iPod touch Getting Replacement iPod touch - Return at Apple Store?

I managed to lose my iPod touch the other day, due to being a bit of an idiot.

As I now only use it when my iPhone isn't suitable, it is a bit overkill for the task (32gb iPod touch, shuffle would do the same job fine). When I get my replacement from Apple, it will be one of the new fancy touches with 2 videocameras, retina display et al. Would I be able to take this to an Apple store and return it, as an unwanted gift or similar and then get a shuffle, as well as some other goods?

Thanks in advance

EDIT: I missed this out the first time I wrote this, I am getting my replacement iPod through household insurance. I can either end up a £250 device down, or get a new iPod that is excessive to my needs. I went for the latter.

old-wiz said:

You said you lost the iPod Touch, so why would you expect to get a replacement from Apple?

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Insurance. My mistake, didn't make that clear at all.

"When I get my replacement from Apple" should have read "when I get my replacement, it will be... as I have new for old insurance cover"

My question still stands

taran420 said:

"lost"

I dont think it should be a problem. They will likely give you a apple store gift card which can be used to purchase anything you want

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I went to the pub with it in my pocket. I had a drink with friends and went home, it was gone when I next checked. Lost. If I just wanted to get rid of it and buy a shuffle, I'd sell it - not commit fraud - I used to work in Insurance and I know how thorough loss prevention are.

Thanks for your advice though.