Hmmmm, are you doing it from the app? I find my experience is completely different depending on how I access Etsy.
I am doing it from the desktop computer, also tried it from mobile web but that looks the same. Couldn't even find the option to create a coupon from the "sell on Etsy" app. So are you seeing the old version?
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If your code is not working, contact the shop owner. The coupon may no longer be available. Yes, from your dashboard page, over at the left hand column click on "Marketing" and then click on "Sales and Coupons.
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