General Contract Terms
14 April 2023
The following General Terms and Conditions (hereinafter: GTC) pertain exclusively to online orders submitted from the websites of the Hungarian Mint Ltd. (hereinafter: the Company), which are accessible under the domain names www.penzvero.hu, www.coins.hu or www.emlekpenz.hu.
If you wish to purchase items from the webshop, we kindly request that you carefully read these General Terms and Conditions and only use our services in the event that you agree with each individual point of the GTC and accept such as binding.
The contract to be concluded (in the event of an order and order confirmation) is considered a written contract; the contract thus concluded is stored and administered in the Company’s database and is thus subsequently accessible.
The GTC has been prepared in Hungarian and English; in the case of divergence of interpretation, the Hungarian version shall prevail.
There is no Code of Conduct in respect of rendering services at the Company.
The following are available for ordering and purchase in the webshop: commemorative coins held by the Company which are issued by the Magyar Nemzeti Bank and are legal tender up to their face value until withdrawal from circulation, banknotes and specimen banknotes, circulation coins which have been withdrawn from circulation, commemorative coins minted by the Company, other minted products, circulation coinsets and investment products as well as literature and means of packaging and storage related to such.
Products which have been ordered can be paid cash on delivery, with delivery by courier; products which have been purchased and paid for online can be picked up in person or delivered by courier.
Orders and purchases can be initiated in the webshop at any time; confirmed orders are only processed during working hours, in accordance with the deadlines specified for the individual methods of delivery.
The Company can be contacted by the Ordering Party using the contact information in the event of any questions in relation to the operation of the webshop and the procedures for ordering, purchasing and delivery.
2. Operator of the Webshop
Hungarian Mint Ltd.
Represented by: Mrs Teréz Horváth, CEO
Registered office: 1239 Budapest, Európa utca 1.
Branch: 1054 Budapest, Báthory u. 7. (Trade Office)
Coin shop: 1054 Budapest, Báthory u. 7.
Tax registration No.: 10773965-2-43
Company registration No.: 01-10-041952
Court of registry: Commercial Court of the Municipal Court of Budapest
MKEH-NEHITI registration No. for trade in precious metals: OR1091
Commercial activity registration No.: 11832/B/2016
Tel.: +36-1-800-8110, or +36-1-800-8111 / Fax: +36-1-800-8113
Contact partner: Krisztina Üllei-Kovács, Commercial Director
3. Ordering procedure
The ordering procedure for the webshop is presented in the Ordering Information.
In the event that the Company encounters a problem in relation to the performance of an order which has been submitted (e.g. product is not available), the Company shall notify the Ordering Party in writing or by telephone within two (2) working days of the order being received or payment being effected and initiate discussion of the method of resolving the problem.
With regard to orders submitted online via the Company’s websites, including purchases prepaid by bank card or with cash on delivery, only those orders are deemed successful for which the confirmation message “Thank you for your order. A confirmation e-mail has been sent to the e-mail address provided.” appears on your computer’s screen and for which an order ID number is created. For purchases with bank card, please do not close your browser window until the payment page directs you back to the website www.penzero.hu and you have received the above message and order ID number.
Please note that for the website penvzero.hu there is a purchase limit, which means that for a given registered e-mail we can only accept online orders for three times the amount of the maximum purchase quantity indicated for each product within a 24-hour period.
Please note that, in order to effectively serve our customers, purchase is only possible by way of virtual queuing in some cases for new releases and new issues.
The virtual queuing system opens to the start of sales of the new product (lead-in period). Timing of the initiation of the lead-in period depends on the specific traffic load on the website; if the traffic load on the page reaches a critical level, the lead-in period starts. The length of this period can vary in the case of different new products or issues. The time when sales start is announced on the homepage “penzvero.hu” and in the menu “News”, on the Mint’s Facebook page and in the newsletter.
Upon the start of sales, the system randomly orders the customers who have logged in during lead-in period and begins directing them to the purchase page. Random ordering occurs automatically and cannot be influenced.
While the system is active, all users who log into the penzvero.hu website are queued in the online waiting area: users who register during the lead-in period are queued in random order by the system when sales begin, while users who log in later are assigned to the end of the current queue.
Upon logging into the penzvero.hu website, users are put in an “online waiting room”. This waiting room appears on the user’s screen and the system indicates their place in the queue and the approximate waiting time before the system allows the user onto penzvero.hu and the purchase process can begin. The approximate waiting time is an estimate by the system which may differ from the actual waiting time; the queue may also change (for example, if someone leaves the queue or finishes the purchase more quickly, etc.). We recommend continuously monitoring the current status for the entire waiting time.
After being admitted to the website, 15 minutes are available to finalise the purchase. If the purchase transaction is not completed within this period of time, the system automatically terminates the connection.
If the user refreshes the browser while in the waiting room, it cannot be guaranteed that the user will retain the same spot in the queue. Consequently, we do not recommend refreshing the browser during the waiting period.
If the internet connection is interrupted or other technical problems occur on the user-side, it is possible that the user will be relegated to the end of the queue. There is no way to remedy this and complaints in this regard are not accepted.
4. Customer identification for webshop purchases
Pursuant to the Act on Money Laundering (Act LIII of 2017), customers must be identified in the case of purchases by bank transfer, bank card or cash in respect of products made of precious metals which reach or exceed a gross value of HUF 300,000. For Ordering Parties/Customers requesting delivery with orders/purchases made in our webshop, customer identification can be performed using remote identification.
For in-person purchases of products made of precious metals which reach or exceed a gross value of HUF 300,000, the Company requests presentation of the document used to identify the customer, but does not make a copy of such.
For purchases or annual turnover of products made of precious metals which reach or exceed a gross value of HUF 4.5 million, the Company requests presentation of the document used to identify the customer, makes a copy of such and ensures safe storage of said copy for the period of time stipulated by law.
In the case of remote identification, the Company sends a customer identification form to the e-mail address provided by the Ordering Party/Customer, which the Ordering Party/Customer must complete, sign and return electronically to the e-mail address firstname.lastname@example.org or on paper to Magyar Pénzverő Zrt. 1734 Budapest, Pf. 518.
We are unable to initiate delivery of the product(s) ordered/purchased until we have received the fully completed customer identification form from the Ordering Party/Customer.
5. Payment methods
- Cash on delivery with delivery by courier
In the event of cash on delivery, payment of the price of the items ordered and the packaging and delivery costs is made to the courier service employee in cash upon delivery of the insured letter or package. Cash on delivery may only be selected as a payment method with an ordering address in Hungary.
- Prepayment with bank card
For all other forms of delivery or receipt in person, prepayment for the product ordered is effected online, by bank card. The following bank cards are accepted: VISA Classic, Visa Electron and Eurocard / Mastercard.
For prepayment, the Company offers the services of the secure online payment pages of Novopayment (novopayment.hu).
- Denomination of payment
The denomination of payment is HUF (Hungarian forint) for ordering addresses in Hungary and EUR (euro) for ordering addresses outside of Hungary.
- The prices disclosed in the webshop are unit prices and are stated in gross terms for delivery addresses in Hungary and the EU. With the exception of products qualified as gold for investment purposes which are exempt from VAT, commemorative coins sold at face value which thus do not fall under the scope of VAT, and specialised literature falling under the 5% VAT rate, 27% VAT is applicable on all products.
- For delivery addresses outside the EU, the prices are net export prices, excluding VAT.
- In the webshop, the status and current prices for current inventory stocks are shown.
- Prices do not include packaging and delivery and are valid as long as stocks last or until revoked.
- The Company reserves the right to change prices. Changes in prices do not apply to transactions in processing (ordered and/or paid).
- In the event that, despite all due care, an incorrect price is listed in the webshop, in particular with regard to an obviously incorrect price, e.g. one which significantly deviates from the generally known and accepted or estimated price, or unrealistic prices stemming from possible errors in the computer system, the Company is not required to deliver products ordered at the incorrect price. In such cases, the Ordering Party will be notified in writing within two (2) working days of the order being received or payment being effected, which terminates the contract. In such cases, the Ordering Party is entitled to request reimbursement of the amount paid due to termination of the contract or to re-order the goods at the correct price.
7. Regular customer discount
The Company has applied a regular customer discount since 4 May 2012.
The gross amount of retail purchases made from this date onwards, including the value of items acquired in online auctions, is totalled up by the Company and if the total amount of paid and settled purchases reaches HUF 150,000 (one hundred and fifty thousand forints), the customer is entitled to a 3% regular customer discount on the next purchase. This discount applies as long as the total turnover from the 365 days prior to the purchase in question amounts to at least HUF 150,000 (one hundred and fifty thousand forints).
- The combined amount of purchases made in the Company’s coin shop or websites are taken into account for the discount.
- Application of the discount is ensured by the invoicing programme built into the Company’s business management software, and the discount is only applied to products purchased and paid for as invoiced to a specific name.
- The regular customer discount does not apply to gold, silver and platinum investment products, presentation boxes, package offers, coins sold at face value and delivery costs, and other individual special offers can also be excluded from the regular customer discount. In the event of purchases of items that are exceptions or are included in special offers, the value of these items is included in the base for calculation of the regular customer discount.
- The Company reserves the right to change the degree and value limit of the regular customer discount, and to suspend application of the discount. In all cases, the changes will be announced in writing, as part of the GTC on the website.
8. Delivery methods
- Receipt in person
In respect of items prepaid by bank card, the Ordering Party may receive the goods in person at the Company’s coin shop on the 3rd working day following receipt of the order confirmation at the earliest.
Address of the coin shop: 1054 Budapest, Báthory u. 7.
Opening hours: working days, 8 am to 4 pm, except Thursday: 8 am to 5:30 pm
It is recommended to present the e-mail from Company confirming the purchase upon receiving the goods in person. Without this, the items ordered can only be received by the Ordering Party after providing the Ordering Party’s name and full address.
The Ordering Party may authorise a third person to receive the items, but for orders with a value of over HUF 50,000 (fifty thousand forints) a written authorisation, in the form of a private document providing full evidence, is required. The authorisation must contain the information necessary for identifying the Ordering Party and the order (e.g. name, address, order confirmation number). In certain cases, the Company reserves the right to stipulate receipt conditions differing from the above.
In the event of receipt in person, above and beyond the Ordering Party’s right of withdrawal detailed under Point 12 of these Conditions, the Company accepts no complaints after the store has been left.
The Ordering Party is required to pick up the products purchased within 30 days of online purchase. In the event that the items are not picked up by the deadline, the Ordering Party is considered to be in default (Civil Code, 6:156.§). Upon expiration of the 30-day pick-up deadline, the Company sends a reminder to the electronic contact address (e-mail) provided by the Ordering Party during registration, in the interests of ensuring pick-up of the purchased products. The Company shall hold the purchased products for the Ordering Party for 15 days after dispatch of the reminder. In the event that the Ordering Party does not appear before the 15-day deadline or it is not possible to send the reminder to the e-mail address provided by the Ordering Party, the Company shall deem the contract of sale void and initiate repayment of the consideration to the Ordering Party. Simultaneously with repayment, the Company is entitled to resell the products purchased by the Ordering Party.
- Delivery by mail
Delivery by mail may only be selected for ordering addresses (delivery address) outside of Hungary.
- Delivery by courier service
Cash-on-delivery orders and items prepaid by bank card to be delivered by courier are generally dispatched once weekly, on Thursdays, to the courier service performing delivery.
- Transfer of ownership rights for purchased products
In respect of products that are received in person, ownership rights are transferred with receipt; for courier or postal delivery ownership rights are transferred on the day the products are dispatched to the courier or are mailed by post.
9. Handling of complaints in relation to incorrect or incomplete delivery
For receipt of the goods by delivery, the Ordering Party is entitled to refuse receipt of deliveries with damaged packaging and may submit a complaint in the event of any deficiencies in the delivery which is received. In both cases, the Ordering Party must submit notification within a maximum of two (2) working days. Notification may be made by telephone (+36-1-800-8111, -8112) or e-mail (email@example.com).
Within five (5) working days, the Company shall investigate whether the complaint is justified or not. In the event of a justified complaint, the missing item(s) shall be delivered to the Ordering Party at the expense of the Company, or the amount paid by the Ordering Party, including delivery costs, shall be reimbursed.
The provision above does not prejudice the Ordering Party’s right of withdrawal and right of warranty and guaranty set forth in the GTC.
If a delivery prepaid by bank card or a package ordered for cash on delivery is returned by the delivery service provider with the explanation “addressee unknown” or “not possible to deliver”, the Company shall notify the Ordering Party in writing or by telephone. If delivery is not possible due to reasons attributable to the Ordering Party, the Company shall charge the Ordering Party for the expenses of re-delivery. With regard to items prepaid by bank card for delivery, the Company shall deem the transaction to have failed after two unsuccessful attempts at delivery and shall initiate repayment of the consideration to the Ordering Party. Simultaneously with repayment, the Company is entitled to resell the products purchased by the Ordering Party.
10. Delivery costs
- Delivery costs can also be found under the menu point Help on the website.
- By clicking on the option “Basket” in the webshop the exact delivery costs for the selected method of delivery are calculated. The Company notifies the winning bidder separately regarding the delivery costs of products won at auctions.
- Delivery costs include the combined costs of packaging and delivery.
- There is no minimum limit on the value of an order, but the delivery costs are linked to certain value thresholds. In addition to the costs charged for packaging, the delivery costs are based on the prevailing fees of the service provider and are gross prices including VAT for delivery addresses within Hungary and the EU, and excluding VAT for delivery addresses outside of the EU.
- In the event of changes in these fees, the Company reserves the right to also make changes with immediate effect. Such changes do not apply to transactions in processing (ordered and/or paid).
11. Other conditions
- Orders/purchases initiated in the webshops at www.penzvero.hu, www.coins.hu or www.emlekpenz.hu are deemed valid contracts in the event that the Company confirms such in writing, or – without such confirmation – delivers the ordered/purchased items to the delivery address provided by the Ordering Party or in person.
- Orders and purchases may only be initiated by registered users. Registration only needs to occur once; subsequent purchases can be carried out without the need to resubmit data.
- In the webshop, a maximum of five (5) units of a product may be placed in the basket per purchase transaction. The Company reserves the right to place further restrictions on quantities that may be ordered.
- The Ordering Information referenced in Point 3 of the GTC provides further detailed information on ordering procedures.
- The Company assumes no liability for any possible illustration errors or typographical errors in the webshop, on the websites or in the printed price lists, brochures or other printed materials.
- The Company assumes no liability for any damages related to the Ordering Party accessing the websites.
12. Right of withdrawal
- Pursuant to Government Decree 45/2014 (II.26.) on the detailed rules governing contracts between consumers and companies (hereinafter: “Government Decree”), the Ordering Party may, in accordance with the following provisions, withdraw from or cancel the contract without stating its grounds within fourteen (14) days. According to Article 20 (2) of the Government Decree, in the case of a contract on the sale and purchase of the product(s) the consumer may exercise its right of withdrawal or cancellation from the day of receipt by the consumer or a third part designated by the consumer which is different than the carrier; in the case of a contract on the provision of services, such right may be exercised within fourteen (14) days of conclusion of the contract. The consumer may exercise withdrawal or cancellation using the sample declaration of withdrawal or cancellation presented in Appendix 2 to the Government Decree, as accessible via the link below, or a clearly stated declaration to that effect.
The right of withdrawal/cancellation may be exercised by completing (and sending) this sample declaration.
Withdrawal/cancellation shall be considered to have been effected in time if the Ordering Party has sent the relevant notification prior to expiration of the deadline.
- In the event of withdrawal/cancellation, the Company shall, in the same manner used during purchase, reimburse to the Ordering Party the value paid by the Ordering Party for the goods affected by the withdrawal, including the expenses for packaging and delivery, in exchange for the goods – and any certificate(s) of origin or packaging materials (plastic capsule), to the extent that such were included – without delay, but within fourteen (14) days of receipt of the notification of withdrawal. The Company may withhold reimbursement until it receives the product or until the Ordering Party certifies the return of such. In the event of withdrawal/cancellation by the Ordering Party, it shall be required to return the product to the Company at its own expense within fourteen (14) days of notification of withdrawal/cancellation. The Ordering Party shall bear no other costs, but is liable for any decline in value stemming from use above and beyond the use required to determine the nature, characteristics and operation of the product.
- The Ordering Party may not exercise its right of withdrawal for products which are manufactured, engraved or photo-engraved exclusively for it based on its order or instructions.
- For online orders, the Ordering Party may submit written notification of exercising its right of withdrawal/cancellation by e-mail (firstname.lastname@example.org) or by registered letter (Magyar Pénzverő Zrt. H-1734 Budapest, Pf. 518.). In relation to the exercise of rights of withdrawal/cancellation sent by e-mail, the Company shall confirm receipt of the Ordering Party’s declaration within three (3) days. In order to facilitate processing, it is recommended that the invoice/receipt received with the goods be attached to the notification of withdrawal/cancellation, but notification may also be submitted without these documents.
- The Company cannot accept withdrawal/cancellation after the above deadline.
Hungarian Mint Ltd. Commercial Office
Address: Báthory u. 7., Budapest, 5th district, H-1054
Correspondence: 1734 Budapest, Pf. 518.
Tel.: +36-1-800-8111, – 8112 / fax: +36-1-800-8113
The Company cannot accept responsibility for correspondence sent to e-mail addresses other than the one above, in particular to addresses in the automatic e-mail system.
The Ordering Party may enforce an ancillary warranty claim vis-à-vis the Company in accordance with the regulations of the Hungarian Civil Code (Ptk.) Pursuant to such, the Ordering Party may request repair or replacement, unless satisfaction of the Ordering Party’s claim is impossible or would result in inordinate additional costs for the Company compared to the satisfaction of a different claim. If the Ordering Party did not or could not request repair or replacement, it may request a proportionate reduction of the amount paid or may undertake the repair or have such undertaken by another party at the cost of the Company, or – ultimately – withdraw from the contract. The Ordering Party may switch from one selected ancillary warranty to another, but shall bear the cost of switching, unless such switching was justified or the Company gave cause for such.
The Ordering Party shall disclose the defect immediately after discovery, but no later than two (2) months after discovering such. Ancillary warranty rights cannot be enforced after the statutory limitation of two years from conclusion of contract. The statutory limitation for used goods is one year.
The Ordering Party may enforce an ancillary warranty claim vis-à-vis the Company.
Within six (6) months of performance, there are no other conditions for the Ordering Party to enforce its ancillary warranty claim, if the Ordering Party demonstrates that product or service was provided by the Company. After six months, however, the Ordering Party must prove that the defect discovered by the Ordering Party existed at the time of performance.
In the event of a defect in the product, the Ordering Party may choose between enforcing its ancillary warranty right or a product warranty claim.
With a product warranty claim, the Ordering Party may only request repair or replacement of the defective product.
The product is defective if it does not meet the quality requirements upon being placed in circulation or does not have the characteristics contained in the description provided by the Company.
The Ordering Party may enforce its product warranty claim within two years of the Company placing the product into circulation. The validity of the claim expires after this deadline.
Product warranty claims may only be enforced against the manufacturer or distributor of moveable property. In the case of a product warranty claim, the Ordering Party must prove the defect in the product.
The Company is only released from its product warranty obligations, if it can prove that:
- the product was not manufactured or placed into circulation for commercial purposes;
- the defect could not be detected with the state of science and technology upon being placed into circulation;
- the defect in the product stems from the application of a legal regulation or binding official requirement.
It is sufficient for the Company to prove one point to be released.
The Ordering Party may not simultaneously enforce an ancillary warranty claim and a product warranty claim in parallel with respect to the same defect. However, in the event that it successfully enforces its product warranty claim, it may also enforce an ancillary warranty claim against the manufacturer in respect of the replaced product or repaired part thereof.
The products sold by the Company – coins, medals, gift boxes, specialised literature, coin albums, banknotes, specimen banknotes, circulation series, etc. – do not fall into the group of products subject to mandatory guaranty. The Company does not provide any voluntary guaranty for its own products or products which it distributes.
Ancillary warranty/product warranty claims may only be submitted in writing, to the e-mail address email@example.com or sent to Magyar Pénzverő Zrt. H-1734 Budapest Pf. 518. Claims are handled on the basis of the Company’s Regulations on the Processing of Complaints, which can be found here.
14. Regulations on the exchange of forint collector coins and banknotes into cash
In accordance with Point I.5. of the Magyar Nemzeti Bank’s CONDITIONS ON CASH TRANSACTIONS FOR HOUSEHOLDS, as commissioned by the Magyar Nemzeti Bank, Magyar Pénzverő Zrt. undertakes the exchange of forint-denominated commemorative banknotes and coins into circulation banknotes or coins, and the exchange of vouchers for commemorative banknotes certifying payment – effected in post offices prior to the time of issuance – of the face value of the 2,000-forint denomination commemorative banknote issued by way of MNB Announcement 6/2000. (MK 71.), as well as the ad-hoc exchange of banknotes and coins fit for circulation into commemorative versions of circulation coins issued by the MNB.
Such exchange is possible in person at Magyar Pénzverő Zrt.’s coin shop, during the business hours of such as announced on the Company’s website (www.penzvero.hu).
The Company does not charge a fee, special fee, commission or expense for the exchange transactions described above.
1. EXCHANGE OF FORINT COMMEMORATIVE BANKNOTES AND COINS INTO CIRCULATION BANKNOTES OR COINS
The Company exchanges commemorative banknotes or coins at face value if the authenticity and face value of the commemorative banknotes or coins can be determined without doubt and they correspond to the condition of the commemorative coin or banknote upon issuance.
In the event that the commemorative coin or banknote to be exchanged does not correspond to the condition upon issuance and there are doubts regarding their authenticity, the Company shall refer the Client to the MNB in the interests of performing a forensic currency examination.
With regard to the forensic currency examination, the MNB’s prevailing CONDITIONS ON CASH TRANSACTIONS FOR HOUSEHOLDS, and its appendices shall be definitive, which can be accessed at the central bank’s website (www.mnb.hu) and are displayed in its cashier offices.
The Company undertakes the exchange of certain commemorative versions of circulation coins on the day of promulgation of the MNB decree on the issuance of the commemorative version of the circulation coin in question in accordance with the conditions set forth in the announcement released by the MNB (stipulation of the amount that can be exchanged per person), up to the amount of available inventory. The MNB also displays this announcement in its cashier offices and publishes such on its website.
15. Processing of complaints
Complaints may be submitted to:
Magyar Pénzverő Zrt. Commercial office
Address: 1054 Budapest, V. kerület, Báthory u. 7.
Correspondence address: 1734 Budapest, Pf. 518.
The Company cannot accept responsibility for correspondence and the contents of such sent to e-mail addresses other than the one above, in particular to addresses in Magyar Pénzverő Zrt.’s automatic e-mail system.
16. Data protection
The Company’s information on Data Protection can be downloaded here.
17. Legal remedy
The Company will work to resolve any disputes arising with the Ordering Party in relation to transactions falling under the scope of these delivery conditions in an amicable manner.
Non-official options for dispute resolution:
Arbitration body of the Regional Chamber of Commerce
1016 Budapest, Krisztina krt. 99.
Authorities overseeing the Company’s commercial activities:
Clerk of the Local Government of District V, Budapest
1051 Budapest, Erzsébet tér 4.
National Consumer Protection Authority
Regional Directorate for Central Hungary
1052 Budapest, Városház u. 7.
Should resolution not prove to be possible, the Company hereby stipulates the provisions of the Hungarian Civil Code and the competence of the Budapest District Court for the XX, XXI and XXIII Districts, for the settlement of any legal disputes falling under the competence of the district courts.
With the exception of obligations stemming from legal regulations, the Company reserves the right to freely and unilaterally amend these General Terms and Conditions at any time. Any such amendments shall enter into effect when they appear online on the websites accessible under the above domain names.