropriate proof, will have the right to return each Round they purchased without the word “COPY” inscribed thereon, to receive a monetary refund equal to the closing “spot” price of the silver contained in the Class Member’s Round as of the date that it is received by Defendant Golden State Mint, Inc. Golden State Mint, Inc. will pay for uninsured first class postage on both inbound and outbound shipping and handling. The proposed class action settlement is intended to settle all claims against Defendant Golden State Mint, Inc. that arise in any way from the Defendant Golden State Mint Inc.’s conduct as alleged in the complaint. By participating in this class action settlement as to Defendant Golden State Mint, Inc., each Class member is releasing all such claims as to Defendant Golden State Mint, Inc.
Preliminary Approval Order: Order and Opinion Granting Preliminary Approval of Settlement
Class Notice: GSM CLASS NOTICE FINAL
Claim Form: GSM CLAIM FORM FINAL
Settlement Agreement: Settlement Agreement fully signed-GSM