If you buy the camera from Nikon, or a retailer you trust, yes. A refurbished product should have the same warranty as a new product; confirm that when you buy it. The packaging of a refurbed product might be re-used, but even if the gear was used before, it should look and feel like new. A refurbished product is less likely to be dead on arrival, since it is completely retested before it is sent out.

Both refurbished and used products from most major camera manufacturers should be good buys. A refurbished camera is one that has been returned to the manufacturer or their representative for some reason, checked over, repaired if required, repackaged, and resold. Some were defective, some died under warranty and were replaced, and some were returned for other reasons. For factory refurbished products with valid warranties, you should realize a savings of 10% to 15% over the regular purchase price for the product. If an item in the current product line is selling for substantially less (e.g., a 25% to 50% discount), you should proceed with caution. The product may not be factory refurbished and/or may not come with a valid warranty. However, discounted discontinued products can be a good buy. I have not been able to locate any information on Nikon to indicate whether or not they sell factory-refurbished cameras with a manufacturer's warranty through their authorized dealer network. Note that authorized dealers may sell grey market goods and products that have been refurbished by third parties, not the factory. I have never seen any for sale through the dealers where I live, who sell new and used products. On the other hand, I don't shop for discounted P&S cameras, so I am not in the habit of looking for refurbished cameras. If you decide to purchase a refurbished product and want to ensure you get the quality you are paying for, purchase it from an authorized dealer and check if it comes with a valid manufacturer's warranty. Many refurbished products are not sold through the manufacturer's authorized sales network and any warranty offered with such goods is usually provided by the seller. Many inexpensive products are not refurbished by the manufacturer, but are sold in bulk to third parties. Some of these companies do not provide reliable warranty service. If the product comes with a manufacturer's warranty, make sure it is valid in the country where the product was purchased. If you live in the US, purchase a camera with a Nikon USA warranty; if in Canada, purchase one with a Nikon Canada warranty. Avoid products sold with 'international' warranties, since you may encounter servicing problems if you return the product to an authorized dealer or repair centre. This is not unlike the problems encountered when purchasing new grey market goods. In short, only purchase a refurbished camera from an authorized dealer and make sure it has a valid factory warranty. This is the premium you pay for a refurbished camera over a used one, so you should ensure you really get what you pay for. There are many camera retailers, particularly on the internet, who sell grey market goods or are not authorized dealers for the product they sell. Often, they have obtained their goods through questionable means. Go to the company's website and find the nearest authorized dealer to you. In Canada, http://www.nikon.ca/ . In the US, http://www.nikonusa.com/ . It is often the entry-level or low-cost products that are replaced with new or rebuilt cameras under warranty, creating a market for refurbished products. Higher-quality products are normally repaired and are only replaced under exceptional circumstances. Footnotes... Purchasing a used camera can be an economical way of getting a better product within the limits of your budget. Most of the cameras and lenses I own have been purchased second-hand. You have to do some research on the camera before you buy and be prepared to do a little maintenance and cleaning. Some camera models are very reliable and some have known problems that may exclude them from consideration. Prices are usually lower through private sales, compared to buying a used camera or lens from a dealer. On the other hand, the risk is also higher that the item you purchase may be defective or has been abused. Although most photographers take good care of their equipment, some don't and some equipment has seen heavy use. If you purchase a second-hand camera, make sure it looks clean: it should have no obvious defects and should not be dirty - a sign of poor care. A camera that is less than five to ten years old should have no dents. There should be few other blemishes on the body and there should be minimal brassing (i.e., paint worn off to expose the metal or plastic underneath). The lens should have pristine glass: no scratches, no scuffs, undamaged coating, no fingerprints, no fungus or mould, and clean. A dirty lens means the camera has not been looked after with care.